Marketing strategies relying on relationships with HCPs don’t suffice anymore. Changes in the pharmaceutical and device industry are prompting a total rewrite of the marketing playbook.
The New Stakeholders
The shifting centre of gravity within the industry poses unique challenges. The industry has moved from being mainly driven by individual prescribers to having to weigh input from a diverse set of stakeholders, including regulators, insurance companies, hospital administrators, managed care organizations, nurses, social media, and, of course, patients.
Getting ‘under the skin’ of the relevant stakeholders is a critical marketing and sales task. Complicating the matter is the fact that these newly empowered decision-makers have differing, often conflicting needs and wants.
By far the most game-changing drilling-down trend in the industry is personalised healthcare (PHC), an approach that aims to match medicines to specific patient groups. Marketers need to adapt their strategies in an attempt to claim their share of the market, redrafting their stakeholder maps and judging the level of power each one holds to affect decisions and outcomes.1
1. B. Kessler. Insead Knowledge. The New Rules of Pharma Marketing. September 11, 2014. http://knowledge.insead.edu.