Reaching Your PotentialMarket Access
Most of the time, marketing and sales become an afterthought during the product development lifecycle. In today’s figures, roughly less than 18% of all life science innovation projects will make it to the market domestically and less than 12% internationally. As your launch window should be considered at least 18 months+ before the actual target date, validation of market criteria is essential prior to focus on the marketing activities. As time ticks away for your launch window, Rubix analyzes and configures your launch trajectory so that your product innovation is robust and hyper targets a population for impact.
Patients need your product. Reach them.
In the new age of consumer education, market access has to be more than just developing a marketing plan. The ability to hone in on consumer sentiment requires a detailed data-centric approach that will raise the confidence in the ability to get your products to the people that matter the most.
You have an idea on the market potential of your product, but do you know how they’re buying it? Poise your marketing development strategy for the specific pathways in which you can maximize company and product exposure.
Nearly two-thirds of new drugs fail to meet prelaunch sales expectations during their first year on the market. Many of those that fall short typically continue to underdeliver for the next two years and are unable to recoup lost sales. We engage your key stakeholders from the very beginning to craft a market access strategy that is tailored towards patients needs while also providing a return on investment.
There’s a high demand for your innovation, yet you may not understand how to translate that opportunity into growth in the new areas you want to access
Post Market Feedback
One of the most vital areas of marketing is consumer sentiment. Listening to how well or poorly your product is performing in the market can impact perception. It is one of the facets of the process that we will build a robust tool to capture feedback and work cross-functionally internally to develop another approach.
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Biotech companies ability to control costs can also lead to clinical trial failure. The current results of the Tufts Center for the Study of Drug Development assessment indicate $2.6bn as the average cost of reaching marketing approval. Attempts to control costs include developing biomarkers and improving both project management and the aforementioned patient recruitment and retention. Each failed trial costs not only time and energy but the investor’s belief in a company’s ability to perform.