2. 4 STEPS TO INTRODUCING A PRODUCT TO MARKET
Disrupt perceived market satisfaction
Bring to market a
unique/innovative product that
disrupts market
Gain rapid availability & access to
all qualified customer channels
Establish LEADERSHIP PRESENCE
with qualified customers in market
Drive awareness of limitations of
current therapies and position your
product as an innovative solution
Develop a segmentation process
where you are gathering feedback
from market research prior to
establishing an R&D model
Customer targeting and develop
“Product Champions” to help fortify
product need/distribution
Create product & resource value that
establishes a partnership with HCP &
patient.
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3. 1ST STEP
Identify a market that NOT only has the best opportunity for market
share points…..but is dissatisfied and/or indifferent.
4. MARKET DISSATISFACTION/INDIFFERENCE
In most markets you’ll typically have a market leader and depending on
that longevity of “Dominance” customers may be ready for an alternative
if it’s differentiating and offers better value than the leader. In addition,
a “dissatisfied/indifferent market may be perceived as a satisfied
market because “Apathy” starts to show it’s ugly head.
Drive awareness of limitations of
current therapies and position your
product as an “innovative solution”
Disrupt perceived
market satisfaction
Strategic Imperative Execution Driver
5. 2ND STEP
If your product has a “Unique” profile or an innovative solution….you have
to exploit it CONSISTENTLY. This is the “Value Proposition” and “Core
Messaging” that will drive distinction.
6. MARKET UNIQUENESS/INNOVATION
This category obviously will rely mostly on your R&D department, however
I would also recommend that there is a partnership with R&D, Marketing,
Market Research, and possibly Commercial should weigh in on the
definition of “Uniqueness”/ “Innovation” in a specified marketplace. We
know that gathering “VOC” from the field yields the best intelligence on
what will have impact in the marketplace.
Bring to market an
“Unique”/”Innovative”
product that disrupts market
Develop a segmentation
process where you are
gathering feedback from KOL’s
and the market research prior
to establishing an R&D model.
Strategic Imperative Execution Driver
7. 3RD STEP
Gain rapid availability and access to ALL qualified customers across
channels that make sense. While this is the 3rd Key it is a crucial
step that the distribution process is efficient and targeted through
the correct channels.
8. MARKET AVAILABILITY/ACCESS
Depending on the market there are channels that have varying levels of how
products are delivered from a “Buying Process” perspective. These “Varying
Levels” are critical to identify, if it’s a product that goes thru an institutional
process there’s GPO’s, hospital formulary/buying processes etc. that a product
must funnel through. If it’s a retail product there’s a distribution funnel through
retail chain channels that need to be identified.
Gain rapid availability &
access to ALL qualified
customer channels
Customer targeting and develop
“Product Champions” to help fortify
product need/distribution.
Strategic Imperative Execution Driver
10. MARKET LEADERSHIP PRESENCE
Developing a “Leadership Presence” takes time and without Keys 1-3 in
place… developing any form of leadership will be near impossible. Taking
over in a leadership position offers many benefits (e.g., customer loyalty,
habit using your product, you will be sought out for expertise). This step is
EARNED however can be gain with positive product experience, excellent
customer service, and EDUCATION to the HCP and importantly the patient.
Establish “Leadership Presence”
with qualified customers in market
Create “Product” & “Resource” value
that establishes a partnership with
HCP & patient.
Strategic Imperative Execution Driver
12. WHAT IS THE BUSINESS NEED?
Before bringing any product to market an identification of potential hurdles,
possible levers for success, and the development of high-level tactics that could
support increased performance for the new product.
Hypotheses for Value Maximization
Pricing and
Access
Clinical
Positioning
Commercial
Strategy
Packaging,
Manufacturing,
and Logistics
Potential “Levers” Explored Subsequent Tactics
Additional Detailing
Refined Pricing Strategy
Refined Clinical Data Package
Change in OPEX Spend Mix
This information can be gained through market research and conducting a “New Brand Diagnostic” designed to
uncover potential forecast intelligence/revenue for new product.
Increased Focus on Product
Value Proposition
13. WHERE DO WE WANT TO PLAY?
The objective is to identify and address what approaches to take for growth across four key
areas:
Core: 1st Approach
§ What is the potential penetration of
new product within the chosen
customer channel?
Core: 2nd Approach
§ To what extent can revenue be
increased by increasing the level of
“reach” for new product?
Ancillary: 3rd Approach
§ To what extent can additional
customers KOL’s (e.g., general
surgeons) support the utilization for
the new product?
Commercial Approach
§ What additional marketing activities (e.g., medical
marketing, KOL outreach), positioning, or pricing could
potentially optimize revenue for the new product?
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15. MARKET FITTED ANALYSIS
EXPLORE PHASE
Situation analysis, review of the
market/ brand, its customer(s),
and its competition
Discover key brand
opportunities, current customer
segmentation behaviors/brand
leverage points, brand
positioning
Build the “Personality” of the
brand/campaign and
implementation strategy
Measure effectiveness of the
Explore Phase, Assemble Phase,
and Sense Phase. A “Checks &
Balance” approach
Discern the Market Develop Marketing
Objectives & Strategy
Design & Implement
Integrated Campaign Track & Reevaluate
ASSEMBLE PHASE SKILL PHASE EVALUATE PHASE
“The 4 Phases”
16. EXPLORE PHASE
Market Definition
Defining Customers
• Each customer segment has a different
set of interests (preferences, behaviors,
and beliefs)
• Each customer segment requires a different
approach with regard to goal setting
and strategies
• Identifying “Optimistic Customers” versus
just “Rich Customers”
Defining Competition
• Analyzing your customers through different
approaches (e.g. situational analysis,
customer segmentation diagramming, etc
• “Strategic War Game”, Market Research
elements that identify key market areas,
market shares, sales force intelligence,
marketing capabilities
• Intelligence from “Key Opinion Leaders”
17. ASSEMBLE PHASE
Innovative Campaign and
Messaging Mapping
Positioning Statement
• Identify specific customers behaviors
• Are there leverage points to consider?
• What are the desired behavior
changes?
What are the “PRIORITY” target
segments?
What are the drivers & barriers
to behavior objectives?
Can we carve out a “UNIQUE” product
advantage? What is the “Value
Proposition”?
Strategic Levers Market Map
Customer Portrait Benefit ladder
Build the “Positioning
Statement”
Develop Marketing
Objectives & Strategy
18. SKILL PHASE
Review brand strategic plan
I. Gain buy-in on:
• Tactical direction
• Allocation of funds
-Investment by strategy
-Distribution of funds by broad bucket
-Pre-launch and Post-launch spends
-Spend by key tactic
• Key Initiatives and Plan of Execution
Design & Implement
Integrated Campaign
20. 4 STEPS TO INTRODUCING A PRODUCT TO MARKET
Disrupt perceived market satisfaction
Bring to market a
unique/innovative product that
disrupts market
Gain rapid availability & access to
all qualified customer channels
Establish LEADERSHIP PRESENCE
with qualified customers in market
Drive awareness of limitations of
current therapies and position your
product as an innovative solution
Develop a segmentation process
where you are gathering feedback
from market research prior to
establishing an R&D model
Customer targeting and develop
“Product Champions” to help fortify
product need/distribution
Create product & resource value that
establishes a partnership with HCP &
patient.
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