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Measuring the Efficiency of Marketing Efforts in the Indian Pharmaceutical Industry Using Data Envelopment Analysis


Affiliations
1 Management Science, School of Business, Alliance University, Bengaluru, Karnataka, India
2 Marketing, School of Business, Alliance University, Bengaluru, Karnataka, India
3 Economics, School of Business, Alliance University, Bengaluru, Karnataka, India
4 Business Analytics, School of Business, Alliance University, Bengaluru, Karnataka, India
     

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Pharmaceutical companies have been spending huge amount of money on marketing and promotions, sales distribution, and travelling done by the sales representatives. However, they find it difficult to directly link the returns with these efforts. This study makes an attempt to examine whether the marketing efforts have significant influence on the sales performance in the industry. It uses the DEA model (Data Envelopment Analysis) to assess the efficiency of marketing efforts by pharmaceutical companies, and uses random effects maximum likelihood panel regression to assess the significance of the impact of marketing efforts.

Keywords

Pharmaceutical Industry, Marketing Efforts, Sales Performance, DEA Model, Random Effects Maximum Likelihood Panel Regression.
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  • Measuring the Efficiency of Marketing Efforts in the Indian Pharmaceutical Industry Using Data Envelopment Analysis

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Authors

Mihir Dash
Management Science, School of Business, Alliance University, Bengaluru, Karnataka, India
Arunabhas Bose
Marketing, School of Business, Alliance University, Bengaluru, Karnataka, India
Samik Shome
Economics, School of Business, Alliance University, Bengaluru, Karnataka, India
Shamim Mondal
Economics, School of Business, Alliance University, Bengaluru, Karnataka, India
Dennis J. Rajakumar
Economics, School of Business, Alliance University, Bengaluru, Karnataka, India
Ramanna Shetty
Economics, School of Business, Alliance University, Bengaluru, Karnataka, India
Madhumita G. Majumdar
Business Analytics, School of Business, Alliance University, Bengaluru, Karnataka, India
Debashis Sengupta
Business Analytics, School of Business, Alliance University, Bengaluru, Karnataka, India

Abstract


Pharmaceutical companies have been spending huge amount of money on marketing and promotions, sales distribution, and travelling done by the sales representatives. However, they find it difficult to directly link the returns with these efforts. This study makes an attempt to examine whether the marketing efforts have significant influence on the sales performance in the industry. It uses the DEA model (Data Envelopment Analysis) to assess the efficiency of marketing efforts by pharmaceutical companies, and uses random effects maximum likelihood panel regression to assess the significance of the impact of marketing efforts.

Keywords


Pharmaceutical Industry, Marketing Efforts, Sales Performance, DEA Model, Random Effects Maximum Likelihood Panel Regression.

References