Dynamic pricing as an innovative approach in drug sales and its effect on consumers’ perception of pre-purchase and post-purchase behavior

Abstract

Background and Aims: Drug companies worldwide engage in intense global competition, focusing on consumer satisfaction, profitability, and promotion to gain an edge. This study aims to explore the effects of dynamic pricing on pre-purchase and post-purchase behaviors among drug consumers in Turkey. Methods: The study employed a quantitative research design, utilizing a structured questionnaire administered to 414 employed individuals in Turkey. Data were analyzed using a structural equation modeling (SEM) approach to assess the relationships between consumers’ perception of dynamic pricing and their behaviors accordingly. Results: Statistical analyses revealed that consumers’ perception of dynamic pricing significantly influences pre- and postpurchase behavior, satisfaction levels, loyalty, and positive word-of-mouth communication. Moreover, the study highlights the interconnectedness of consumers’ post-purchase behavior, especially regarding experiences with dynamically priced drugs. Conclusion: Dynamic pricing significantly influences pre-purchase decisions and post-purchase loyalty, highlighting the importance of customer-centric strategies for pharmaceutical companies. Post-purchase satisfaction and loyalty enhance word-of-mouth communication, fostering long-term customer relationships. However, broader studies with diverse participants and timelines are recommended to strengthen the statistical insights and applicability of findings.

Keywords

• Drug Sales
• Dynamic Pricing
• Pre-Purchase Behavior
• Post-Purchase Behavior
• Financial Effect

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