CRITICAL SOCIOCULTURAL FACTORS AFFECTING PHARMACEUTICAL PURCHASING DECISION: THE CASEOF EGIS COMPANY, VIETNAM

Abstract

Egis Pharmaceutical Private Limited Company (short name as Egis) is leading multinational pharmaceutical company with headquarter located in Budapest, Hungary. In Vietnam, Egis has been in top 83 biggest manufacturers have supplied drugs to treatment establishment and drugstores, shared 0.33% of total Vietnam pharma market size in value (Anon., 2019). However, Egis business performance in Vietnam has been under expectation last 2 years which its growth was significantly negative in value. That circumstances put Egis management team in Vietnam to face with a lot of challenges. Well comprehending the buying behavior of pharmaceutical consumers generally and Egis OTC products’ as specific case, is the crucial basis for their management team’s business strategies and plans. This research affords to investigate especially critical sociocultural factors affecting pharmaceutical purchasing decision conducted from September 10^th to October 30^th, 2021.and take relevant conclusions as well as give valuable advices to Egis marketing and business managing team. It should be a high attempt to its reader to provide a significant knowledge regarding the different sociocultural factors that influence on pharmaceutical purchasing decision of the consumers. Besides, it will also help the management people in any organization and Egis company in Vietnam specially to understand about these social and cultural factors that impact on the customers’ attention towards company products.