The power of patient engagement in pharmaceutical product launch
Optimize pharmaceutical product launches with a patient-centric approach.
Philips, a leading healthcare technology company, sought to innovate its diagnostic x-ray (DXR) systems to keep pace with the evolving needs of hospitals and radiology professionals. With new DXR systems in development, Philips faced the challenge of differentiating its offerings in an increasingly saturated and commoditized market. For long-term business success, Philips needed to decide how to structure its current portfolio and future developments to cater to the needs of target audience segments.
“SKIM’s consultative approach and willingness to think alongside us were very much appreciated. They challenged us by asking the right questions, ensuring we were getting what we wanted out of the study.”
– Arjen Wyczisk | Senior Manager Business analytics MR/DXR | Philips
This portfolio decision was complex due to the significant R&D investments and multi-year development cycles. Philips had initial ideas about which features appealed to the different customer segments, however this decision required validation to justify the significant investments being made. Additionally, a saturated and increasingly commoditized DXR market presents challenges for innovation, making it difficult to maintain a unique portfolio without risking cannibalization of existing customer bases.
To navigate this complex landscape and ensure success, Philips partnered with SKIM to leverage their expertise in advanced research methodologies. Right from the start, SKIM challenged Philips to clearly define the project’s ultimate goals:
By evaluating and refining Philips’ research objectives and questions, it was possible to ensure the study was set up to deliver actionable insights.
The team chose a choice-based conjoint analysis to uncover the underlying drivers of customer choices, moving beyond simple preferences. A critical step in setting up a successful conjoint experiment is the co-creation of a realistic set of features to reflect the trade-offs DXR customers make in their purchase decisions. SKIM and Philips collaborated closely to ensure representative and well-balanced choice scenarios.
The project provided a nuanced understanding of the DXR market, allowing for informed decision-making on product development, pricing, and positioning that would ultimately lead to a differentiated product portfolio and meet the unique needs of the diverse customer base.
The research findings were instrumental in guiding Philips’ mid to long-term innovation strategy. The project provided Philips with a clear direction and greater confidence in terms of:
The collaboration with SKIM delivered both immediate and long-term value for Philips. The research findings not only supported the current development activities for the new DXR portfolio, but also provided a framework for future innovation initiatives further down the line.
Philips has leveraged the insights from the study to:
Additionally, the study has proven to be a valuable resource within Philips, with findings being used to support other projects and shape approaches in areas like AI. This highlights the enduring impact of the research and its ability to drive strategic decision-making across the organization.
“The insights from the market study have been invaluable. They’ve not only guided our product development decisions but also helped us justify investments and shape our approach in other areas like AI.”
– Yair Kerkmeester | Product Manager DXR | Philips
The partnership between SKIM and Philips showcases the power of collaborative, data-driven decision-making in a complex market. By leveraging SKIM’s expertise and research methodologies, Philips was able to confidently validate the innovation roadmap, optimize its product portfolio, and invest in solutions that will truly meet the needs of healthcare professionals.
This success story demonstrates the power of a data-driven, collaborative approach to product innovation and offers valuable lessons for brands navigating complex market landscapes. If you’re seeking to deliver products that truly resonate with your customers, here are three takeaways that will guide your success:
Ready to unlock the power of data-driven decision-making for your product innovation? Schedule a consultation with a SKIM expert today and discover how we can help you navigate complex market landscapes and drive meaningful business results.