3. PURSUE DESIRE OVER NEED
Consumer branding long since moved beyond fulfilling functional need and focuses instead on creating and fulfilling ‘desire’ – where needs have limits, desire has no boundaries. Who needs Apple? And yet… Brands that create a more desirable experience, command a premium. The luxury industry is further evidence of this. Thus in a competitive environment, preference and competitive edge is driven less by efficacy and functionality and more by patient benefit and experience. What does the ‘person behind the patient’ desire?
4. RE-DEFINE VALUE
Value is not cost. In a patient-centric world value is more than the sum of a product and its clinical attributes, it is the totality of the experience the brand offers. In addition to its clinical claims, the benefit, life- and emotive experience must be accounted for. Sales and profit are crude measures of value. They fail to measure brand equity, a powerful and sustainable differentiator. Understanding, measuring and tracking the key drivers of brand equity is more useful – it’s indicative of relevance, preference and brand loyalty – a measurable barometer of future growth.
Treatment adherence provides another hard measure to explore from an effectiveness-measurement standpoint – potentially the most value-creating of all.