Typically, data from pharmacy transactions are used as a proxy for understanding the patient experience. This interactive presentation allows the audience to openly discuss the types of questions that may need to be answered from the patient’s perspective in order to uncover the hidden value of a few case study pharma products.
4. Group Discussion “The pharmaceutical industry has been slow to adopt analytics, compared to consumer packaged goods, telecommunications, financial services.” In five minutes, discuss reasons why you think that might be so … Include a rationale that includes how pharmaceuticals are different from other industries …
5. The pharmaceutical industry has been slow to adopt analytic innovations: that, until recently, the margins in pharmaceuticals were so healthy that analytics were not as necessary, 2) the number of influencers in the purchase decision were too complex for traditional modeling techniques (not just consumers but patients, physicians, and payers, let alone caregivers, nurses, and regulatory agencies), 3) the sheer amount of secondary data that have been available for tracking demand have paralyzed the analytic arm (try to think of another industry where each purchase is recorded and reported in such detail for regulatory reasons – gun sales might be the most comparable) 4) considering that pharmaceuticals are “negative goods,” (that is that given a choice, people would rather to not have to purchase or take drugs) traditional marketing research may not apply in the same way as telecommunications or consumer packaged goods (“positive goods” – everyone wants an iPad!!) 5) in addition to regulatory challenges, there are complexscientific and ethical considerations when marketing pharmaceuticals or medical devices that limit the ability to apply some market research recommendations.
6. More than 75% of research is focused on Physicians The remainder is split between patient and payer research. But come on! How much influence does a patient REALLY have in a prescription decision?
19. Market: Multiple Sclerosis – Oral Agent (for illustration purposes only) Slow onset; some familial genetic risk Symptoms can be mild for years, even decades Oral agents have been in the market for less than a year
20. Group Discussion In five minutes, list all of the waypoints along the patient journey: decision points or events for patients. (These are not people or places, just events). Make at least 10 rows …
22. Group Discussion In five minutes, for each of the waypoints list all the key influencers with whom the patient will interact. These can be persons, places, or things. Have at least 10 different influencers …
24. Group Discussion In five minutes, for each of the influencers that you can, indicate a marketing tactic or a development opportunity that might have benefit for your brand. Have at least 10 different tactics total … Indicate likelihood to influence with that tactic (High, Medium, Low, None)
26. Group Discussion Put a * next to tactics with competitive advantage/disadvantage
27. Market: Multiple Sclerosis – Oral Agent (for illustration purposes only) Slow onset; some familial genetic risk Symptoms can be mild for years, even decades Oral agents have been in the market for less than a year