Social Media: Is It an Appropriate Communication Tool for Pharmaceutical Industries

By

ACKNOWLEDGEMENTS

I would like to take this chance for thanking my research facilitator, friends and family for support they provide, their belief in me as well as the guidance they provided me, without that I would have never been able to do this research.

DECLARATION

I, (Your name), would like to declare that all contents included in this dissertation stand for my individual work without any aid, & this dissertation has not been submitted for any examination at academic as well as professional level previously. It also represents my own views & not essentially the ones associated with university.

Signed __________________ Date _________________

ABSTRACT

In recent years, social media has become an increasingly used communication tool for consumers and various businesses. Different pharmaceutical firms do not have proper representation in the social media websites like facebook and twitter, although the opportunities that such tools presents in capturing the market are immense, as in terms of market share, growth scope, and response to customer demands. Knowing that pharmaceutical industry has a complicated and unique relationship with its customers especially patients, yet this relationship is always regulated by health authorities and laws, since their products impacts public health and safety nevertheless quality of life. Major aim of this dissertation is to analyze usage of social media by pharmaceutical industry. A review of prior literature has shown that the use of social media as a marketing tool by pharmaceutical firm could have a mixed affect; however, if managed with a proper strategy and in compliance with relevant regulations, this can make a great impact on different Pharma stakeholders. A data collection methodology will be used to assess social media usage and its impacts, with subsequent analysis & validation of the findings as to draw a conclusion for the benefit of both Pharma companies and future research.

TABLE OF CONTENTS

ACKNOWLEDGEMENTSII

DECLARATIONIII

ABSTRACTIV

CHAPTER 1: INTRODUCTION1

Background of the Study1

Problem Statement3

Aims of the Study3

Objectives of the Study3

Purpose of the Study4

Significance of the Study5

Rationale of the Study6

Research Questions6

CHAPTER 2: LITERATURE REVIEW7

Theoretical Framework7

Evolution of the Social Media7

Current shape of the industry14

Social Media and Social Networking Sites17

Relation to Previous Research20

Stakeholder Theory21

Reflections23

CHAPTER 3: RESEARCH METHODOLOGY25

Introduction25

Research Philosophy26

Outline of the overall strategy28

Research Design28

Types of Research Methodology29

Research Approach30

Achievement of Aims of the Study31

Method of Analysis32

Justification of Research Method32

Reason for Conducting Secondary Research33

Sources of Data Collection35

Research Instrument35

Data Collection Method38

Underlying assumption39

Reliability/Dependability39

Validity40

Ethical Considerations40

CHAPTER 4: DISCUSSION AND FINDINGS42

Usage of Social Media for Marketing Pharma Products42

Other Media Search43

Social Media as Platform for Interaction43

Social Media Sites45

Social Media Dialogue for Pharmaceutical Industry and Stakeholder47

Impact of Social Media on Direct Communication49

Marketing Usage of Social Media49

Effects of Social Media on Pharma Stakeholders51

CHAPTER 5: CONCLUSION54

REFERENCES60

CHAPTER 1: INTRODUCTION

Background of the Study

The social media has become an important part of marketing strategy in today's world and almost every sector takes the help of this tool for communicating and advertising its products to their respective customers. The pharmaceutical industry has been playing a significant role in the healthcare industry. In the present world, the pharmaceutical industry has been advertising in conventional manner that includes the direct ...