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LIFE: When It's Worth It
by Danielle Dresden
PharmacyWeek Vol. XVII - Issue 17
Published: 5/4/2008
Advertisements often ask customers "Why pay more?" While there are few good answers to that question, people do pay premium prices all the time, and often for nothing more substantial than a name. That's what branding is all about, and small wonder it's been a hot topic in marketing for years. Marketers use that power to shape pricing for goods and services. But consumers still decide how much they think a name is worth paying for.
WORK: Reviewing What Is Good
by Danielle Dresden
PharmacyWeek Vol. XVII - Issue 17
Published: 5/4/2008
The ancient Greek philosopher Plato said, "They certainly give very strange names to diseases." Imagine what he'd have thought of the names we give medications, not to mention the idea of paying more for a medicine because of its name. However, in light of increasing financial pressures it seems more and more Americans are willing to bypass the brand names mindset and give generics a try. As more drugs go off patent and more patients use them, pharmacists will face an interesting balancing act.