We worked with a mid-sized pharmaceutical manufacturer based in the US preparing to launch a product in a competitive market. The client hired us to evaluate four to six possible marketplace scenarios to determine possible appropriate actions under certain marketplace conditions. The client also wanted to better understand potential market evolution, their competitors, and their internal stakeholders’ objectives to prepare their team for anticipating and countering competitive moves with a goal of creating a competitive environment more favorable to their success.
To do so, we held a daylong workshop testing scenarios for competitor and customer/payer responses to various launch positions and tactical plans. We test drove parts of the client’s tactical plan and messaging and received potential competitor and payer reactions. The workshop and pre-meeting preparation examined market dynamics created by new competitive entrants and how they may influence action and value perception. Workshop participants included customer-facing individuals for key accounts, brand, and other supportive home office functions.
We devised various market scenarios for the client to determine the likelihood and relative impact upon the market. We developed background materials, including competitive profiles, sample marketing plans, and complete analyses of customer groups and market conditions. We also conducted simulation exercises with multiple teams to evaluate scenarios and market developments to devise optimal responses and actions. We summarized key findings and recommendations based on the simulation and analysis. We provided a roadmap of expected actions and reactions of all key market participants and outlined an organized approach for the client to utilize as the competitive set evolved. Our insights were used to refine the product launch plan and to build knowledge and confidence within the internal team.