What Type of Brand Are You? - Pharmaceutical Executive

ADVERTISEMENT

What Type of Brand Are You?
Stop the aimless soul searching. The path to brand success lies in understanding how best to position your drug.


Pharmaceutical Executive


BE FLEXIBLE Don't be afraid to anticipate the need for repositioning. Staying the course with a position that circumstances have rendered ineffective is a guarantee of failure. Opportunistic Brands are highly prepared to change shape in a timely manner.

Franchise Brand [BRAND CATEGORY 4]

This brand is a product or service with applications to distinctly different audiences for a variety of uses.

Another team might point out that there's a bigger, more long-term opportunity for Karalyn: It is a "miracle drug," one of those rare entities that can solve a whole host of medical problems—gout, RA, MS, and psoriasis.

Other Franchise Brands, such as Rituxan (rituximab) and Virgin, have pinned their brand strategy on defining the product's broad scope, taking into account all audiences and applications beyond just the first.

Rituxan's first indication was for non-Hodgkin's lymphoma (a B-cell mediated disease). Even though it was quite successful, the brand team felt it wise to consider the long-term opportunity for future indications in RA, MS, and lupus—distinctly different therapies promoted to distinctly different audiences. Equity research studies demonstrate that a significant "halo" exists, which imbues the brand with greater optimism and excitement for all B-cell mediated conditions. Similarly, Richard Branson's legendary franchise brand, Virgin, owns the idea of "customer champion" (which they refer to internally as the Virgin spirit), and has managed to imbue this quality across a diverse range of products, from airlines to travel agencies to music, video, and mobile phones.

If Karalyn sees itself as a Franchise Brand, then it should:

BUILD OWNERSHIP OF A CENTRAL BRAND VALUE THAT UNITES INTEREST AMONG INITIAL AND FUTURE CUSTOMER TARGETS Invite all present and future customers to participate in branding research. Don't settle for a strategy that appeals only to your launch customers; reach out to embrace all.

BE A SOURCE OF INNOVATION Empower your audience by creating a bandwagon effect. Excitement and anticipation among future customers can be developed early by highlighting the success achieved with present indications.

TIE EQUITY TO A UNIVERSAL BENEFIT Focus your strategy on how it addresses a need common to all audiences—let messaging deal with individual applications.

ESTABLISH A SYNERGISTIC HIERARCHY OF VALUES Map out how individual-application values (which may be unique to a given situation) feed into and draw from the franchise values.

BE VIGILANT Never sacrifice franchise equity to the immediate appeal of tangential individual-application messages and tactics.

Turbo Brand [BRAND CATEGORY 5]

This brand finds its greatest purpose in how it enhances other brands or applications.

One final perspective comes from another team, which raises the issue that Karalyn is being studied as an add-on therapy in several indications, and is likely to be administered concomitantly with pain relievers for both gout and RA. Rather than be inwardly focused on its own attributes, Karalyn's brand team might be better off seizing the category of the Turbo Brand to demonstrate how the drug enhances the overall management of chronic conditions.

Brands such as Gemzar (gemcitabine) and NutraSweet are Turbo Brands because they have been most successful when used with other products. Gemzar, a chemotherapeutic agent indicated for pancreatic, breast, and non-small cell lung cancers, is an effective and well-tolerated therapy. However, it finds its best destiny as the key ingredient that makes an oncology drug cocktail stronger and better. More famously, NutraSweet is the unique enhancer for a variety of foods and drinks in pre-packaged form; but it also does its turbo magic if added in package form (Equal) as the customer desires.

If Karalyn sees itself as a Turbo Brand, then it should:

DEFINE A CONTEXT Demonstrate how it plays a vital role in enhancing existing applications. Teams should promote how a brand enhances an accepted regimen or show how it affects an existing treatment algorithm. The context should be the driving subject of messaging platforms.


ADVERTISEMENT

blog comments powered by Disqus
UPCOMING CONFERENCES

Serialization Summit
San Diego, CA
Feb. 27-28, 2014



Advances in Aseptic Processing
San Diego, CA
Mar. 10-12, 2014



ClinTech 2014
Cambridge, MA
Mar. 11-13 2014


Investigator-Initiated and
Sponsored Research (IISR)

Philadelphia, PA
Mar. 19-20 2014

See All Conferences >>

Source: Pharmaceutical Executive,
Click here