Defend The Legacy

Background

Building a brand in an established market with little to no competition is more common, and difficult, that one may think. In the pharmaceutical industry, this situation often manifests itself as competing against generic products – which only means the competition has shifted from branded products to the beliefs and patterns of behavior among prescribers. Converting customers is extremely challenging, and even after reaching high share – single brand markets are attractive to new entrants. Our Client – a mature, established pharmaceutical brand in the cardiovascular space – found themselves in this scenario and needed to develop a training strategy to help their experienced salesforce sell against branded competition for the first time and ultimately, defend their hard-earned legacy.

Approach

In order to pinpoint the skills required to both defend our Clients’ brand legacy while positioning it for growth, we performed a multifaceted study on each competitor’s brand to reveal the strengths and strategies they would use to compete, including:

Approach

Strategic importance to the enterprise expressed as revenue contributions in selected markets
Company culture, values, key investments, and partnerships
Salesforce effectiveness expressed as “Return on Detail Spend”, across prescriber segments, including both NBRx, and TRx
Salesforce efficiency expressed as Revenue / Scripts per Representative
Clinical profile, access scenarios, & treatment guidelines cross-referenced with segment-specific prescriber attitudes & behaviors
Home-market marketing campaigns & market prep activities

Outputs

Outputs from this research gave us a clear, detailed picture of the competitive landscape and more importantly, the dynamics at play between the new entrants, customers, and our Client. By leveraging a precedent-based approach, we were able to design and craft a training module built from repeatable, winning insights into how other organizations defended their legacies from competition in analogous scenarios. By learning how Disney, Levi’s, Microsoft, Listerine, Spotify, Band-Aid, IBM – among many others – fought off new entrants, protected their brand legacy, and strengthened their brand equity, our Clients’ salesforce continued to dominate in the cardiovascular market and maximize the efforts made by marketing and market access teams.

Consultant Name

Stephen Moulton

05.31.2023

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