Marketing Mix (for Pharmaceuticals)

After development costs, the second largest expense for
pharmaceutical companies is marketing and selling their new drugs.
Challenges include competition, declining returns on marketing to
doctors, uncertain returns from consumer advertising, price resistance,
and the shifting roles of consumers and physicians in buying decisions.

Many techniques exist for "optimizing" investments across marketing
channels. 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.



ForeTell® solution
Our ForeTell CompeteRx solution lets you model your drug, the market in which it competes, and your prospective marketing mix. It also lets you model competitors’ likely responses to perceived market changes. CompeteRx then simulates the results of your actions, competitors’ responses, and so on. You can also use CompeteRx to monitor and tune your strategies on an ongoing basis.

  • Project the impact of investment strategies in realistic adaptive market models
  • Capture your knowledge of competitor behaviors in a dynamic, actionable format
  • Track and tune execution results, driving continuous performance improvement

    Learn more...