Effect of marketing mix strategy on physician satisfaction in the Yemeni pharmaceutical industry : perceived value as a mediator

Abstract

This research explores the relationship between marketing mix strategy (MMS) and the perceived value of physician satisfaction in the Yemeni pharmaceutical industry. The research framework was developed on the basis of extensive previous studies. The research model incorporated key MMS elements, such as product, price, place, and promotion, and investigated the effect of these variables on perceived value and physician satisfaction. Perceived value is considered a critical antecedent to physician satisfaction. Perceived value denotes the total measure of perceived quality and perceived sacrifice of physicians and is a critical mediating influence between MMS and physician satisfaction in the phannaceutical industry. A total of 500 questionnaires were randomly distributed to physicians. Data collection was self-administered, and a total of 170 questionnaires were returned and analyzed by using SPSS software 19. The usable response rate was 34 %. Several statistical techniques were perfonned including reliability, factor analysis, Pearson's correlation, multiple regression analyses, and hierarchical regressions to examine the mediation effect of the perceived value. Exploratory factor analysis with principal component method and reliability analysis were used to test the validity of the instrument. Correlation analysis indicated that the relationships among MMS elements, perceived value, and physician satisfaction were significant. Multiple regression analyses results showed that MMS elements, namely, product, price, place, and promotion significantly contributed to physician satisfaction. The results also indicated that MMS elements, namely, price, place, and promotion significantly contributed to perceived value, whereas product showed an insignificant contribution. Finally, the perceived value significantly contributed to physician satisfaction. Hierarchical regression results indicated that perceived value partially mediated the relationship among MMS elements, namely, price, place, promotion, and physician satisfaction. Product variable was excluded in hierarchical analyses because the variable was insignificant to perceived value as a mediator variable. Key benefits for academia, managers, and practitioners were discussed under practical and theoretical implications, and suggestions for future research were recommended.