Lack of vision in terms of medicine marketing has been diminishing the growth of antibiotic drugs manufacturers to a great extent.
There is no denying the fact that the major antibiotic drugs manufacturers are ramping up their production of drugs and are allocating enough resources in R&D for innovative medicines. However, the boost in antibiotic drugs production has not been enough to cater to the unmet and varying needs of many sections of the population across the globe. The climate of a region is known to exert considerable influence on the health of the residents, which, thereby, necessitates specific medical aid. In most cases, the pharmaceutical industry has failed to identify such specific requirement of medicines. Moreover, antibiotic drug manufacturers are facing stiff competition when it comes to meeting steep expectations of the healthcare payers who are tightening their purse strings in demand for more clinical and economical antibiotic drugs.
- The client: A leading antibiotic drugs manufacturer
- A well-known antibiotic drugs manufacturer approached Infiniti to conduct a robust market segmentation study of the pharmaceutical industry. The client required guidance in targeting specific customer groups and direct products in accordance to specific needs of the heterogenous demography. The antibiotic drugs manufacturer wanted a comprehensive analysis of the demands of various customer groups and develop a segmentation strategy to market the right product to the right group and gain an edge in the competitive pharmaceutical industry.
How Can Market Segmentation Study Help Antibiotic Drugs Manufacturers?[spacer height=”10px”]
A strategic market segmentation study will assist antibiotic drugs manufacturers in identifying the demands of the customer groups considering the current offerings of the competitors. It will help the client in analyzing the loopholes in the offerings and accordingly manufacture the products which will guarantee a complete customer satisfaction. A market segmentation study can also offer in-depth knowledge on the response of specific market segments, which will help antibiotic drugs manufacturers in devising specific marketing programmes and well-planned budgets.
Summary of Our Antibiotic Drugs Study
Client Journey[spacer height=”10px”]
Infiniti’s market analysis experts adopted a comprehensive qualitative and quantitative research methodology in obtaining meaningful insights into the pharmaceutical industry. Information was sourced from proprietary sources such as external industry data providers, company forums, and newsletters which helped the antibiotic drug manufacturers gain clarity on different customer segments and their demands.
Solution Benefits and Business Impact[spacer height=”10px”]
A comprehensive market segmentation study helped the antibiotic drugs manufacturer discover new ways to meet the unmet demands in the pharmaceutical industry and translate it into operational areas. The client was successful in identifying and separating customer groups based on their specific demands and economic value. The market segmentation study assisted the antibiotic drugs manufacturer to direct the products to specific customers and gain customer commitment. It helped the client in modeling their sale tactics according to the trends prevailing in the pharmaceuticals industry, which minimizes the risk associated with the product and ensure a steady profit generation.
The Future[spacer height=”10px”]
The growing and evolving population is paving the way for the radical growth of the pharmaceutical industry – if it is steered in the right way. Moreover, governments have been allocating a major part of their budget towards healthcare, which will increase incentives and funds for antibiotic drugs manufacturers to improve and improvise provision of better drugs.
A must-read case study for strategy specialists and decision makers looking to develop an understanding of the antibiotic drugs market