Identifying Global Targets: An innovative approach to getting it right

Katherine Binns
Custom Research, Knowledge Networks, United States

INTRODUCTION

All too often, pharmaceutical marketers have a haphazard process for predicting targets. The result can be sub-optimal positioning strategies for new products and/or weak messages and other brand identity elements for in-line products. In an era of tighter regulatory approvals, shorter brand life cycles and fewer launch opportunities, it is critical for marketing, marketing research and other commercial functions to get it right the first time.

WHAT IS A TARGET AND HOW CONVERGING TRENDS IMPACT MARKETING STRATEGIES

In this paper we will define targeting as the process of identifying, prioritizing, and communicating a differentiated proposition that will “bend supply to the will of demand.” In other words, targeting identifies the groups that will shape and champion your brand story throughout its lifecycle.