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Author of the book Strategic Market Management, David A Aaker sums up the appeal of an effective segmentation strategy: “The concept behind a successful segmentation strategy is that within a ...
Author of the book Strategic Market Management, David A Aaker sums up the appeal of an effective segmentation strategy: “The concept behind a successful segmentation strategy is that within a reduced market space, it is possible to create a dominant position that competitors will be unwilling or unable to attack successfully.”
Thus, successful pharma companies, which in future wish to avoid total commoditization of their offerings and resist competing entirely on price will aim to address the relevant market segments that will enable them to thrive.
Professor Smith predicts the emergence of 7 new pharma ‘species’ following more specialist business models, each adapted to a more specialized ‘sub-habitat’ in the pharma ecosystem. He summarizes the seven as:
1. Monster imitators – these are ultra-efficient operations and patent busters;
2. Genii – expert at spotting viable markets and developing new products;
3. Trust managers – specialize in brand management and branded proposition development;
4. Disease managers – develop and manage therapies and programmers around chronic disease more effectively
than the state;
5. Lifestyle managers – concentrate on preventative healthcare;
6. Value pickers – focus on specific clinical niche areas;
7. Health concierges –supply superior healthcare for minor conditions compared with the state.
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