Marketing Mix (for Pharmaceuticals)
After development costs, the second largest expense for
companies is marketing and selling their new drugs.
competition, declining returns on marketing to
doctors, uncertain returns
from consumer advertising, price resistance,
and the shifting roles of
and physicians in buying decisions.
Many techniques exist for "optimizing" investments across marketing
Unfortunately, most assume that you execute your strategy
in a world that is
largely static. In reality, competitors quickly detect
your strategy’s success
and modify their spending to counter your actions.
Ignoring the realities of
competitive moves and adaptive counter-moves
exposes you serious risk.