The Influence of Product Innovation on Customer Satisfaction in the Pharmaceutical Sector in Jordan

2. Problem Statement

While performing the firm's duties in which this researcher works for as pharmaceutical product marketing assistant manager; customer satisfaction has always been at the heart of the firm's strategy. Customers are very sophisticated individuals; the advent of information technology enables them to have freedom of choice. With a click on the computer keyboard, a customer can find other competitors; compare prices, product quality, and a host of other relevant elements. Consequently, firms use their expertise, durable facts concerning product, service and advice in order to gain their satisfaction and eventually their loyalty (Kunal, Akhilesh & Kumar, 2012).

Companies cannot afford to stay stagnant and passive in an environment where cutthroat competition is the name of the game. Rather, companies must adopt continually what called evolutionarily, updated innovations that carried out about by implementing development plans in technology and business models. Therefore, this study concentrates on the influence of product innovation on customer satisfaction in the pharmaceutical sector in Jordan. Consequently, this study also seeks to answer the following question:

3. Objectives

• 1.

  To examine the influence of product innovation (R&D, packaging quality, branding, technology, and senior management support) on customer satisfaction in the pharmaceutical sector in Jordan.

• 2.

  To arrange factors of product innovation according to its influence on customer satisfaction.

• 3.

  To investigate the level of customer (physicians) satisfaction in product innovation in the pharmaceutical sector in Jordan.

• 4.

  To contribute to the database of the influence of product innovation on customer satisfaction in the pharmaceutical sector in Jordan.

4. Pharmaceutical Innovation

Pharmaceuticals are one sector where innovation dramatically affects the wellbeing and health of a huge number of individuals and it is the primary concern in their strategy. For the majority of pharmaceuticals, innovation is the focal component of their corporate’s mission and they seek to construct an inside culture that can convey it to the market (Adat, 2014).

The rewards for progress are high and the risks of failure can undermine an organization’s survival. Now the pharmaceutical sector is having trouble in keeping up the pace of innovation that patients need and speculators anticipate (DiMasi, 2013).

Innovation is the life power of the pharmaceutical industry and is the main driving force in the growth of the global pharmaceutical from every aspect, especially in making new medicines and packaging. The pharmaceutical industry is recognized as one of the most important and biggest industries in the world and has always been considered as a source of interest to economists and policymakers (Schmid and Smith, 2005).