A speciality pharmaceutical company was planning to launch a new product in a highly competitive anti-hair fall category. The category was dominated by a standard and accepted treatment regimen offered by bigger pharmaceutical companies.
What should be the launch strategy for this brand?
Should it attempt to disrupt the market by taking the existing well entrenched players head on and thereby risk being out spent by competitors? Or was there another way?
THE WHITESPACE DOSAGE
THE WHITESPACE PRESCRIPTION
We went back to the core of Marketing Strategy: Segmentation, Targeting and Positioning.
We segmented the consumer not only on the disease severity but other important demographic and psychographic variables.
After choosing the target segment, consumer and customer insights were taken to arrive at the communication plan.
The target patient journey was mapped and based on that the target, doctors of launch were selected. The Launch strategy comprising pre-launch, launch and post-launch strategy was designed and deployed which was based not on disruption but on market creation.
The new brand, as per the strategy, got to a slow start and built momentum as it moved. It emerged as the market leader within 18 months and was awarded the gold medal for new launch excellence by a prestigious industry association.
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