From Vision to Reality: When Pharma and MedTech Brand Plan Performance Go South

Part 1: Strategic missteps

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Welcome to the wild world of pharmaceutical and MedTech brand planning, where a meticulously crafted strategy can sometimes feel like a carefully built sandcastle—beautiful until the tide rolls in. 

You’ve spent countless hours perfecting your brand plan, armed with data, insights, and a vision so clear it could cut glass. Yet, as the launch day dawns, you find yourself watching your brand underperform like a rock star who forgot the lyrics mid-concert. What happened? Was it the market? The strategy? The execution? Or perhaps the universe just decided to throw a curveball? 

In this article, we’ll delve into the unexpected twists and turns that can derail even the most promising pharma brands from strategic misstep stand point with the promise to cover the operational and execution bit in other article. Buckle up; it’s going to be a bumpy ride!

Poor Product Differentiation

In an industry crowded with options, standing out is essential. If your product lacks clear differentiation or fails to communicate its unique value proposition effectively, it risks being noticed let alone used.

Meticulous thinking about the differentiators from clinical, economic, product configuration, and services fronts should be conducted 3-5 years prior launch to win the first impression vs. competition when launching, followed by a Proper 5-7 years life cycle management plan to ensure the brand relevance for the long run. Aim to having your differentiators added to the label ( that's every marketers' dream), then communicate your value prop effectively through a compelling brand story and content. 

LCM is a cross functional marathon of 20 + years sometimes, think it through with program, medical and market access teams, and execute it together boldly. 

Inflexible Planning

A Pharma or MedTech brand plan should be more than just a static document; it should be a living guide that adapts to new information and changing market conditions. 

Treating it as set in stone can lead to missed opportunities and stagnation. If you misread or didn’t read customer new needs or updated competitive dynamics, your brand might find itself lost in the shuffle.

Continuous market insights feed is crucial (primary, secondary, direct from the customers etc); plus, scenario planning with possibility vs. magnitude scoring is much needed; otherwise, you risk having a product that nobody really wants anymore.

Pricing Issues

Setting the right price is like walking a tightrope. Price too high, and you’re seen as out of reach; too low, and you risk undervaluing your product. A poorly positioned price can turn potential customers away faster than a bad review on social media.

Deep cost-effectiveness analysis coupled with proper pricing research should be conducted before launch, then monitor to the customers’ piggy bank carefully, you don't want the customers hands to keep being tucked in their pockets when they meet your brand. 

Rigid pricing, lack of value for money sort of data are no go zone while brand planning. engage early with payers, understand their pain points and data they need so to plan accordingly. 

Underestimating Brand/ disease Awareness Needs

Sometimes, even if a Pharma or MedTech brand plan is strong, it might lack sufficient emphasis on brand or disease awareness, particularly for new treatments. Building trust and credibility among HCPs and patients can require significant time, especially for new therapies but it’s rewarding, I promise.

Allocate good budget and FTEs for market development, educate customers and patients (where complaint)on the burden of disease, the economic, clinical and societal consequences of ignoring or de-prioritising a treatment or prevention. Pushing the brand up the HCPs, healthcare systems, payer, and buyers’ priority ladder through market development is crucial. Market share always needs attention share first! Fight for it.

Overestimating the Market Potential

It’s easy to get carried away with optimistic forecasts based on unrealistic assumptions about patient numbers or prescribing patterns ( with lower voice: or due to leadership pressure for higher numbers..  Shhh). When reality hits, brands can find themselves underperforming against inflated expectations.

Be realistic, listen to what your demand study and customer’s ATUs have to say. Listen to local markets feedback, they talk directly to HCPs, buyers and payers. It’s ok to be optimistic, have a big fat section in your brand plan for upsides and downsides, but they are scenarios, the base forecast is the best estimate of reality. Feet on ground please.

Ready to pull your Pharma or MedTech brand out of its performance nosedive? Time to don your detective hat. It's investigation time! Dive deep into market and customers insights, and remember, flexibility is your new best friend.

In this world of Pharma brand planning, having a brilliant brand/ idea is just the appetiser; the main course is navigating challenges with agility and insight, so lace up those running shoes—your brand’s marathon to success has just begun.

Fouad Akkad

Principal Consultant- Pharma Brand plan

WePhlan