Pharmaceuticals & Medical Products
Every foray into product development is a high stakes endeavor. We apply our data-driven approach to all aspects of the pharmaceutical process – from R&D to market assessment to launch strategy to post-launch analysis.
Translating a great idea into an effective and desirable product can be a long and expensive process, riddled with inefficiencies. Cicero Group uses a big data system to speed up analysis and quickly understand results of clinical trials. Analysis of these insights allow a company to develop sound decision-making regarding future funding decisions. By eliminating trials that show little promise of progress, millions of dollars in this integral and costly part of the process can be saved.
Product Launch Strategy
Successful product launches in Pharma require understanding of the unique market traits. Cicero Group uses multiple analytic tools to produce the best product introduction strategy by leveraging data from in-depth physician interviews, online surveys, demand modeling, and price elasticity analysis. This enables a Pharma company to form a strategic product introduction through targeted channels, ensuring product exposure to the right markets at the right price.
Accurate profiles of market variables such as size, consumer willingness to pay, and demand are integral to successful product development and release. Cicero Group helps companies discover customer profiles, future trends, true market size, and ROI assessments based on in-depth analysis of data collected through quantitative and qualitative methods. Cicero Group utilizes customer segmentation and financial modeling to develop strategic plans so Pharma companies can design an optimal marketing plan.
The pharmaceutical landscape is in constant flux, rendering old models of profitability obsolete. In an industry where mistakes can be very costly and the landscape is always evolving, companies need to make the best strategic decisions to ensure long-term viability. Cicero Group uses a data-rich approach to analyze organizational processes to improve upon inefficiencies, streamline processes, and enact cost savings. When combined with predictive analytics to identify areas of potential growth and enact measurable goals, Cicero Group can develop a customized operational strategy that will increase productivity, efficiency, and profitability for years to come.