The client, a well-known pharmaceutical company, wanted to identify the optimum selling price for their innovative dermatology treatment in emerging markets based on patients’ willingness-to-pay, access restrictions, and reimbursement criteria from payers/insurers.
What we did
After full evaluation of applicable product profiles, patients and payers were asked to evaluate the new offering. Patients were further asked their likelihood to purchase in questions designed with proven price sensitivity techniques such as Gabor Granger and Van Westendorp.
By using these techniques we were able to create uptake and revenue curves based on the most optimistic, most likely, and most pessimistic scenarios thet drew on patient willingness-to-pay and access/reimbursement restrictions.
- Appropriate patients were screened and asked to conduct online interviews (via internet café in some markets)
- Teledepths were used to interview payers and insurers across representative
- Standardisation of costs to ensure clear interpretation across different formulations and regions
- Gabor Granger
- Perceived Value Pricing (PVP)
- Van Westerdorp
Our findings helped our client to select the most appropriate price point for their product in each market. Further to this we incorporated anticipated uptake figures and secondary data sources to design a predictive forecast model used for long-range planning decision making which was to be used at both the local and global level.
The client followed our recommendations on price and achieved a more successful launch and has subsequently returned for post-launch follow up segmentation, messaging and tracking studies.