Econ supply and demand - Economic Analysis Module 3 Supply...

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Economic Analysis Module 3 – Supply & Demand Analysis Lisa M Iodice MBA-502; Dr. Darko
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Module 3 – Demand & Supply Analysis Lisa M Iodice MBA-502 Company Selection: Pfizer; Product Focus: Viagra In identifying two non-price variables that affect demand, demographics and advertising seem to be at the forefront. I feel that these two determinants of demand are inter-related. Viagra was patented in 1996, with FDA approval for the treatment of erectile dysfunction (ED) in 1998, becoming the first pill in the United States with FDA approval to treat erectile dysfunction that was due to medical problems, such as diabetes or injury to the spinal cord. It was originally marketed towards older “baby boomers” and senior citizens (Rose, n.d.). Due to savvy marketing, Pfizer was able to grow the target demographic from men suffering ED due to a medical condition and senior citizens, to men of a younger age, and what was once thought of to be a medication for a medical need became a “lifestyle drug”. Based on this increased demographic market and strategic marketing, this would cause not only a shift in the demand curve to the right as the number of consumers overall increased, but an increase in quantity demanded at different price points along the demand curve as men of varying ages asked their doctors for prescriptions. Viagra revenue in the U.S remained unchanged from 2012 to 2013, holding at $1.13 billion (Pfizer, 2014).
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