Case Study: How to Sell an Older Drug Against Newer Popular Medications
Patient type & Medication:
Patient Age – 70 years, Female
Medication – Anti-hypertensive
Prescribed dosage – 2 times a day
Problem statement: How to position & Sell Older Drugs against against Newer versions which have additional cardiovascular benefits.
Of course, to market an older version of drug against Newer version of drug will be a tough task as doctors are more receptive to newer versions as they provide additional benefits of lesser number of dosage or easier administration routes etc. But sometimes, it is possible to Create value of Older drugs v/s Newer drugs which usually have higher costs as compared to older versions.
Thought Process: Create a patient type for the HCP (Health Care Practitioner) Visualization & then establish the “Exclusive Value” of Older version of Drug. Finally give a boost to the Exclusive Value with its Lower costs.
Here are few Options that can be used. You can also mention statements or any real life scenario that can be useful for this case in comment section.
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Take away: It is possible to sell an older drug against the newer Drugs, if the weaknesses of the new products can be explored, proper patient type is explained, Niche patient Population targeted & the Exclusive Value of drug attached to treatment outcomes can be established, older drugs with lower price tags can be sold easily. Remember Changing the Belief of HCPs will Change their Behaviour.
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