Targeting Pharmaceutical Customers through Market Segmentation
Drive demand with world-class segmentation research methods that create new paths to customers. Best Practices, LLC undertook this benchmarking project focusing on market segmentation in order to identify the world-class marketing capabilities that will drive demand and market growth. With this benchmarking research, managers and executives can review, evaluate and adapt the most effective and innovative segmentation strategies and practices that other top pharmaceutical manufacturers have successfully implemented.
Sales and Marketing > Marketing Management d
Industries Profiled:
Pharmaceutical; Biotech; Health Care
Companies Profiled:
A Leading Pharmaceutical Company; Sanofi-aventis; AstraZeneca; GlaxoSmithKline; Novartis; Pfizer; Schering-Plough
Study Snapshot
Best Practices, LLC undertook this benchmarking project focusing on market segmentation in order to identify the world-class marketing capabilities that will drive demand and market growth. With this benchmarking research, managers and executives can review, evaluate and adapt the most effective and innovative segmentation strategies and practices that other top pharmaceutical manufacturers have successfully implemented. Readers will also develop a deeper understanding of leading drug companies’ organizational and team structures, resource allocation, research tools and methodologies that support their segmentation strategy development and implementation.
The insights and best practices showcased in this study are distilled from in-depth interviews with top executives who have extensive experience in market segmentation. Senior marketing management at benchmark partner companies have begun to see market segmentation as a new tool to drive market growth. In short, segmentation strategies are growth strategies! Benchmark partners describe the benefits of their market segmentation initiatives as a cascade of successes that build upon one another. Market segmentation enables pharmaceutical companies to:
- effectively identify unmet medical needs in the marketplace,
- create new pathways to customers,
- develop well-differentiated, commercially-focused product/service offerings,
- tailor marketing communications to different audiences,
- focus sales targeting efforts,
- coordinate product/service delivery channels,
- maximize lifetime value of product innovation,
- improve customer service and loyalty, and
- optimize resource allocation.
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Key Findings
Through our research, Best Practices, LLC analysts have identified five key operational areas that form the foundation of superior market segmentation systems. These operational areas have been used to organize benchmark interview insights and findings:
1. Strategy and Structure
2. Segmentation Research Methods
3. Resource Allocation
4. Implementation Planning & Support
5. Continuous Improvement
When these five areas are coordinated as an integrated system, they create a useful model for effective ongoing market segmentation management.
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Related Research:
Educating The Market: Creating Value Through Support of Continuing Medical Education
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STUDY OVERVIEW
With limited information on actual return on investment for expenditures toward support of Continuing Medical Education activities, Pharmaceutical and Biotechnology companies are anxious to understand the value of CME support and strategies for ensuring investments provide appropriate impact on healthcare practitioner behaviors and patient outcomes... (ID PSM-223)
Companies Profiled: Alcon Laboratories, Sanofi-aventis, Talecris, Sepracor, more ...
Price: $5995.00 Free Excerpt Available
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