Pharmaceutical companies spend considerable sums on marketing to drive growth of their brands. Few, however, take enough time to thoroughly understand the strengths and weaknesses of their approach. As channels to market become more complex, and pricing and access challenges impede product uptake, excellent marketing is more important than ever for commercial success. Companies must therefore critically challenge their marketing plans and apply a level of rigour to brand reviews that is similar to that applied to R&D initiatives. In this Novasecta Note we explore why marketing matters, our perspective on the most important gaps in marketing practices and how companies can enhance brand reviews so that they build more successful brands.
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We have worked collaboratively with Novasecta over many years across a range of strategic topics. I have particularly valued how they really understand and care about our business, and how they manage to apply their deep industry insights to our context. This has brought my Management Team and Board to clarity and alignment on practical strategic moves at important moments in our evolution as a company.Kjetil Hestdal