The global pricing strategy group of a major biotechnology business needed to support a company drive for growth in emerging markets.
They wanted to grow uptake and market share in lower socio-economic segments. They also wanted to test the feasibility of the intra-market tiered pricing approach we suggested.
We conducted research to define intra-country differential pricing. That included the description of all key components: channel management, legal and regulatory requirements, policy requirements, and the management of ethical and reputational risk.We then reviewed intra-market country pricing case studies to identify issues and challenges we might face. We used
We then reviewed intra-market country pricing case studies to identify issues and challenges we might face. We used socioeconomic, demographic, prevalence and incidence data to select the markets the client should target.
Finally, we developed a country profile for each markets in the intra-country tiered pricing strategy. We gave a brief overview of the healthcare system, the distribution channel, legal policy requirements of each market.
As a result of our support, the client has:
- Insight into an innovative pricing model, including the key risks, success factors and opportunities it might bring.
- A robust prioritization of products from their portfolio, and the target markets in which the model might best be applied.
- Well-structured decision support tools and communications material, enabling sound executive decision-making.