Pharmaceutical Industry Case Study
What is the optimal product launch strategy?
An automotive manufacturer wanted to increase demand for its vehicle lineup, become more profitable, and improve the efficiency of related product development processes.
A pharmaceutical company was transitioning one of its products from prescription to OTC. The marketing team was experienced with Rx launches but had never launched a product in consumer retail. The category was also heavily crowded. The marketing team wanted to test their current marketing plan to ensure they would meet the minimum sales targets.
Based on the current marketing plan that included traditional Rx tactics, Concentric Market® revealed they would significantly miss their sales target unless they adjusted their marketing mix.
The team used Concentric Market® to test different strategies.
What if we change our marketing mix?
The team used Concentric Market® to test different strategies that were more commonly used in CPG marketing. They found that shifting their investment from an influencer strategy to in-store support would enable them to meet their goal.
Marketing Plan Optimizationon
Launch program was the highest grossing prescription to OTC in company history.
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“Concentric shines in simulating events that have never happened in real life, such as a new competitor entering the market.”
Director, Analytics and Insight