In pharmaceutical marketing, salespeople require promotional instruments to satisfy and retain their customers (physicians), but companies ignore the need because of the…
In pharmaceutical marketing, salespeople require promotional instruments to satisfy and retain their customers (physicians), but companies ignore the need because of the costs involved. It appears that the importance of promotional support is understood differently by managers and sales representatives. This study aims at developing a new construct called “promotional support”, as a resource support provided to salespeople to help them satisfy customer needs and achieve sales goals.
A detailed review of literature is followed by in-depth interviews to create items for the construct “promotional support”. Substantive validity is performed for identification of items measuring the construct. To initially validate the measures, a vignette study is performed. Formative index development procedure is followed. Data from a sample of 124 pharmaceutical sales representatives are collected and analyzed.
A formative construct is developed which possesses convergent (redundancy analysis) and nomological validity. The results of post hoc validation tests like confirmatory tetrad analysis and inter-item correlation are satisfactory and confirm the authors’ conceptualization.
The scale requires external validation by testing it with different samples such as managers of pharmaceutical firms.
This study will help managers of pharmaceutical firms gain insights into the role and importance of promotional inputs given to their sales representatives.
This study uses the formative scale development procedure to develop promotional support. This construct can be used to understand the effect of promotional support given to pharmaceutical sales representatives on other constructs, which in turn helps in theory-building.
The principal purpose of this study is to examine the moderating influence of selling experience on the following two relationships – adaptive selling and job satisfaction…
The principal purpose of this study is to examine the moderating influence of selling experience on the following two relationships – adaptive selling and job satisfaction and customer orientation and job satisfaction – using unionized salespeople as respondents. It also tests for the mediating role of adaptive selling in the customer orientation–job satisfaction relationship.
This paper uses data from a survey conducted on 208 pharmaceutical unionized salespeople from 46 pharmaceutical firms in India. The model was tested using structural equation modeling. Moderation hypotheses were estimated using process macro and the Johnson–Neyman technique.
The data fitted the model well. This research found that customer orientation drove adaptive selling behavior and job satisfaction, and that adaptive selling influenced job satisfaction (all positively); it was found that adaptive selling partially mediated the relationship between customer orientation and job satisfaction. Results revealed that job experience negatively moderated the adaptive selling behavior–job satisfaction and customer orientation–job satisfaction relationships.
The results show that pharma firms may hire young recruits and, importantly, measure their customer orientation and adaptive selling levels. For the purposes of training to enhance customer orientation and adaptive selling, pharma firms may send only their less experienced salespersons.
To the authors’ knowledge, this study could be the first to examine the interaction of job experience and customer-directed selling behaviors such as adaptive selling and customer orientation on job satisfaction. Moreover, this is possibly the only study in this domain that uses unionized salespeople in an emerging market (India).
This paper aims to popularize the Bayesian methods among novice management researchers. The paper interprets the results of Bayesian method of confirmatory factor analysis…
This paper aims to popularize the Bayesian methods among novice management researchers. The paper interprets the results of Bayesian method of confirmatory factor analysis (CFA), structural equation modelling (SEM), mediation and moderation analysis, with the intention that the novice researchers will apply this method in their research. The paper made an attempt in discussing various complex mathematical concepts such as Markov Chain Monte Carlo, Bayes factor, Bayesian information criterion and deviance information criterion (DIC), etc. in a lucid manner.
Data collected from 172 pharmaceutical sales representatives were used. The study will help the management researchers to perform Bayesian CFA, Bayesian SEM, Bayesian moderation analysis and Bayesian mediation analysis using SPSS AMOS software.
The interpretation of the results of Bayesian CFA, Bayesian SEM and Bayesian mediation analysis were discussed.
The management scholars are non-statisticians and are not much aware of the benefits offered by Bayesian methods. Hitherto, the management scholars use predominantly traditional SEM in validating their models empirically, and this study will give an exposure to “Bayesian statistics” that has practical advantages.
This is one paper, which discusses the following four concepts: Bayesian method of CFA, SEM, mediation and moderation analysis.
The case focuses on the key choices and decision issues that entrepreneurs face in the fast evolving mode of startup funding, known as ‘crowdfunding’. It is centred around three products which vary significantly on many dimensions such as the level of innovativeness, risk, social good generated by the product, and the target group. The products presented facilitate rich discussion on the key crowdfunding decisions such as relative merits of angel funding and crowdfunding, choice of the crowdfunding platform, nature of campaign, target amount and reward structure. The case highlights financing issues of startups and compare the two products in their attractiveness for reward crowdfunding.
The case presents a context of irrational pricing in a stock and demonstrates the possible role of investor heuristics operating in the financial markets. The case is ideal in a course on behavioral finance to teach topics like the limits to arbitrage or the influence of various heuristics in financial markets.
After the global financial crisis of 2008, Allied Irish Banks (AIB) was rescued by the Irish government. During 2013 and 2014, the tiny fraction of shares remaining with the public appeared to be vastly overvalued in the Irish stock market. The American Depository Receipts (ADRs) of AIB appeared to be overvalued even relative to the inflated Irish price. The case illustrates the possibility of pervasive mispricing in an illiquid market and the difficulty of valuing companies with large embedded option values.
The subject areas are family-owned business, entrepreneurship and strategic management.
The subject areas are family-owned business, entrepreneurship and strategic management.
The target audiences for the case study are BBA and MBA students and management trainees who are interested in learning about family-owned business and the problems faced by them when generations change. This case can be used to teach concepts in family-owned business and strategic management courses in the context of emerging markets. The case also introduces the problems faced by a traditionally operating organization which has to change to survive in the market. The case can be used to teach senior management teams participating in executive education programs on how problems arise in family-owned business. To successfully work with this case study, students need to have the basic theoretical understanding of family-owned business.
Sree Subramania Ayurvedic Nursing home (SSANH), one of the most reputed Ayurvedic treatment centers in Kozhikode, Kerala in India, was converted into its present form in 1974 from Thekkayil Vaidyasala by Thekkayil Rajaratnam Vydiar. The latest addition to this family run nursing home is Dr Sananad Ratnam, who in continuity of his family tradition studied Ayurveda. Dr Sanand wanted to rethink the positioning of the 400-year-old family business system with an objective to increase the number of people served by SSANH. He is armed with ambitious plans to expand SSANH and increase the volume of patients served. Dr Sanand’s father, the second partner of SSANH, was not quite supportive of this idea. His father felt that the increase in scale without compromise in quality was impossible in Ayurveda. Dr Sanand felt handicapped with problems such as lack of marketing strategies, lack of standard managerial procedures, lack of innovation in processes and, more importantly, conflicting ideologies between father and son in the family-owned business. To address these problems, Dr Sanand has recently hired the services of a consulting firm. This case highlights how SSANH, in spite of being in an advantageous position, is unable to exploit its full potential. Further explaining the different ways in which different generations perceive business, this case invites the attention to the dilemma: Should the business proceed with its expansion plan? If it decides to expand, how it should convince the previous generation of the family that the expansion plan accommodates their concerns.
Expected learning outcomes
After completion of this case, students would be able to: gain a perspective on the problems faced by a family-owned business which has successfully survived for decades; understand how a family-owned business functions differently from other business models; evaluate different ways in which the organization can look to solve the dilemma by considering the different stakeholders in question; and apply the result of the literature on family-owned businesses to understand the dynamics of business of this specific setting, i.e. one that has a rich heritage, is in an emerging economy and is a family-owned business.
Teaching Notes are available for educators only. Please contact your library to gain login details or email email@example.com to request teaching notes.
CSS 3: Entrepreneurship.