Answering some of Pharma’s big questions to drive brand strategies
Delivering on your brand or portfolio strategy can come with some sizeable questions that need to be tackled in order to progress. And not just progress but place you in the best position to achieve your goals! Sometimes, these questions can feel overwhelming – where to start? How do I go about this? How do I tackle this and keep on top of everything else that I need to do? What am I missing?
No need to worry – answering big questions is what we thrive on! With a substantial base of accumulated industry know-how and our problem-solving mindset, our work and advice are grounded in hands-on experience of many of the challenges facing our clients in the pharma industry and medical community today.
Every project is unique and we treat it that way, adapting our approach for every big question that we answer, but here is a taster of some big questions we get asked and our recommendations for answering these.
How do you evaluate potential new strategic opportunities?
An opportunity assessment evaluates every angle by considering the implications of the external landscape and expert insights along with internal priorities. There are many options available for Pharma and Biotech businesses looking to grow or pivot in this time of change, such as new products, technologies, markets, business models and stakeholders/customers. Companies need to make robust decisions about which opportunities to focus on to add the greatest value with limited resources.
A strong opportunity assessment adds significant value to your decision-making, providing clarity on the feasibility of different options and their potential impact. It will highlight what you know and where knowledge gaps lie, directing future analysis and clarifying the path forward towards a decision.
We need to align on target profile (TPP) and target claims (TPC) before moving to Phase III; how should we do this?
TPP/TPC development can sometimes feel like a time-consuming tick-box exercise, especially in highly process-driven brand planning structures. Everyone is busy, and calendars are full. Is my input really needed now? Deciding which functions to engage with (and when) is a key challenge in TPP/TPC development. Done well, however, it is a highly engaging and motivating experience that can galvanize an organization behind a product while laying down the strategic foundations for future success.
You will want cross-functional input from Clinical, Regulatory, Medical, Commercial and Access/HEOR teams, along with Patient Affairs, Government Affairs and Business Insights. A strong ideation and decision-making process is essential to solicit input from all parties and achieve consensus (defined as team buy-in, not necessarily unanimous agreement).
There is so much uncertainty; how can I plan a brand strategy and convey confidence to management?
Uncertainty is everywhere, and the world can change quickly, with much of it beyond our control. Great brand planning does not shy away from this but moves forward, acknowledging and embracing uncertainty. Employing a systematic, structured approach to scenario planning can highlight which areas of uncertainty are key to plan for and communicate upwards.
Start planning based on what you know and can control, acknowledging what you cannot. Consider alternative scenarios and their likelihood and impact. Build agility into your planning and be positioned to react to market movements. Revisit plans regularly – be prepared to pivot and deploy an adaptive strategy.
How much should I involve affiliates when developing my brand strategy?
As a global team, you will no doubt consider the opportunities in key markets and the extent to which local market considerations should inform your strategic plan. Affiliate engagement meetings are critical to gather vital bottom-up insights that can shape your strategy while also giving affiliates the chance to ‘go on the journey’ with you. Done well, this co-creation process offers significant value to all parties without being time-consuming.
There is a co-creation sweet spot where global ‘top-down’ brand planning meets ‘bottom-up’ input from affiliates. Recognizing the value each team brings is crucial, as is timing. Global provides direction and focus, while affiliates bring reality and insights. Partnership must start early enough to help shape the plan and inform direction.
Our product will be launching soon; how should we position it?
Good positioning starts with good insights – what will your customers think, feel and do regarding your brand? Positioning should reflect the intersection of your customers’ associations with your brand and your aspirations for it. If you fail to resonate, the market will position your product for you (and it may not be where you would like!).
Cross-functional workshops, internal and external stakeholder interviews, sifting through market research reports, developing ideas, refining them and getting the brand team in the best possible place to make a strong decision are key steps in this process.
How do we maximize brand value when competitor prices are low?
The temptation is always to go for the biggest pie and as much of it as possible. With drug development being lengthy and costly, the current maxim is typically to seek the highest price possible to recoup investment. However, these dynamics do not always go hand in hand, especially in markets where there are lower-cost alternatives. Selecting where to win (and how to win) is a complex process requiring a strong understanding of the marketplace and its drivers, along with internal cross-functional collaboration, problem-solving, decision-making, and sometimes, bravery. Less is sometimes more.
At launch, focus on the patient group with the most to gain, where your value proposition is strongest. Promotion should target key treaters for this patient group, highlighting value-added points of differentiation supported by evidence of benefit (if possible, comparative) and real-world evidence. Deprioritized patient/healthcare professional segments may be activated later.
