Examining the interplay between researchers, clinicians, and medical students in Academia with the Federal Market is important in determining the overall value proposition of the segment. What’s more – the considerations and complexities can vary widely by disease state. Examples include brand exposure when establishing a standard of care in a disease state with medical students. Or, analyzing the potential or actual product utilization patterns in conjunction with key market influencers to develop a strategy that efficiently employs pharmaceutical manufacturer resources.
A market diffusion analysis is appropriate regardless of a product’s launch stage. Prior to product launch, diffusion analysis identifies the best opportunities to reach early adopters, as well as increase the likelihood of quicker market penetration. In a post-launch scenario, diffusion analysis highlights local or regional utilization differences in order to identify opportunities for adjustments to an existing strategy or to illustrate the need to pivot to an entirely new approach.
More than just an exercise in measuring the distance between an academic location and the closest Federal hospital or clinic in comparison to product utilization, a market diffusion analysis process begins with the collection of quantitative and qualitative data gathered from a variety of sources. It then seeks to qualify the overlay between the quantitative data and the qualitative data, ultimately revealing the network of connections between individuals in these two markets and the influence of clinicians and/or researchers who straddle both markets on product utilization. Ultimately, the process provides a comprehensive understanding of the interplay between the two otherwise separate and independent markets. This analysis results in a tangible, narrowed list of potential leads for a pharmaceutical manufacture to focus and tailor outreach for the greatest return-on-investment in the Federal segment.
The Federal Market strives to provide the best, most innovative research-based solutions to fulfill the unique needs of its patient population. Academia is generally the source for the latest and greatest in novel treatment for complex disease. Association with this arena via the close proximity of Federal stakeholders is just one of many indirect reasons for manufacturers to bolster investment in this segment. Given the potential for influence crossover, the pharmaceutical industry must rethink the nuances and benefits of a market diffusion analysis.
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