Modelling Market Dynamics
Our client was a medium-size life sciences company. It wanted to help more patients with a drug that has several benefits over other drugs in this area. Although the drug had been on the market a few years, pick-up by healthcare providers was lower than expected.
The challenge was to build a relationship with the Key Opinion Leaders and get on top of the latest research.
Understanding Market Dynamics
Life sciences commercial teams have to make strategic choices on the relationships they build. And put more time and effort into understanding new market dynamics. It’s no longer enough to visit healthcare providers to convince them to choose your treatment.
Problems to be Solved:
- Identifying the Key Opinion Leaders
- Understanding the dynamics, relationships and networks in the field
- Knowing the status of other drugs, USP of own drug, and latest research
- Understanding patient associations
- Conform to all privacy regulations, such as GDPR
In four weeks we built a model to identify all the Key Opinion Leaders and mapped their networks. We also dived into the research in this field and provided a clear overview of the latest developments and projects.
- A Key Opinion Leader (KOL) database consisting of data of research, clinical trials, medical events and other sources.
- Network maps of the KOLs showing all the relations between the KOLs and healthcare providers.
- Detailed documentation of the latest related research and projects with a clear interpretation of its relevance for the client.
- We made a thorough data impact assessment with the client and their GDPR lawyers to make the analysis fully GDPR-proof.
Impact and Benefits for our Client
The client was able to get a head start: our model and documentation saved the account manager around one year of research to understand the market before he could start building his network and relationships. This brought our client closer to their goal: helping more patients in need with a drug that is much more user-friendly and has better impact on their lives.
Way of Working
- Kick-off and interim analysis meeting
- End report and presentation
- Agile approach, working in sprints to set priorities and manage expectations
- Project delivered in 4 weeks, on time and on budget