can promotion and partnership coexist?
TRANSCRIPT
Can Promotion and Partnership Co-exist?
Marketing, advertising, selling and the customer
January 31st 2014
Jonathan Dancer
Managing Director, Redbow Consulting Group
Can Promotion and Partnership Co-exist?
Can promotion and partnership co-exist?
Promotion and Partnership?
Promotional Returns
How Marketing Fits in
Perceptions of Value
Can Promotion and Partnership Co-exist?
Potential benefits of partnership
Improved concordance and persistence
Patient education and lifestyle applications
Support for treatment initiation
Outcomes measurement
Building consensus
Service design
Medical education
An increasing proportion of Pharma “promotional expenditure” is directed towards supporting more partnership-oriented activity
Potential barriers to partnership
Practicality
Perception
Stereotype
Memory
Partnership
When a match has equal partners then I fear not.
Aeschylus
The poor man who enters into a partnership with one who is rich makes a risky venture.
Plautus
Promotion
Activity that supports or encourages a cause, venture, or aim
The publicizing of a product, organization, or venture so as to increase sales or public awareness
Oxford Dictionaries
Without promotion things cannot be known…
© Tedd Goff 1999
“Our study concludes that this is the percentage of our customers who will buy from us without any effort whatsoever on our part.”
and promotion does need to be appropriate
Cartoonchurch.com
… but not gratuitous
Promotion – what do recipients say?
With thanks to Ivor Eisenstadt, Managing Director, MGP With grateful acknowedgement to Hilary Burt, Chair JICMARS
Promotion – what do recipients say?
Online is seen as convenient for quick searches, but print is still highly valued
Promotion – what do recipients say?
Online & digital both used across the spectrum of information needs, greatest credibility is from independent sources
The promotional “leaky bucket”
Proportion
Att
rib
ute
Interest
Desire
Adoption/Action
Awareness
I
D
A
A
Predictability of returns on promotion
Promotional Investment
Sale
s Optimal Investment
What we’re “taught”
Promotional Investment
Sale
s Predictability of returns on promotion
Predictability of returns on promotion
Promotional Investment
Sale
s
What the Data show Illustrative
Predictability of returns on promotion
“Expected Model”
Promotional Investment
Sale
s
Illustrative
Predictability of returns on promotion
High Sales with little investment
Promotional Investment
Sale
s
Illustrative
Predictability of returns on promotion
High investment with little sales
Promotional Investment
Sale
s
Illustrative
Predictability of returns on promotion
A spectrum of response
Promotional Investment
Sale
s
Predictability of returns on promotion
Type and Level of Promotion
Extent of Unmet Need
Familiarity of Technology
Ease of Market Access
Thanks to Gary Johnson, Inpharmation
How marketing fits in – traditional view
Marketing is the management process responsible for identifying, anticipating and satisfying customer requirements profitably
CIM
How marketing fits in – alternative view
“A social and managerial process by which individuals and groups obtain what they need and want through
creating and exchanging products and value with each other.”
Philip Kotler 2002
True Marketing is Always Value Based
How marketing fits in
Value does not exist until it is perceived by the customer
Perceived Value influences the price the customer is willing to pay
A Customer cannot perceive value until they “experience” the product
Adoption involves establishing relevance to their own life/role
“Dinner for three”
“Dinner for three”
Today, the “Dinner for Three” food order is (in principle) increasingly aligned :
a). The “family budget”
b). The specified requirement
c). The needs of the recipient
“Dinner for three”
Pharma needs to communicate effectively and appropriately with all three parties.
Advocacy, Recommendation, Prescription
Guidance, Guidelines and Market Access
Informed Patient
Marketing and Market Access are increasingly convergent
Value
Value does not exist until it is perceived by the customer
Perceived Value influences the price the customer is willing to pay
A Customer cannot perceive value until they “experience” the product
Experience involves establishing relevance to their daily lives
Value
Value
Abay “Colors” Age: 2 Displayed: NJ online Children’s Art Gallery
Value
Value
Patti the chimpanzee, age 29 Untitled Acknowledgement: Chimps Inc.
Value
Value
Franz Kline, Untitled Year: 1957 Price : ?$40,402,500 – Nov 14th 2012 The Franz Kline Estate
Value
Value and Affordability
Fitness for Purpose
What will it take to get the outcome needed?
What kind of challenge does this disease present?
Can Promotion and Partnership Co-exist?
Value is the universal currency that enables them to do so
Creation & Exchange of Value
Partnership Relationship
Trust Promotion
Acknowledgements
Ivor Eisenstadt, Managing Director, MGP
Hilary Burt, Chair JICMARS
Gary Johnson, Inpharmation
The Franz Kline Estate
Sothebys Online
NJ online Children’s Art Gallery
Chimpsinc
PetKare Clinic
Hubspot
Ted Goff
www.carpages.co.ukwww.bobamotoring.de
http://www.hdwallpapers.in
http://www.imaginelifestyles.com/
www.carsuk.net
www.azureazure.com
www.cartoonchurch.net
Can Promotion and Partnership Co-exist?
Marketing, advertising, selling and the customer
January 31st 2014
Jonathan Dancer
Managing Director, Redbow Consulting Group