Background
Our previous work with a long-standing client highlighted a need for gathering intelligence on competitor messaging to hospital pharmacists so that the client could adopt the best tactics to differentiate from competitors and maintain market share.
The client was also interested in obtaining information on how decisions to acquire new products are being made at the local level and what drives the decision-making to ensure that value messaging aligns with stakeholder needs.
Valid Insight Approach
We commissioned a competitive landscape assessment including a review of publications, conference reports, news articles, press releases, earnings calls, company websites, and clinical trial records.
To enhance this, we conducted primary research in key markets, speaking to local hospital-level pharmacists to validate competitor positioning and messaging and understand the decision-making process for a formulary listing of the product class.
We then developed a comprehensive report, with key recommendations for the product messaging to maintain and extend market share.
Results
The client gained insight into the key differentiators being used by competitors in their discussions with hospital pharmacists.
We provided clear recommendations on how to improve the differentiation of the client’s molecule and what additional tactics could be considered to defend and even extend market share and positioning.