This paper describes the development of using Medilink's General Practitioner panel to track attitudes and prescribing intentions over time and using the data derived as a basis for forecasting new product performance. Medilink's 'on-line', interactive, self-completion market research panel of GPs was set up as a national panel in early 1984. The issue of the Government's Limited List proposals provided a platform to demonstrate the value of the Medilink panel in terms of a large sample providing users with 'fast-feedback' of results on a regular survey basis - an ideal research vehicle to track changing attitudes. The first six months of a new product's life is critical in determining its future success - fast feedback is vital for the ethical pharmaceutical manufacturer. For this paper a new product launch was tracked on AGB Medilink. This launch was one of the first major new products to be monitored on a monthly basis by Medilink, for this paper we have examined, and compared the results to IMS, the results of a years Medilink data. Particular attention was paid to aware prescribers and non-prescribers future prescribing intention and their subsequent prescribing behaviour. A relationship was found and a means of forecasting future performance examined. Today's new product monitoring on Medilink includes, as well as products, selected patient data thus providing the essential ingredients for any model to be used to forecast future new product performance.
The objective of this paper is to explain the use of micro- simulation models in different types of marketing problems. When and how should they be used, what are the practical requirements of such surveys and what sort of solutions to marketing problems can be expected from this methodology.
This paper presents a quantitative marketing research survey through the use of multivariate techniques to address several pre-launch issues of a new product. The main emphasis in the analysis is the use of the conjoint model to determine the actual market share potential of a new product against a defined market. The survey addressed other marketing issues such as product awareness, usage, psychographic segmentation, promotional emphasis, pricing and positioning. After identifying each potential market segment, the use of the conjoint model produced a market estimate that was significantly accurate to the actual market share 12 months after launch.
Characterisation of the structure of the pharmacy distribution channel of the Italian drug market by means of a large sample (672 different preparations of 497 pharmaceuticals produced by 135 Italian and foreign drug companies). The sample, witch consists of the products enjoying the largest market, represents 56% of the total number of sales and 62% of the total value of the market. Composition of the market and sales distribution in terms of numerical classes (i.e. number of preparations sold per annum) and retail price classes. The analysis brings out very clearly not only the market predominance of drugs in the low and medium-price range, but also the inverse relationship between price and quantity (quantities sold diminish as the price increases, and vice versa). Reconstruction (by means of computer simulation) of the costs that the price formation method recognizes for each preparation. Discussion of the distortions in the theoretical cost structure: the method overvalues some of the costs of low-priced products and, vice versa, tends to underestimate the costs associated with products in the medium and high price range. Analysis (on the assumption of constant quantities sold) of the market changes induced by the 1984 price revision: the structure of the price formation method generates retail price increases mainly among low-priced products.
Evolution of the regulations governing price control and formation for medicinal specialties in Italy during the last 60 years and further outlook in the medium term. Detailed reconstruction of the statistic-mathematical price calculation method used during the period 1977-1984. Recent modifications of the method: increased incidence of research costs, incentivation parameter, fixed raw material costs, initial production cost, modifications in the formula for calculating the incidence of medico-scientific information. Considerations regarding the structure of the method (illustrated by means of numerical examples): rigidity of the mathematical structure, inadequacy of the pharmaceutical form and labour time parameters in the assessment of transformation costs, lack of market reference, and attribution of average unit costs far removed from industrial reality. Proposals for the medium and long term: simplification of the price calculation method or passage from government-controlled prices to a price-monitoring system.
As a result socioeconomic differentiation may represent additionally to the drug's therapeutic merit-proof a decisive component to achieve a sustainable competitive edge. It represents a strategic element which pharmaceutical companies will have to envisage. Cost savings of a drug as well as the advantages in terms of patients' quality of life are becoming more important. The success of socioeconomic evidence development depends largely on the application of adequate standards and the selection of the right tools. The formal tools are Cost-Benefit/Effectiveness and Quality of Life studies. The evidence development has to be started very early in the product development process. In today's environment a reasonable remuneration for a new product will depend on the ability to substantiate the socioeconomic advantages, in order to assure the continuity of the therapeutic innovation process.
In this presentation we would like to present a survey of recent developments in the drugs market in the Netherlands. We will base ourselves on publications in newspapers and trade magazines and on information published by public bodies in so far as they concern general trends. We will also use two studies of our own. In the first we plotted attitudes of prescribers and suppliers towards drugs and medications, while the second study was concerned with the ideas of 'opinion leaders' regarding the relationship between brandnames and drugs without a specific brand, the so-called 'generics'. This last element will come up several times during this presentation. This also accounts for the fact that we will be dealing mainly with prescription drugs. The 'over the counter' medications, i.e. those available through pharmacists and chemists, will only be dealt with in passing.
Pricing research should help companies to calculate the optimum price for each of their products, in order for companies to achieve their basic goal: Profitability. Pricing research however often fails to do this. Indeed, despite the large number of price-testing techniques available, currently popular techniques do not provide valid answers to questions which are of interest to marketing departments. This is especially TRUE of the pharmaceutical industry. Furthermore, researchers tend to carry out pricing research on the premise of wrong assumptions regarding the targeted market. Consequently the quality and validity of the results obtained are often questionable, therefore potentially damaging to the company, especially in the pharmaceutical field where profit margins are all too often restricted by uncontrollable factors.
The purpose of this paper is to outline the considerations that should be taken into account when choosing the optimum price for a new product in the United Kingdom. The paper will cover three broad areas. Firstly the determination of a target price or range of prices for investigation. Then the determination of price sensitivity in this target area for the new product in its specific therapeutic area. Finally the implications of the price sensitivity analysis will be discussed.
This paper outlines the method and some of the main findings of a research study conducted amongst 102 General Practitioners in the UK in August 1986. The aim of the study was to establish the extent of GPs' awareness of the prices of products currently used for the treatment of asthma, and to gain some measure of the value they would place on a new product, not yet available. Because the product concerned has not yet been launched, neither the product nor its manufacturer can be revealed, but we would like to thank the manufacturer for allowing the data to be used as a basis for this paper.
In this paper, several case examples, including several new self-diagnosed test products are presented. Detailed description of the pre-test market procedure, including the use of either printed concept material or TV commercial with product trial use experience at home is given. In addition, estimating procedure of sales volume and other sales components, such as penetration, purchase units and sizes, repurchase rate and repurchase cycle if applicable, is included. Summary of validation record (comparison of forecast vs. actual in-market sales) will be included.