Building an understanding of value
Being able to deliver something of value to your customers is one of the key factors to commercial success. Having the ability to create, communicate, and capture the value of an asset is an important process that is essential in optimizing product launch strategies.
Despite its clear importance, many organizations fail to gain a comprehensive view of an asset’s value across the development and planning process.
Red Nucleus takes a proactive and holistic approach to understanding value. We are passionate about developing strategies that lead to improved patient access and outcomes, while maximizing commercial opportunity.
Approach to Value diagram
An analytical, data driven and evidence-based approach
A key part of the value assessment process is building an understanding of the context in which your product will be evaluated and utilized. We apply an analytical, data driven, evidence-based approach to analyze your product’s or organization’s situation and inform critical business decisions. The first step involves reviewing the buying process, relevant stakeholders, and decision incentives which will inform where to play, how to win, what it’s worth, and how to execute.
Buying Process Framework
The Red Thread to Commercial Success
Ultimately, a product’s value and launch strategy must be integrated across scientific, medical, and commercial teams. End-to-end visibility amongst stakeholders and collaborative strategic planning is critical for meeting the functional requirements for launching and commercializing a medical product.
The Red Thread links all the disparate components of commercialization together, with our team acting as an extension of your organization. In doing so, we facilitate cross-functional communication and collaboration to ensure strategies are designed to collectively support the broader commercialization strategy.
We recognize and understand the strategic complexities unique to each market, and the key factors of launch success, and have the functional and technical expertise to optimize the performance of your product.
- Build a value-based approach
- Center the corporate vision and overarching commercial strategy around value early to drive commercial success and maximize resource utilization
- Create the product development strategy
- Incorporate regulatory, clinical, and commercial insights to ensure alignment of the target product profile with the broader value strategy, and creation of consistent strategies that drive successful regulatory submissions and commercialization
- Assess the healthcare ecosystem and stakeholder needs
- An understanding of evolving market and competitive dynamics helps tailor value and product positioning across stakeholder types and develop effective engagement strategies for each archetype
- Finalize go-to-market strategy
- Optimize launch readiness by preparing customer-facing teams with the resources to execute the brand strategy, communicate value, and enhance access positioning through digital and omnichannel approaches
- Become a performance-based organization
- Monitoring KPIs, training your team, and managing knowledge allows organizations to identify and address challenges early on with proactive and reactive strategies