A key factor for a pharmaceutical company in any successful drug launch, large or small, is knowing and understanding the market and its needs. In this digital era, more and more of these conversations with influential healthcare professionals (HCPs) are happening online, and importantly, they can shape the success of a drug’s launch and set its course for the decades that follow. The key is tapping into these invaluable HCP insights to drive your drug launch strategy.
It is never too early to start – at CREATION.co we can help you plan a drug launch that resonates with your customers and their digital behaviours. Using CREATION Pinpoint®, we can not only help you develop a deep understanding of your customers and their needs, which allows you to create a powerful and meaningful brand, but we can help you identify and engage with HCPs who matter to you.
Whether you are launching a new drug or an existing drug in a new indication, contact us today to discover more about how CREATION.co can help you leverage HCP online market research.
Get in touch to find out moreSadly, a good proportion of new drugs fail to meet pre-launch expectations, with research showing that a vast majority of these drugs continue to miss market expectations 1–2 years after their launch. There are a number of factors that may contribute to an unsuccessful drug launch, including, limited market access, inadequate understanding of the market needs, and poor product differentiation from your competitors. However, by having an awareness of these hurdles, you can understand what your pharma company needs to do to have a successful drug launch. Simply, you should use a market-led approach.
A market-led approach to brand planning during new drug and medicine product launches focuses on having an in-depth understanding of the customer using multiple methods of market research, strong brand positioning based on medical benefits and delivery of innovative customer value beyond the product itself, and pulling together a cross-functional team under one shared vision and goal.
This cross-functional team may consist of a:
Over a number of years, there are three phases when thinking about effectively bringing your product to market – pre-launch, launch year, and post-launch. The very beginning of a product’s lifecycle is arguably the most critical, and the area where the greatest opportunity for success usually sits. So it’s important, more than ever, to get the launch right.