Big Pharma has been downsizing its army of drug reps and cutting back on DTC television advertising of late. Doctors and couch potatoes have gotten a little sick of these marketing approaches, I guess you might say.
Having worn out their welcome in these venues, Big Pharma continues to shift more of its marketing dollars online. eMarketer.com reports that the pharma and healthcare industries have increased online advertising from $291 million in 2003 to $975 million in 2007.
That’s a big jump. And online advertising isn’t even Big Pharma’s biggest marketing expense. The drug industry is allocating even more money to search engine marketing and Web site development.
Check out the eMarketer.com post for more details on the new study by MBC and CBI Research.