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INTRODUCTION; WHO SHOULD READ
For roughly three decades now, one of the key drivers of the US economy has been the biotech/pharmaceutical industry (we’ll call it “biopharma” in the remainder of this paper), by virtually any measure ...including jobs and market capitalization created, patents granted, therapies introduced or improved. And given that the segment continues to be one of the top two attractors of venture capital, there’s no reason to expect a change in this scenario anytime soon; despite the dramatic progress already made, there are still numerous diseases to cure, or at least manage with improved quality of life. In the outsider’s view, biopharma marketers have an easy time of it: they simply announce that their new drug or device has gained FDA approval, and their captive channel of physicians and surgeons – who are of course always on the lookout for new therapies – immediately beats a path to their door. In this model, the ultimate consumer – i.e., the patient – was all but irrelevant to the process. Real-world biopharma marketers, of course, know that this model no longer applies – if indeed it ever did – and that anyone operating in that fashion would end up literally leaving millions of potential revenue and profit dollars on the table, which inevitably translates to reduced funding for research and development of future therapies. They see their world as a multi-channel universe with a tremendous amount of clutter that must be cut through ...and it is to them that this paper is addressed ... Download PDF >> Read HTML Version >> |