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» Product Planning
Successful
product strategies are a key to continued company growth
regardless of whether you’re an early stage firm or major market
leader. Often multiple products can be derived from a unique, fundamental
enabling technology. BioTrak facilitates the development of a successful product strategy by
considering multiple factors that will impact adoption from the
initial product launch to successful product line expansions. We consider factors such as: initial product configuration
(application, indication), meeting unmet needs, follow-on
applications or indications, practice patterns, reimbursement,
pharmacoeconomics, regulatory hurdles complimentary products,
supplies, competitive environment, timing, packaging, pricing,
positioning and promotion.
» Opportunity
Assessments
Independent market assessment provides the foundation for business
planning. BioTrak analyzes the complex factors impacting market dynamics and
provides concise segment assessment to meet the specific needs of
our clients. BioTrak combines primary and secondary research to determine market
potential based identification and verification of unmet needs,
product/application fit, available patient populations,
epidemiology, regulatory climate, competitive landscape,
reimbursement, market maturation and key customer drivers. In
addition to supporting business planning, market assessments and
rational forecasting are prerequisites to successful corporate
development and fund raising activities.
BioTrak
can define the key success factors for your product or business
area and develop strategic options for consideration. It's
about visualizing the future, understanding trends in the market,
and building competencies and competitive advantage. Through
the eyes of our senior consulting team, BioTrak provides a unique
perspective drawn from decades of industry experience.
» Pricing and Positioning
Optimal
pricing and positioning decisions for healthcare products come
from insightful consideration of the impact and weight of multiple
factors including but not limited to, competitive landscape,
currently available options (and cost relative to efficacy and
safety), reimbursement environment, willingness to pay, gatekeeper
attitudes, work-flow fit and pharmacoeconomics.
BioTrak provides early-stage qualitative pricing research
through one-on-one interviews or focus groups with physicians,
formulary decision makers, and patients if necessary to guide
decision making.
Other services include pharmacoeconomic evaluations, price
sensitivity studies and penetration modeling.
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