Can Promotion and Partnership Coexist?

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Can Promotion and Partnership Coexist?

  1. 1. Can Promotion and Partnership Co-exist? Marketing, advertising, selling and the customer January 31st 2014 Jonathan Dancer Managing Director, Redbow Consulting Group
  2. 2. Can Promotion and Partnership Co-exist?
  3. 3. Can promotion and partnership co-exist? Promotion and Partnership? Promotional Returns How Marketing Fits in Perceptions of Value Can Promotion and Partnership Co-exist?
  4. 4. Potential benefits of partnership Improved concordance and persistence Patient education and lifestyle applications Support for treatment initiation Outcomes measurement Building consensus Service design Medical education An increasing proportion of Pharma “promotional expenditure” is directed towards supporting more partnership-oriented activity
  5. 5. Potential barriers to partnership Perception Stereotype Memory Practicality
  6. 6. Partnership When a match has equal partners then I fear not. Aeschylus The poor man who enters into a partnership with one who is rich makes a risky venture. Plautus
  7. 7. Promotion Activity that supports or encourages a cause, venture, or aim The publicizing of a product, organization, or venture so as to increase sales or public awareness Oxford Dictionaries
  8. 8. Without promotion things cannot be known… “Our study concludes that this is the percentage of our customers who will buy from us without any effort whatsoever on our part.” © Tedd Goff 1999
  9. 9. and promotion does need to be appropriate Cartoonchurch.com
  10. 10. … but not gratuitous
  11. 11. Promotion – what do recipients say? With thanks to Ivor Eisenstadt, Managing Director, MGP With grateful acknowedgement to Hilary Burt, Chair JICMARS
  12. 12. Promotion – what do recipients say? Online is seen as convenient for quick searches, but print is still highly valued
  13. 13. Promotion – what do recipients say? Online & digital both used across the spectrum of information needs, greatest credibility is from independent sources
  14. 14. The promotional “leaky bucket” Attribute A Awareness I Interest D Desire A Adoption/Action Proportion
  15. 15. Predictability of returns on promotion Sales What we’re “taught” Optimal Investment Promotional Investment
  16. 16. Sales Predictability of returns on promotion Promotional Investment
  17. 17. Predictability of returns on promotion Illustrative Sales What the Data show Promotional Investment
  18. 18. Predictability of returns on promotion Illustrative Sales “Expected Model” Promotional Investment
  19. 19. Predictability of returns on promotion Illustrative Sales High Sales with little investment Promotional Investment
  20. 20. Predictability of returns on promotion Illustrative Sales High investment with little sales Promotional Investment
  21. 21. Predictability of returns on promotion Sales A spectrum of response Promotional Investment
  22. 22. Predictability of returns on promotion Type and Level of Promotion Extent of Unmet Need Familiarity of Technology Ease of Market Access Thanks to Gary Johnson, Inpharmation
  23. 23. How marketing fits in – traditional view Marketing is the management process responsible for identifying, anticipating and satisfying customer requirements profitably CIM
  24. 24. How marketing fits in – alternative view “A social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with each other.” Philip Kotler 2002 True Marketing is Always Value Based
  25. 25. How marketing fits in Value does not exist until it is perceived by the customer Perceived Value influences the price the customer is willing to pay A Customer cannot perceive value until they “experience” the product Adoption involves establishing relevance to their own life/role
  26. 26. “Dinner for three”
  27. 27. “Dinner for three” Today, the “Dinner for Three” food order is (in principle) increasingly aligned : a). The “family budget” b). The specified requirement c). The needs of the recipient
  28. 28. “Dinner for three” Pharma needs to communicate effectively and appropriately with all three parties. Advocacy, Recommendation, Prescription Guidance, Guidelines and Market Access Informed Patient Marketing and Market Access are increasingly convergent
  29. 29. Value Value does not exist until it is perceived by the customer Perceived Value influences the price the customer is willing to pay A Customer cannot perceive value until they “experience” the product Experience involves establishing relevance to their daily lives
  30. 30. Value
  31. 31. Value Abay “Colors” Age: 2 Displayed: NJ online Children’s Art Gallery
  32. 32. Value
  33. 33. Value Patti the chimpanzee, age 29 Untitled Acknowledgement: Chimps Inc.
  34. 34. Value
  35. 35. Value Franz Kline, Untitled Year: 1957 Price : ?$40,402,500 – Nov 14th 2012 The Franz Kline Estate
  36. 36. Value
  37. 37. Value and Affordability
  38. 38. Fitness for Purpose What kind of challenge does this disease present? What will it take to get the outcome needed?
  39. 39. Can Promotion and Partnership Co-exist? Promotion Trust Creation & Exchange of Value Relationship Partnership Value is the universal currency that enables them to do so
  40. 40. Acknowledgements Ivor Eisenstadt, Managing Director, MGP Hilary Burt, Chair JICMARS Gary Johnson, Inpharmation The Franz Kline Estate Sothebys Online NJ online Children’s Art Gallery Chimpsinc PetKare Clinic Hubspot Ted Goff www.carpages.co.ukwww.bobamotoring.de http://www.hdwallpapers.in http://www.imaginelifestyles.com/ www.carsuk.net www.azureazure.com www.cartoonchurch.net
  41. 41. Can Promotion and Partnership Co-exist? Marketing, advertising, selling and the customer January 31st 2014 Jonathan Dancer Managing Director, Redbow Consulting Group

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