|Client||A large multinational pharmaceutical firm with a market leading hospital injectable product
Scope: US market
|Company Objectives||A new competitor was expected to receive approval within 6 months. This new product had the potential to be perceived as equal or superior to the client’s product, and the competitive firm had many more resources. Sales and marketing personnel feared the upcoming battle. The client wished to understand its competitive options and to design a plan to maintain its leadership and hold off the competitive challenge.|
|Project Description||Working with the product and sales team, we conducted significant competitive research to understand the competitor’s expectations and most likely plans for the product. We then constructed several scenarios of the launch of the new product.
Bringing together representative from the brand team, sales, pricing & contracting, and marketing research, small groups were formed to evaluate the likely response of key customer segments to the competitive launch and to develop recommendations for the actions the client should take – either in anticipate on the launch or in response to competitive actions.
After several iterations of the scenario analysis process, the groups reached consensus on:
Specific marketing, sales, and contracting plans were developed to cover each contingency.
|Project Outcome||With renewed confidence, sales and marketing personnel followed the plans and were able to hold the competitor to a small presence in the market.|