Business Challenge
An Asian pharmaceutical company was interested in assessing the direct and indirect pre-launch marketing expenses, for prescriptions drugs, of its competitors in the US to streamline its own expenditure.
Situation
The client was unable to implement its ambitious new prescription drug launch plan within its budget and wanted to assess its competitors’ pre-launch marketing expenditure to optimize its own expenses and cut down the spending on unnecessary marketing programs.
Approach
We conducted an in-depth competitive assessment including 25+ interviews to determine the pre-launch marketing expenditure strategies of the company’s competitors and benchmarked the company’s spend data against that of its competitors to provide inputs on cost-cutting strategies.
Impact
The client was able to plan its spend strategy, eliminate its non-necessary expenses, and prioritize its marketing expenditure, thus obtaining cost savings of up to 15% on its budget.
