- Sectors: Healing
Frontier Market Growth Strategy in the Pharmaceutical Market
A worldwide leader in pharmaceuticals with product portfolio of antibiotic, cardiovascular, and analgesic drugs, and vitamins.scroll down
The client wished to double the number of consumers reached in China by expanding sales into less-developed “frontier” cities, in an incremental, self-financing expansion strategy. Key questions existed around the product (brand vs generic, the level of technology), distribution (tiers, channel focus), and marketing (drug lists, reimbursement) which needed to be addressed.
Our team has examined the pharmaceutical market in sample frontier market cities and developed an understanding of representative market characteristics – market size and forecast for scoped drug categories, drug distribution, regulatory environment, hospital drug selection and stocking policies, reimbursement practices, and consumer trends. We have conducted extensive field work with doctors and pharmacists in Tier 2 and 3 hospitals, clinics, retail pharmacies, as well as distributors and regulatory bodies.
Our team developed a comparative picture of a benchmark frontier urban market and the success factors to play there. We delivered a preliminary strategy encompassing product, distribution, and marketing issues.
We have prioritized market entry and pricing strategy for each client’s products. The client used our findings in assessment of branding vs. generic considerations.