Can you believe the last 3 companies I have been involved with have the preferred partners as their vision. I'm halfway thorough an article on this as I do find it quite amusing that people in senior positions can have such little vision (or at least employ agencies with such little vision!)
If we consider what a vision is; a vision should be a definition of what the corporation should be, defining the basic needs it fulfils and the general direction in which the company should go.
The preferred partner is a bit limp when you consider it in these terms!
Lets take my company as an example. Now I could have a vision to be the preferred partner but it does not really say much about my company or what direction I want to go!
Now I want to do strategic marketing consulting with small to midsized pharma because I believe I have a unique skill set based on my experience and capabilities; problem solving, insights, innovation and working across functions.
The need I believe I can fulfil better than anyone else is a need for senior marketing capabilities in organisations where they do not currently exist in house. OK there are a lot of agencies offering these types of services so what is my differentiation? Well you get me for one! And also due to very low overheads I'm relatively cheap!
So what is my vision? To create a profitable company of like minded professionals by beating established agencies in gaining business from small to midsized pharma who need senior marketing skills that do not currently exist!
OK it's not a snappy as the preferred partner but doesn't it say a little more about my company and may be could be a little bit more inspiring than the off the peg solution!
Why not give the ambitious but small guy a call before going to the "preferred partner!"
Friday, 17 September 2010
Thursday, 9 September 2010
The Pharma Paradox (again!)
It seems that at least one "pharma pundit" has misunderstood my recent article (http://www.pharmaphorum.com/2010/09/06/the-pharma-paradox/) on the relationship between innovation, patents and brands!
Innovation is the implementation of a new idea, a patent is obviously the most secure way to protect that innovation from copies however a brand could be the most profitable way to protect innovation since the brand (trademark) can never be copied!
In pharma we have often talked about the importance of branding and the gurus always throw Lipitor up as the great success. Now I am not an expert on Lipitor however there are a number of questions that would need to be asked before we can claim it is a successful brand. Many of the arguments that are leveled against others products that have not been successful apply equally to Lipitor! (decision maker is not the consumer, rational appraisal of data impacts on buying process i.e. formularies, payors etc.)
So what makes Lipitor a successful brand? OK it beat the competitors; Zipff's law would probably have predicted that based on the level of resources behind the product! Many people know its name! Well most people know Apple but still buy PC!
The challenge we have in pharma is that no one really knows what is going on! Market research will give some info but rarely is it sufficient to tell us the extent of the emotional attachment a prescriber has with a brand! (I have a Ducati and could probably give a number of reasons why I have this and not a Honda or a Suzuki but the fundamental reason is that I want to say something about myself that only owning a Ducati, and the particular model I have, can ever say about me!)
So what can we do in Pharma?
Well first off is look at your customers and your product and then look around them!
What else do your customers do and why? What other needs do they have? Some companies are doing this in specific areas; a nurse friend of mine speak very highly of Novo Nordisk and their Diabetes services without even talking about the product (The corporate brand provides everything she needs for the care of her diabetes patients)
Look at the other influencers in the buying process. What are you really doing for payors, pharmacists, consumers etc.? Providing some tailored information? Wow! Running an advisory board? Look around, what else do they do, what other needs do they have?
There is still a long way for pharma to go if a brand is truly going to be more than the product with a big push behind it but now is probably the time to start investing (while other pull back!)
Now back to work!
Innovation is the implementation of a new idea, a patent is obviously the most secure way to protect that innovation from copies however a brand could be the most profitable way to protect innovation since the brand (trademark) can never be copied!
In pharma we have often talked about the importance of branding and the gurus always throw Lipitor up as the great success. Now I am not an expert on Lipitor however there are a number of questions that would need to be asked before we can claim it is a successful brand. Many of the arguments that are leveled against others products that have not been successful apply equally to Lipitor! (decision maker is not the consumer, rational appraisal of data impacts on buying process i.e. formularies, payors etc.)
So what makes Lipitor a successful brand? OK it beat the competitors; Zipff's law would probably have predicted that based on the level of resources behind the product! Many people know its name! Well most people know Apple but still buy PC!
The challenge we have in pharma is that no one really knows what is going on! Market research will give some info but rarely is it sufficient to tell us the extent of the emotional attachment a prescriber has with a brand! (I have a Ducati and could probably give a number of reasons why I have this and not a Honda or a Suzuki but the fundamental reason is that I want to say something about myself that only owning a Ducati, and the particular model I have, can ever say about me!)
So what can we do in Pharma?
Well first off is look at your customers and your product and then look around them!
What else do your customers do and why? What other needs do they have? Some companies are doing this in specific areas; a nurse friend of mine speak very highly of Novo Nordisk and their Diabetes services without even talking about the product (The corporate brand provides everything she needs for the care of her diabetes patients)
Look at the other influencers in the buying process. What are you really doing for payors, pharmacists, consumers etc.? Providing some tailored information? Wow! Running an advisory board? Look around, what else do they do, what other needs do they have?
There is still a long way for pharma to go if a brand is truly going to be more than the product with a big push behind it but now is probably the time to start investing (while other pull back!)
Now back to work!
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