Market Scope
Study
Category: Market Scope Study.
Objectives: To understand the level of acceptance of the new molecule, its perceived benefits and adverse effects and future.
Methodology: Face-to-face interviews.
Industry: Pharmaceutical.
Target group: Trade practicing and hospital based doctors.
The client has a brand in anti-hypertensive category which just have 1% market share of the total anti-hypertensive products.
The Challenges Were…
The client wanted to understand prescription level of the study molecule from the target respondents. What is the doctor’s perspective in prescribing this molecule and whom do they prescribe (profile of patients). They also wanted to compare the new molecule with other most prescribed similar molecules.
Outcome…
o Poor acceptance of the new molecule from the target respondents, other molecules of the similar nature were more preferred by the target respondents.
o Type of disease for which molecule is preferred more was identified. The reason for low share was lack of promotion with insufficient clinical data. The availability of the product was also a concern. It also had a perception as being an expensive drug and hence not used freely.
o Positioning of the new molecule compared to current molecule present in the market was also developed.
o Suggested the client not to focus on developing this new molecule further as the other molecules have already captured the customer’s mind space and there is no sufficient supportive inputs are available to challenge the competitor molecules.