Research Before Product Launches
Product launches can be tricky. A product that looks as if it should sell for $10 a pill in Europe may need a quite different pricing in certain countries in Southeast Asia or Africa. Even within a country, different state governments may have different policies regarding supply, distribution or reimbursement of certain medicines.
Launching a product in a state with poor health indicators or an unorganised distribution system could generate negative consequences for your product. Knowing the market you are about to enter is critical in ensuring a successful product launch.
The answer to this is good quality market research.
Qualitative market research with the right stakeholders before a product launch can ensure that you have systems and networks in place to help your product launch successfully.
Who are the key people you have to know on the ground before a product launch? What are they thinking? What are the policies in place that can help your company? Who can be your key collaborators in these markets? How can you correctly price your product and are there any alternative pricing scenarios you can use?
Good quality market research can help you answer these questions and more.
What we’ve done
- Run scenario-based market research exercise on alternative pricing strategies for certain high cost cancer drugs for a major pharmaceutical company that was looking at launching products in low and middle-income markets
- Examined the drivers and barriers to adopting an HIV vaccine in 28 countries and estimated the likely market in seven (for a major vaccines producer)
- Been involved with the International AIDS Vaccine Initiative since its earliest days as part of the Rockefeller Foundation and helped to set up both its communications function and its international programmes
- Worked on the introduction and use of hepatitis B vaccines in several countries
- Looked at likely future markets and enthusiasts for a hepatitis C vaccine for a major pharmaceutical company