We work with our clients in different layers of pricing cases. From formulating a comprehensive pricing strategy, to product pricing analysis and identifying near-term opportunities, we assist companies in developing pricing capabilities.
Our Trade Promotion Effectiveness service enables our clients to enhance their promotion decision making. By shaping the right framework for promotion management, including tools, analysis and operational aspects, we assist our clients in creating a successful trade promotion and improving the collaboration between the different stakeholders of this operation.
As many companies go through the new product launch process with little prior planning, we support our clients in defining a structured New Product Introduction process, including supporting tools and KPIs, in order to achieve an efficient and successful New Product launch.
Our methodology includes pragmatic framework for the entire life cycle of a new product, from idea and R&D to market testing and product launch into the marketplace. It includes pragmatic framework for the entire lifecycle of a new product:
Strategy definition is the first step in the process of achieving an efficient and successful product launch. With our clients we define their vision for their market and product strategy, their targeted customer segments and their pricing strategy.
A profitable process requires business analysis. The analysis is the best tool for clients to be equipped to make the “Go-No Go” decision. It also serves as the base for the definition of the "How to Market" strategy.
Managing the Launch
A product launch is a cross organizational process and therefore must be managed as a project. We build our clients a tailored structure that best fits the product launch process and its management needs. We help define the responsibilities in each stage, the team members' assignments, the milestones and achievements, internal and external interfaces, and any bottlenecks that need to be managed.
Products Launch Process, Tools and KPIs
An improved product launch process can shorten time-to-market and time-to-profit. We help our clients define activities, process outputs, gate reviews, supporting tools and KPIs to manage and control the full process. We help our clients understand and adopt their project management approach and build their launching plans according to a specific managed pattern.
Establishing a routine to draw conclusions is the closing step of the process, and it is most often mistakenly skipped. We believe that this step serves our clients not only as a last step, but also as valuable knowledge for moving forward. Therefore, we help our clients fully use this resource by defining the process and post-launch measurement routines. Product launch success and process efficiency are measured by the same measures: time-to-market, budget adherence, ROI, market share, brand awareness, etc.
We supports our clients from the strategy design (including pricing, positioning, market potential analysis, Go to Market strategy) to creating a well synchronized product launch by creating a clear definition of responsibilities, work streams, management routines and tracking processes.
The continuous introduction of new technologies and drugs, aging populations, increased awareness of healthcare issues, attention to care and quality of life and a new focus on effectiveness of treatment across all national health care systems have all been contributing to an ever increasing cost pressure from payers around the developed world. These pressures have been materializing in numerous ways such as increased centralization of purchasing processes, consolidated buying groups, and an overall sensitivity to healthcare economics-related value propositions.
Under these conditions, competitive pressure on prices is growing, which makes product price a key factor when a customer is considering options. The impacts on the Life Science and pharmaceuticals industries are significant: generics become ever more attractive, decision making is done more and more at the administrative and the financial side and unprepared vendors are finding themselves in a difficult position trying to justify their products’ value adding properties. All of this puts a renewed focus on optimizing the competitive bids and tender management process.
Over the last several years it has been shown that a proactive, structured approach to tender management can yield high-level results, even when challenged with fierce competition. Tefen’s own approach to tender management in such situations is based on three pillars:
1 - Develop and implement tools to support tender execution
Using a number of structured tools can significantly increase the effectiveness of the tender process. These tools include:
2 - Perform business intelligence activities, supported by specific tools, within a regular process
Business intelligence is a regular and critical process for gathering information and defining commercial strategy. The process aims to answer questions such as:
Using the tools described above, these questions can be answered and can support account managers in forecasting the issuance of new tenders, understanding intra-organizational influences within a client, optimizing the product/price mix offered to each account and ensuring actual sales fall in line with established tenders.
3 - Develop and implement commercial structured approach
Matching the right set of activities at each of the tender phases – pre-tender, the tender itself and post-tender – is key for execution and to maximize winning chances. For example, planning and ensuring resources are available to support and coach physicians at the post-tender phase is crucial to mainlining long-term relationships that will improve the odds of securing the next tender.