Blog articles about Consumer Health
The context for decision-making in the healthcare industry has been thoroughly disrupted – from patients navigating the world of telehealth to HCP’s increased reliance on online channels for knowledge gathering.
Despite this rapidly evolving environment, your mission as a pharma marketeer, continues: to enable value creation and product differentiation and empower both physicians and patients for improved outcomes. However, to do so effectively today, you need to understand how patient journeys are changing, and what new needs have emerged. Only by understanding the nuances of these shifts, will you be able to effectively adapt your marketing, communications and/or innovation strategies for greater impact now and in the long term.
People are poor predictors of their own behavior. Context changes corrupt their intentions. A context change may be as simple as a product discount, or as complex as a severe crisis. In both situations, the question is whether behavior changes, and particularly whether it will subsequently stick. We argue that, after the current crisis only a few new routines will establish. Trend lines from before a crisis will be similar after the crisis, maybe somewhat mitigated or accelerated.
Here we reflect on past crises and share 3 pitfalls consumer brands should avoid in preparing for the recession.
The COVID-19 crisis and the Corona crash are shaking the context for consumer decision behavior. As a result, the context for net revenue management (NRM) has also been disturbed for consumer goods companies.
Companies must adapt revenue strategies to the new situation, at the same time as consumers are adapting to “the new normal.” To be successful, you need to anticipate and influence consumer decisions in a changing environment. This holds true in times of normalcy, but especially during the recession to come.
Although the COVID-19 crisis is not yet over, learnings from previous crises and knowledge of consumer behavioral frameworks mean we can map out consequences for net revenue management strategies.
So, what should you consider in planning your next moves?
Consumer behavior is usually embedded in daily habits; sometimes consumers make more deliberate decisions. COVID-19 triggered a dramatic change in the context of consumer decision making: Many daily habits have come to an abrupt halt; more decisions are now deliberate.
Your company is probably feeling the immediate impact of these behavioral shifts and you may be charged with adapting short-term marketing strategies accordingly.
Exploring voice analytics in new product development research with Johnson & Johnson
Have you ever conducted early-stage innovation research and found yourself in a situation where you don’t entirely trust what consumer feedback is telling you? Many of us have had to deal with overstated interest and the need to dig deeper into unmet needs.
Uncovering both rational and emotional needs is vital for new product development (NPD) strategies – to accurately size the unmet need or opportunity for innovations. However, what is the best insights approach?
In light of increasing patent expiration rates, a switch from Rx to OTC proves to be a successful counter-strategy against generic erosion. As a result, marketers face challenges entering a new competitive environment. Our Consumer Health team has valuable experience in bridging the knowledge gap between healthcare and consumer markets to facilitate your decision making process.