Promotion Hierarchy Optimizer™
Pharmaceutical and biotech companies need to allocate their marketing budget across a range of possible programs. Programs might include:
• Advisory boards
• Compliance/persistence support
• Continuing medical education
• Detail aids
• Dinner meetings
• Direct to consumer advertising
• Journal ads
• Live symposiums
• Online marketing
• Social media
• Speakers bureaus
• Reimbursement support
The best budget allocation for one company for a particular product may be different than that for a different company or product. Companies need help determining the best allocation for each given situation. The best allocation might depend on the market’s characteristics, the product’s characteristics, the stakeholders being approached, and the company’s marketing objectives.
Company objectives might include:
• Generate a positive perception of the brand
• Generate a positive perception of the company
• Patient awareness
• Patient compliance
• Patient initial prescription fill
• Patient persistence
• Patient-initiated conversations with doctors
• Payer reimbursement
• Physician awareness
• Physician trial
• Physician usage
• Physician-initiated conversations with patients
• Prescription market share
Promotion Hierarchy Optimizer guides the marketing team through a process whereby they can make intelligent choices about their particular situation, develop a budget allocation based on those choices, and then defend those choices to others within the company. Promotion Hierarchy Optimizer is a Microsoft Excel-based model that has built-in Analytic Hierarchy Process abilities and is structured for these types of marketing budget allocation decisions.
The model will output the optimal budget allocation along with a consistency score and flags of elements where the group assessments were logically inconsistent. The results of this process will show how the marketing budget should best be allocated to meet the objectives of the company within the context of the environment in which the product is anticipated to compete.
Contact Objective Insights for a full functional demonstration version of Promotion Hierarchy Optimizer.
For more information about the Optimizer, please download the
Promotion Hierarchy Optimizer Overview (pdf).