Walden University ScholarWorks Walden Dissertations and Doctoral Studies Walden Dissertations and Doctoral Studies Collection 2018 Marketing Strategies During the Product Life Cycle in the Pharmaceutical Industry Natasa Naneva Walden University Follow this and additional works at: https://scholarworks.waldenu.edu/dissertations Part of the Advertising and Promotion Management Commons, and the Marketing Commons This Dissertation is brought to you for free and open access by the Walden Dissertations and Doctoral Studies Collection at ScholarWorks. It has been accepted for inclusion in Walden Dissertations and Doctoral Studies by an authorized administrator of ScholarWorks. For more information, please contact [email protected]. Walden University College of Management and Technology This is to certify that the doctoral study by Natasa Naneva has been found to be complete and satisfactory in all respects, and that any and all revisions required by the review committee have been made. Review Committee Dr. Matthew Knight, Committee Chairperson, Doctor of Business Administration Faculty Dr. David Moody, Committee Member, Doctor of Business Administration Faculty Dr. Judith Blando, University Reviewer, Doctor of Business Administration Faculty Chief Academic Officer Eric Riedel, Ph.D. Walden University 2018 Abstract Marketing Strategies During the Product Life Cycle in the Pharmaceutical Industry by Natasa Naneva MBA, Ashland University, 2008 BS, Sv. Kliment Ohridski - Bitola, 2005 Doctoral Study Submitted in Partial Fulfillment of the Requirements for the Degree of Doctor of Business Administration Walden University November 2018 Abstract Development and implementation of effective marketing strategies during various stages of product life cycle in the pharmaceutical industry are critical to an organization’s successful performance in the marketplace in the 21st century. Guided by the general systems theory developed by Bertalanffy and the evolutionary systems theory developed by Laszlo and Laszlo, the purpose of this single case study was to explore best practices among marketing managers within pharmaceutical companies related to marketing strategies during various stages of product life cycle. Data were gathered via semistructured interviews with 3 purposefully selected managers who have successfully developed marketing strategies in a central Ohio pharmaceutical company in business for more than 10 years. A review of secondary data included company documents, such as annual reports, news releases, and websites, in addition to government databases. Member checking was conducted to ensure accuracy of the interpreted data and trustworthiness of the research findings. Yin’s 5-step process and thematic analysis were used to analyze the data. Four themes emerged from data analysis: marketing function, product life cycle phases, factors influencing the decision-making process, and strategic activities in executing business strategies. Findings may have implications for positive social change such as assisting organizational leaders to understand the challenges and business practices in implementing marketing strategies to successfully deliver products that improve patients’ health. Marketing Strategies During the Product Life Cycle in the Pharmaceutical Industry by Natasa Naneva MBA, Ashland University, 2008 BS, Sv. Kliment Ohridski - Bitola, 2005 Doctoral Study Submitted in Partial Fulfillment of the Requirements for the Degree of Doctor of Business Administration Walden University November 2018 Dedication I dedicate this doctoral study to my husband, Toni; my parents, Pavlina and Ljupce; my sister, Daniela; and my nephews, Marko and Dragan. I would like to thank my husband, Toni Kostrevski, for your support, encouragement, and patience throughout this journey. It would not have been possible without your support and love. You mean the world to me, and I love you. I would also like to thank my parents, my mother Pavlina Naneva and my father Ljupce Nanev, for your unconditional love, support, guidance, and wisdom. Without you I would not have been able to accomplish the program. I am grateful for having you in my life, and proud to be called your daughter. Lastly, I would like to thank my sister, Daniela Tosev, for your support and faith in me during this journey. Without you, Deni, and the smiles of my dear nephews, Marko Tosev and Dragan Tosev, I would not have been able to accomplish the degree. I am grateful for having you as my sister. Acknowledgments I would like to thank my Chair, Dr. Matthew Knight (Dr. Matt), for his continuous support and guidance through the process that helped me make it this far. I would like to also thank my Second Committee Member, Dr. David Moody, and my URR, Dr. Judy Blando, for their valued feedback and reviews of my doctoral study. Table of Contents List of Tables ..................................................................................................................... iv List of Figures ......................................................................................................................v Section 1: Foundation of the Study ......................................................................................1 Background of the Problem ...........................................................................................1 Problem Statement .........................................................................................................3 Purpose Statement ..........................................................................................................3 Nature of the Study ........................................................................................................4 Research Question .........................................................................................................5 Interview Questions .......................................................................................................6 Conceptual Framework ..................................................................................................7 Operational Definitions ..................................................................................................8 Assumptions, Limitations, and Delimitations ..............................................................10 Assumptions .......................................................................................................... 10 Limitations ............................................................................................................ 10 Delimitations ......................................................................................................... 12 Significance of the Study .............................................................................................13 Contribution to Business Practice ......................................................................... 13 Implications for Social Change ............................................................................. 15 A Review of the Professional and Academic Literature ..............................................17 Conceptual Framework ......................................................................................... 19 Potential Themes ................................................................................................... 22 i Transition and Summary ..............................................................................................77 Section 2: The Project ........................................................................................................79 Purpose Statement ........................................................................................................79 Role of the Researcher .................................................................................................79 Participants ...................................................................................................................82 Research Method and Design ......................................................................................89 Research Method .................................................................................................. 89 Research Design.................................................................................................... 91 Population and Sampling .............................................................................................93 Ethical Research...........................................................................................................98 Data Collection Instruments ......................................................................................100 Data Collection Technique ........................................................................................105 Pilot Study ..................................................................................................................112 Data Organization Technique ....................................................................................113 Data Analysis .............................................................................................................115 Reliability and Validity ..............................................................................................125 Reliability or Data Dependability ....................................................................... 127 Validity ..............................................................................................................