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Case Study 1: Leveraging a Market Development Project To Achieve Multiple GoalsCase Study 1: Leveraging a Market Development Project To Achieve Multiple Goals
Key Findings The opportunity. A development-stage company with a new diagnostic platform is invited to present its first data abstract at an important medical symposium. The company’s platform technology is unique. The company’s technology has the potential to diagnose a broader range of tumors than other diagnostic platforms.
Sandy Bodner
November 22, 2010
1 Min Read
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The objective. Introduce the company’s platform technology to C-level life science, pharma, and venture capital executives attending the meeting as a prelude to exploring cooperative partnerships.
The challenge. Their abstract will be overshadowed by better known companies presenting higher profile data.
How do these findings apply to our market development plan?
The strategic recommendation is to create an educational vehicle that can achieve three predefined goals. Supportive tactics and results are described in-tandem below:
1.Initiate a dialogue with medical professionals and industry experts.
Tactic: Ask prominent clinicians (unaffiliated with the company) to participate in an invitation-only panel discussion hosted by the company and moderated by an independent third party.
Result: A panelist—one of the foremost pathologists in the field—eventually became the primary investigator for the company’s first clinical study.
2.Deepen understanding of the test’s potential capabilities.
Tactic: Request panelists to review gaps in the continuum of care that current diagnostics are unable to address, determine where the prospective test might “fit,” and identify the benefits that it might provide.
Result: A white paper published by an independent third party clarified the unmet diagnostic needs in the field and later provided the basis for a peer-reviewed paper.
3.Attract coverage from the media attending the symposium.
Tactic: Invite selected industry executives, clinicians, pathologists, and news media to attend.
Result: Fifty executives attended the meeting, and multiple reports of the panel session appeared in industry-related news coverage.
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