Share Decline Reversed!
One of the UK's leading antibiotics providers had observed that over 4 months their growing market share had become flat and had latterly started to decline. The Consultant provided consulting insight to facilitate the latest alignment of the Company to their customers’ perceptions. This allowed Product Management to rapidly bring the product’s growth plans, and profit, back into line.
Customer Issue
In spite of a market leading position and years of successful brand management experience the marketing team were at a loss to know why their product’s performance had “topped out” and apparently started a market share decline.
The consultant was engaged to advise on this worrying trend and provide answers to the question “Why? “; as well as giving actionable insight for innovative solutions to rapidly rectify the situation.
Customer Comment: "This in-depth research opened my eyes to a new way to understand and operate more successfully in the antibiotics market. I would certainly use this technique again". Group Product Manager, Pharmaceutical Company
Fishbone Solution
- Development of qualitative market research plan to identify:
- Perceived positioning of the product in the marketplace
- Competitor positioning
- Users’ emotions about using a range of products
- Defining a rapid, cost effective research process
- Development of a life-cycle model
- Develop initial response plan.
- Develop indicative cost model.
