A pharmaceutical company was facing challenges to maintain growth momentum of its branded generics due to increasing competition and lack of marketing capabilities. The company hired IKON to transform the company’s marketing strategy and capabilities with the expectations of achieving expected growth and improved brand reputation in the market.
Approach & Recommendations
Our team of pharmaceutical marketing consultants started with analyzing internal environment of the client that included analysis of brand portfolio, historical sales, current marketing strategies, sales force, and marketing capabilities. In addition, we conducted the market assessment study to identify the market potential of different therapeutic areas, create prescriber insights and understand the competitive environment.
The study pinpointed several marketing areas to be improved upon, predominantly corporate brand positioning, product packaging, promotional activities and sales team structure and its efficiency. Moreover, it gave few meaningful insights on competitor’s marketing activities and its strengths and weaknesses.
The IKON’s team then worked closely with the senior management to,
Apart from above, we helped the client in implementing recommended strategies by coaching, guiding and providing on time required creative and resources for promotional activities.
With the transformational marketing strategy and our team’s joint efforts for its implementation, the client successfully maintained the YOY growth of 40%. Moreover, the client realized improved brand reputation in the market and performance of the sales team.
Note: We are committed to clients' confidentiality. So their names have not been disclosed, but the results are real.