Empirical Study Of Brand Image On The Customer Loyalty In Anti-diabetic Therapy Area

In the market of prescription medicine, medical products are delivered to customers from the manufacturer through a series of agents, including distributors, hospitals, and physicians (prescriber). The end users of such products are obviously the patients, but pharmaceutical companies’marketing targets are often the prescribers. The pharmaceutical industry is then perceived as a very unique service industry, where physicians, professionally trained, are empowered with tremendous decision making authorities. After seeing a doctor, the patient will take medicines in accordance with doctors’instructions, therefore it is usually the doctor who decides the choice of medicine. Consequently, the ultimate goal for pharmaceutical company is to let the doctor recall their own product on top of his mind when prescribing, and strengthen the prescription as a habit, eventually evolving to become a frequent prescriber.When it comes to the brand, building the image of the brand and enhancing targeting customers’awareness of the brand become increasingly crucial to boost the brand loyalty and capture the targeting customers. With a typical empirical research methodology, this paper will explore the relationship between brand image and customer perceived value and customer loyalty. Concentrating on the doctors in Shanghai, Beijing and Guangzhou, the paper will study the brand image of the different medicines, physicians’perceived value, and will analyze how the former factors effect on customer loyalty through proven survey design and statistical analysis tools from overseas. Meanwhile considering the recently intensified doctor-patient relationship, risk aversion attitude is particularly introduced as an adjusting variable between customer perceived value on customer loyalty, and is also verified its impact on the guidance and tendency.According to analysis on250valid questionnaire, we can draw a conclusion that, brand image plays significantly predictive role on customer perceived value and customer loyalty, meanwhile, customer perceived value has complete mediating effect between brand image and customer loyalty. In addition, risk aversion attitude is also proven with certain moderating effect between customer perceived value and customer loyalty. All that indicates pharmaceutical enterprise should build company image from3aspects as company, representative and brand, which helps physicians to improve brand awareness and emotional dependency. Also it points out when company initiate a customer segmentation, risk aversion attitude should be taken into account which results in different selling story.