The “classic” concepts of Marketing are bygones.
Was Marketing considered an undertaking to prepare and assist sales bringing a product to market, nowadays Marketing has become increasingly the driving force for a company’s success.
Marketingis the process by which a product originates and is then priced, promoted and distributed to clients/users. The principal marketing functions precede the manufacture of the product, and involves market research, and product development, design and testing.
UPSTREAM MARKETING involves research and analyses that will determine whether a new product is needed and wanted, and whether a new market is ready, willing and able to accept and pay for that new product. It results in the Value Proposition and the Marketing Strategies.
• Needs Research
Uncovering the needs, wants and potentials of the targeted markets.
• Market & Competitive Intelligence
Understanding the target markets: who is doing what, where, when and how, and what the future holds in store.
• Market Analysis
Identifying and analyzing all stakeholders involved in the acceptance, use, purchase and payment of the product.
• Regulatory & Reimbursement Strategies
Designing and monitoring tests and clinical trials to satisfy the requirements for regulatory and reimbursement approvals.
• Proof of Market
Confirmation of the product’s market needs and the market potentials.
• Proof of Concept
Evidence of the product’s performance and benefits as claimed.
• SWOT Analysis
Evaluation of the company and product Strengths and Weaknesses, and the marketOpportunities and Threats.
• Value Proposition
Bundling all of the above into benefits for the patient, physician (user), provider (hospital), payer (insurer) and partners (owners, shareholders and strategic partners).
• Marketing Strategies
Establishing the Road Map how, where and when to bring the product to market, and what is needed to do so.
DOWNSTREAM MARKETING involves tools and methods to bring that new product to market, promote it, make sure it is used correctly, monitor its performance, and support users and the field force.
Once the company determines to bring the product to market, Marketing moves into gear to complete the Business Plan and prepare the Company for the launch of the product.
It will develop the means and resources needed to realize a successful market introduction, to support and grow the market, to monitor product performance and market response, and to keep “the finger on the pulse”.
DOWNSTREAM MARKETING is grouped into three distinct segments:
1. Pre-Launch Marketing
- Applications (Uses)
- Target Countries
- Target Users
- Product Positioning
- Pricing Strategies
- Tactical Sales Plan
- Distribution Network
- Field Force Training
- MarCom Materials
2. Marketing at Launch
- Product Awareness & Promotion
- Websites, Blogs & Forums
- Demonstrations, Road Shows & Workshops
- Medical Conferences & Exhibitions
- Customer Training
- Press & Public Relations
- Sales Support
- Customer Relations Management
3. Market Support & Monitoring
- After Sales Service
- Analysis Customer Acceptance & Satisfaction
- Assessment New Needs & Product Improvements
- Conversion of Non-Users to Users
- Continual SWOT Analyses
- Business Plan Updates
- Upstream Marketing for the Next New Product
We have extensive experience in compiling, writing and refining Business Plans, including PowerPoint, KeyNote or Acrobat presentations focused on a variety of audiences, such as investors, strategic partners, and candidate companies or organizations interested in a technology transfer, merger or acquisition.
Traditional due diligence relies on the financial and legal aspects of a company.
To decide on an investment, merger, acquisition or technology transfer, financials alone do not offer a full insight of a company, its technology and products, let alone the market needs, wants, response and potentials of those products.
Marketing Due Diligence unravels the company’s and products’ true strengths, weaknesses, opportunities and threats.
Our Marketing Due Diligence Modus Operandi
We immerse ourselves in the targeted company by working on the inside, which can take a few weeks to several months.
We interview and evaluate the Management Team and key personnel.
We partake in meetings and training sessions.
We work with the field force, observing product demonstrations, training sessions, installations, service and maintenance calls.
We visit exhibitions and conferences where the company is present.
We research local professional journals and the media.
We interview key opinion leaders, clients, users and providers to assess the competence, services and reputation of the company in question.
Investigation of new technologies and concepts.
We evaluate whether a new technology or product..
- will fit your objectives,
- will serve a specific market need,
- will comply with your current market focus,
- has unique features with an ironclad Intellectual Property,
- will offer advantages over products or treatment procedures presently used,
- can potentially provide clinical and/or cost benefits,
- can possibly meet the requirements for regulatory and reimbursement approvals.