The Critical OTHER Question to Answer Brand Maximization
Pharmaceutical companies expend numerous resources in understanding the dynamics of their brands’ relationship in the marketplace. However, these companies devote a fraction of the human and financial resources to understanding fully the #1 resistance to their brand: the competition!
The efforts and focus given to a brand from a commercialization perspective and more specifically the marketing mix elements are certainly justified. However, consider the difference between the resourcing of a human, a project, and a financial perspective allocated to internal communication of the market versus understanding the external market pressures pressing inward. Is it even close? Is it even 90/10? Check your Outlook calendar and tally how much time was spent on
project load and budget allocation in past year.
Why is it important to begin re-evaluating the balance among the two and perhaps placing more emphasis on the external pressures?
Because despite all organizational activity to communicate, their brands value proposition via elements of the marketing mix the single greatest resistance to achieving goal is: THE COMPETITION.
The usual and first question in brand maximization should always be,
“How can we increase our brands reach to the appropriate patient?”
The next and almost equally important question to compliment the first question in order to identify y alternate solutions to question one is:
“Why does our competition have business?
By answering this question, an entirely new range of solutions emerge to increase your brands competitiveness and maximization. It’s the path less followed but the right path. The path traveled by successful disciplined organizations.