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Pharmaceutical industry is undergoing a transition. Hundreds of drugs that have been bread winners for their marketer are going out of patent; opening the doors for generics and "me too" products. Because of lack of right infrastructure and support, the small companies engaged in R&D are finding it difficult to commercialize new innovations.
There was a time when a small research and development firm had the makings to evolve into a fully-integrated commercialized pharmaceutical company. Today such a progression is becoming increasingly difficult as the soaring costs of drug discovery, drug development and marketing escalates capital requirements beyond the reach of most small R&D ventures.
On their way to commercialization, these small biotech firms are either purchased by bigger established pharma companies or mature into specialty pharmaceutical companies rather than become fully integrated corporations. Small companies lack the commercialization expertise and deep pockets of their big brothers. For these small companies the points of concern are- - Finding the right target segments that can offer best returns
- Inexperience in planning & allocating the most desirable sales force size and structure
- Choosing the most appropriate message and positioning for the new product
- Lack of access to accurate promotion response
- If their launch plan is following the right approach to give them incremental benefits or not.
marketRx offers a complete range of launch planning solutions and helps you define a long, success-oriented path for your new products; enabling you to not only reach your targets but also expand your market potential.
Our range of solutions covers all launch related activities like-
- Historic Data Analysis and Market Research
Enabling you to identify right target segment, positioning & messages for your product and deduce uptake forecasting & validation
- Sales Planning and Implementation
Helps you plan right sales force size and structure; facilitate territory alignment & deployment along with call planning & Incentive compensation.
- Tracking and Contingency Planning
Aids you in tracking brand KPIs, competitor’s activity, market event and planning for if-then scenarios
When you work with marketRx, you get a well defined launch planning and execution framework based on high end analytics, world-class technology, market research and extensive brand management expertise.
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Case Study Example: Strategy, Planning and Execution for Launch of New Indications for a Major Pharmaceutical Company
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| Objectives |
The client with an existing cardiology product was planning to launch several new indications spread over 4 years. The biggest challenge for them was incomplete secondary data and presence of targets for new indications outside the current market. Further, several new competitive launches for all indications were expected during this planned timeline. They needed to develop
- A targeted & actionable segmentation
- Evaluate umbrella/indication positioning messages
Leverage available and new market research to make informed sales force strategy for the new indications
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| Our approach
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- marketRx followed an integrated approach to deliver maximum benefits to the client. Our qualified project team started segmenting the customer base to identify high-value target segments
- From the research, the team also deduced the best positioning for each indication and the ‘umbrella brand’
- Primary market research and analog secondary data analysis gave insights on adoption and uptake parameters for promotion response modeling, among other critical factors
- Along with historical patient claim data, research helped determine the impact of major market events in horizon
- Response models were thus developed linking all the key parameters, yielding accurate forecasts
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| Key Outcomes
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Client was able to derive the following benefits:
- Analytics and research based segmentation process and positioning concepts testing helped derive the best results
- Incremental benefits by use of integrated approach, linking historical data analysis with market research and modeling
- Accurate forecast models linking customer attitudes, anticipated behavior, market events, required sales resources and sales results
- Laid a strong foundation for further sales planning exercises like sales force sizing, structure and deployment
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Partner with marketRx to alleviate all your launch related apprehensions by leveraging our complete range of customized solutions addressing your all sales and marketing planning needs to maximize your returns.
 Click here to view the Launch Planning and Management Flash
Presentation
 Click here to download PDF version
 Click here to contact us
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