“ Determine your probability of success for achieving your desired outcome”
When you launch new brand in Big pharma
When measuring the probability of success with creating a change in your customer’s behavior
Your success depends not only on your action but also on the reaction of the other participants in the market
Just as your presence affects the market and triggers a reaction in other participants, so also do their reactions and behaviour influence yours, and they can restrict, modify or accentuate your path to success.
If, for example, you chose to differentiate your product from the competitors currently serving this marketplace demand, you would need to know how much supply your competitors are providing and the current level of satisfaction your target customers have with using your competitors’ products.
You need to design your information strategy so it informs and enlightens you with these valuable insights that will allow you to anticipate their reactions scenarios and plan your tactical playbook for most likely ones . Thereby increasing your probability of success.
Another consideration, beyond assessing the demand or size of the opportunity, is to assess the supply currently serving this demand. Is demand supplied with one player or more? What are these players doing, and what are they good at? Do they fully address the customers’ needs?
As with everything in business, it’s imperative that you find the best positioning for your competitive advantage, which means identifying the intersection of what your customer wants, what you do best, and which exceeds the abilities of your competition. This will increase your probability of success and place you in the Winning Zone.
