Product Factors that Shape a Successful Metabolic Market Entry: Differentiation, Pricing and Therapy Benefits

STUDY OVERVIEW

New metabolic products are constantly entering the biopharmaceutical marketplace; some therapies are immediate successes while others flounder for months. While there are a myriad of factors that go into preparing a new metabolic pharmaceutical product for market entry, one of the key selling points is a product's characteristics.
Thus, how a metabolic product differentiates itself from existing therapies, how it is priced in the market and its benefits - ease of use, fewer side effects, etc. - are all important factors that shape a new metabolic product's market entry.

Best Practices, LLC conducted this study to highlight the effectiveness of different tactics regarding differentiation, pricing and product benefits. The study also reviews issues surrounding a product's safety and efficacy profile to determine how much more effective or safe a new metabolic product needs to be to have a successful market entry. Launch leaders can use this research as part of building their market entry strategy for new metabolic products.

KEY TOPICS

• Summary of business issue, key insights, findings and lessons learned
• Winning on differentiated product positioning
• Articulating benefits that shape positive market perception
• New product pricing strategy
• Rating the effectiveness of efficacy dimensions
• Rating different safety dimensions

• Effectiveness rating for different positioning strategies
• Effectiveness rating of various metabolic product benefits for differentiation
• Metabolic product differentiation factors that best permit superior pricing
• Minimum level of superior efficacy needed to charge more in crowded marketplace
• Best pricing strategy when entering market with generics competition
• Minimum level of superior efficacy required to charge more than generics
• How much more effective than leading treatment does new product need to win physician trial
• How much more effective than leading treatment does new product need to win payer support
• Rating different safety dimensions that compel physician trial

• Identify A Differentiated Target Patient Population & Help Physicians Correctly Identify Right Target Patients: A clearly defined target patient population or subpopulation has high impact on successful market entry and potential product differentiation. Moreover, it is a launch factor that is frequently missed or executed poorly. Target patient sub-population is also a marketing-sensitive factor and is a cornerstone of market-entry success.

The research employed a data gathering approach that gleaned quantitative data from 44 executives and managers from 38 leading companies in pharmaceutical, biotechnology and medical device industries.

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