Post Launch
How does a Life-cycle assessment study help?
A Life cycle assessment study paves the way for renewal strategies at the therapy and brand levels. Based on the overall category prescription trends it is advisable to proactively plan for marketing interventions at late-growth, maturity, and decline phases. Timing is of the essence, and it is seen that the benefits largely accrue to the early mover.
This exercise is essential in the format of Product Management Workshops that stimulate, challenge, and invigorate the marketing skills of the participants resulting in sharper strategies that are well aligned with the prescription and retail offtake trends.
Some of the considerations are:
- Will new line extensions inject renewed interest?
- Should pricing be a strategic element of promotion?
- Can new indications (evidence based) be explored for giving a boost?
- Should the brand equity be transferred to a successor (say an isomer)?
- Is prescription to OTC switch justifiable given the circumstances?
- Should a physical segmentation strategy be brought to play (say rural coverage / new geographies / new marketing division)?
What is a Market-Leader benchmarking study?
Before an impending launch, it is always advantageous to be forearmed with competitor intelligence. This will serve to engineer a creative differentiation for quick penetration and prioritize diffusion of a message to the intended recipient. This study can be undertaken either before launch or after 2-3 years of aging in the marketplace. The market leader is chosen on two criteria-leader by prescription share and leader by retail market share.
The key areas of analysis would be:
- Core detailing message
- Marketing channel utilization
- Marketing campaigns
- Key message recall by physicians
- Messaging trend analysis
- KOL perceptions about the market leader
Get in Touch with us for a discussion, should you find this interesting!