|
How to Spend Your Promotional Dollars … Wisely
Personal selling has come under increased scrutiny as the largest item in promotional budgets for pharmaceutical companies. As well, controversy endures regarding direct-to-consumer advertising and medical education. Other components of the professional marketing mix may appear to produce excellent marketing returns on the investment but have relatively low levels of actual revenue impact, such as journal advertising. Whether for maximizing the launch of a new product or optimizing promotion for a brand, evidence-based marketing is a critical issue.
What makes MattsonJack’s Promotional Response Modeling service stand out from our competitors is that we analyze your entire market environment. The reality is that your product does not exist in a vacuum and, in order to react to the dynamics of your competitive environment, you need to know how changes in your competitors’ promotional activities will affect you.
What types of questions can be answered through Promotional Response Modeling and MattsonJack’s state-of-the-art promotional simulators?
- How large of a sales force is necessary?
- How much promotional spending is required to achieve financial goals? Where would I cut $1 million?
- What is the best mix and timing of that spending by major class of marketing investment?
- How might the competition respond, and how could that be countered (war-gaming)?
- What should the investment be across brands across the company to improve the overall
return on sales and marketing?
MattsonJack will provide you with the following insights to facilitate your promotional spending decision-making:
- Detailed analysis of Market Dynamics for the complete competitive set.
- Econometric analysis of your product that considers the specifics of your market environment, which could include seasonality factors, product adoption rates, Rx model estimations, and competitive forecasting.
- An ROI simulator is provided to enable you to continue to proactively react to the ever-changing dynamics of your market.
- Decades of pharmaceutical marketing expertise gives you actionable recommendations for your budgetary requirements.
Download a Promotional Response Modeling fact sheet
For more information on our Promotional Response Modeling services, please phone 314.469.7600 or e-mail info@mattsonjack.com. |
