thoughts on . . . marketing

M A R K E T I N G

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Beliefs based on personal values, experience and readings. This reading is continually under review & will never be finished Comments/feedback always welcome. Twitter: https://twitter.com/2010Robh

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ESSENTIAL ELEMENTS OF BRAND MANAGEMENT

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• The quiet skills of empathy and perception.

• Brand managers should write their own strategic marketing plans (& not outsource to 3rd parties).

• Good data is the foundation for making smart decisions.

• Use your social networks to do lightweight research early on.

• Be crystal clear about patient Journey and Health Care Professional’s personas.

• Create a document that spells out launch positioning early on. (Ask yourself: Will the positioning make sense to customers?)

• Choose the metrics that will be the key performance indicators & how data should be segmented

• Create web-based content that explains your product.

• Web and print material based on AIDA formula (Attention, Interest, Desire, Action) * See Ian Moore’s NEW AIDA

• Create a shared file filled with resources to empower your KOL’s.

• Apply Pareto’s ubiquitous 80:20 principle

Brand Launches

• Create a detailed action plan for D1, W1, M1, M3, M6 of your launch.

• Have a weekly war room for your launch team.

• Make sure your launch gives people have a reason to care.

• Attach your launch to a bigger story.

• Six-month window is the precursor of success





CHECKLIST: LAUNCH MINUS 2-5 YEARS

Marketplace analysis

Current & future Market dynamics

size, value & growth trends.

Physician & patient journey maps

Competitive intelligence

Primary marketing research

Patient, HCP & product insights

Novel approach to Pricing

Reimbursement access

Patient segmentation

Brand identity & positioning

Brand messaging

Communications Medical societies guidelines

Patient and disease advocacy groups

External communication/PR plan

Social media

Brand/portfolio strategy

SWOT/Porter’s “Five Forces” analysis

Life cycle management plan

Partnering (co-promotion / co-marketing)

Positioning - identify hole in the market

Anticipated competitors’ response

Sales force requirements

Forecast Sales/Expenses/ Market Share

Action plan & milestones

Medical/Regulatory/ Market Access

Regulatory Strategy

Pricing & Reimbursement Strategy

Data to support strategy

Familiarization programme

Real World evidence

Local/Global trial participation

Advocacy / Influencers plan

Advisory boards

CHECKLIST: LAUNCH MINUS 12 MONTHS

Marketplace analysis

Market dynamics

Competitive intelligence

Market research

Physician segmentation & targeting

Patient flow & Patients segmentation

Communications Medical societies guidelines

Patient and disease advocacy groups

External communication/PR plan

Social media plan

Nurses Advocacy Plans

DTC\DAC Plans

Internal PR plan

Brand/portfolio strategy

Positioning with a clear point of difference

Key message with staying power

Action plan with milestones

Congress Activities

Launch Visual Aid & Promotional Materials

War rooms for cross-functional meetings

Targeting

Call plan, SOV, Incentive Plan

FF structure

Partner deal structure & governance

Education/Training

Anticipated competitors’ response

Forecast Sales/Expenses/ Market Share

Medical / Regulatory / Market Access

Build a robust key opinion leaders’ (KOLs) network

Advisory boards

Familiarization programme

Medical Education Plan

Payors Access plan

Phase IV, Registries ,Observational studies

Peer to Peer Referral Network

MSL actions plan & messages

KAM actions plan & messages

Local Clinical & HE/OR Publication plans

Retail / pharmacy/ PBM programs

Logistics/Operations Logistics/Packaging

Production planning & sampling strategy

Distribution readiness /wholesaler strategy

Tracking & Performance Management Pre Launch KPIs monitoring

Post Launch KPIs monitoring

Utilize advanced analytics

Executive committee reviews

Confront launch plan gaps

READINGS Readings contain my take home messages and do not necessarily reflect the author ’s complete work.


DOES YOUR MARKETING SELL? THE SECRET OF EFFECTIVE MARKETING COMMUNICATIONS - IAN MOORE


• Marketing requires the quiet skills of empathy and perception

• Write down your desired customer reaction to your advertisement

• Think and speak one to one, not to all.

• If you can’t find interesting specifics, you should really question why you are

advertising at all.

• Include benefits in Ad headlines.

• After self-interest, news is the second most effective motivator. Inject news and

make it quick and easy.

• You don’t need to make your customer interested, you need to speak to their

already existing interest - Write for the interested customer.

• Couponing is much maligned but it really works.





GOOD STRATEGY / BAD STRATEGY: THE DIFFERENCE AND WHY IT MATTERS - RICHARD RUMELT 1 OF 2


• The core of strategy is about focus and the application of strength against weakness or the most promising opportunity;

• A good strategy has an essential logical structure that contains three elements: a diagnosis, a guiding policy, and coherent action;

• First work to discover the very most promising opportunities for the business;

• The cleverest strategies begin with strategic resources that competitors cannot duplicate without suffering a net economic loss.

• Look at the special skills and resources that underlie a competitive advantage (momentarily look away from products, buyers, and competitors)

• Achieve leverage by identifying a pivot point that will magnify the effects of focused energy and resources.

• To obtain higher performance, leaders must identify the critical obstacles to forward progress;

• Look very closely at what is changing in your business, where you might get a jump on the competition;

• A good strategy doesn’t just draw on existing strength; it creates strength through the coherence of its design;

• Advantage is rooted in differences. By providing more value you avoid being a commodity.





GOOD STRATEGY / BAD STRATEGY: THE DIFFERENCE AND WHY IT MATTERS - RICHARD RUMELT 2 OF 2


• Create-destroy discipline. The creation of new higher quality alternatives requires that one tries hard to “destroy” any existing alternatives, exposing their fault lines and internal contradictions.

• The most powerful strategies arise from game-changing insights;

• Pre-commit to a position and then evaluate your own judgment to increase the chance of learning something.

• Take on the viewpoints of others. See how the situation looks to a rival or to a customer, anticipate others’ behaviour.

• Engineering higher demand for the services of scarce resources is the most basic of business stratagems.

• Follow Michael Porter’s “Five Forces” analysis in preference to SWOT analysis.

• Leaders must acquire enough expertise to question the experts.

• You should have a very short list of the most important things for the company to do.

• A strategy that fails to define a variety of plausible and feasible immediate actions is missing a critical component;

• Make objectives more like tasks and less like goals.

• Look five to ten years ahead.

• Avoid strategy plans by template filling





HOW MANY P’S IN MARKETING ?


4 P's:

• Product, Price, Place and Promotion

Other P’s:

• Planet (sustainability)

• Packaging

• People

• Profitability

• Process

• Physical evidence

4 E’s

• Experience(Product), Everyplace(Place), Exchange(Price), Evangelism(Promotion)

4 C’s

• Consumer Wants and Needs, Cost, Convenience and Communication





MICHAEL PORTER’S “FIVE FORCES” ANALYSIS


• Threat of new entrants

• Threat of substitute products or services

• Bargaining power of customers (buyers)

• Bargaining power of suppliers

• Intensity of competitive rivalry

• Fragmented (eg, shoe repairs, gift shops)

• Emerging (eg, space travel)

• Mature (eg, automotive)

• Declining (eg, solid fuels)

• Global (eg, micro-processors)



