Quiz 2 compressed

Patient type & Medication:

Patient Age – 70 years, Female

Medication – Anti-hypertensive

Prescribed dosage – 2 times a day

Problem statement: How to position & Sell Older Drugs against against Newer versions which have additional cardiovascular benefits.

Of course, to market an older version of drug against Newer version of drug will be a tough task as doctors are more receptive to newer versions as they provide additional benefits of lesser number of dosage or easier administration routes etc. But sometimes, it is possible to Create value of Older drugs v/s Newer drugs which usually have higher costs as compared to older versions.

Thought Process: Create a patient type for the HCP (Health Care Practitioner) Visualization & then establish the “Exclusive Value” of Older version of Drug. Finally give a boost to the Exclusive Value with its Lower costs. 

Here are few Options that can be used. You can also mention statements or any real life scenario that can be useful for this case in comment section.

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1. Creating the Exclusive value

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Sometimes older versions have Exclusive values like Lesser side effects, exclusive receptors action for instance anti-hypertensive with action on both alpha-beta receptors etc. These exclusive values can be used to position the drug against newer drugs.

2. Cost

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Out of pocket expenditure is one of the aspect of health care delivery which consumes most of spending for treatment. Usually, the Older drugs are cheaper due to their generic versions availability or economy of scale production. The lower costs of drugs are of utmost importance to developing & underdeveloped countries.

3. Wider availability of Drug

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Usually the availability of drugs is better for older drugs as the supply & distribution network is well established. Due to this availability to patient is not an issue.

4. Target institutions & govt bodies

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Bulk Rate contracts with Institutions & Govt. Health care providing bodies can keep the Older product alive for many years.

5. Selecting the niche group:

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Focus the group of patients which may get benefited with the older medications & create the patient picture

Take away: It is possible to sell an older drug against the newer Drugs, if the weaknesses of the new products can be explored, proper patient type is explained, Niche patient Population targeted & the Exclusive Value of drug attached to treatment outcomes can be established, older drugs with lower price tags can be sold easily. Remember Changing the Belief of HCPs will Change their Behaviour.

 

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