NOVEMBER 20249TECH OUTLOOKA victorious launch takes timely planning and the right approach by a skilled marketing teamhow our drug can solve a problem, improve a condition, or enhance the quality of life for our customers, and crafting a clear and compelling message that resonates with our target audience while differentiating our drug from the competition are our key objectives.The third step would be designing a launch plan and budget. It is important to outline the objectives, activities, timelines, and resources for our launch and set realistic and measurable goals (KPIs) to track our progress and performance.Step four would be executing the launch plan and engaging the stakeholders. Implementing the launch activities according to our plan and coordinating with the internal and external stakeholders involved in the launch. Then make appropriate targeting and segmentation of our prescribers, influencers, and decision-makers who can drive the adoption and usage of our drug. Channel segmentation preferences per customer are also of most importance to reach our customers with their preferred channel. Various channels and tactics are used, such as sales reps, events, media, education, and digital platforms to reach and persuade our customers. Step five is to evaluate the launch results and adjust the strategy. We need to measure the outcomes and impacts of our launch and compare them with our KPIs. Based on analysis of the feedback and data from our customers, competitors, and regulators we will identify the strengths and weaknesses of our approach. Then we need to make necessary changes and improvements to the message, or approach based on the market response and demand. To ensure the long-term success of our drug, we must continue to monitor and optimize our launch performance.In comparison with Rx drugs that cannot be promoted to the public in the EU, OTC (over-the-counter) drugs are drugs that can be purchased without a prescription and promoted to the public. The launch process for OTC drugs involves all the steps as Rx drugs but the approach in promoting is reverse. With OTC first, we start our targeting, segmentation, and channel preferences with the public, pharmacies, and then KOLs while in Rx it is the opposite. Ultimately, it takes meticulous preparation and execution to introduce and market medications in cardiology, pulmonology, and over-the-counter (OTC) markets. There are various steps in the launch process, from market analysis to outcome evaluation. Promotion, which includes advertising through a variety of channels including medical reps, education, print and digital materials, email marketing, etc., is the most crucial step in this process after careful planning. Each of these marketing platforms must be tailored to the requirements of the consumer and integrated into an omnichannel strategy. Hrvoje Tomic,
< Page 8 | Page 10 >