I read today about a hepatitis C drug that costs $1,000 per pill. It’s called Sovaldi. Don’t get me started on the paucity of pharma names – it seems they are all used up. Marketing consists of 4Ps: Product, Price, Place and Promotion — so I have a question for the marketing director of Sovaldi. Is this a niche product for the very rich? The rich who, by the way, don’t index high for Hep C?
There are three parties involved in this little health care rubric: the drug company, the patient and the insurance company. The drug company (Gilead) is giddy with its 1st quarter earnings. Record earnings. The patients are happy, I suppose, with a drug that presumably is better than what currently exists. And the insurance companies? They must be clearly wondering how this drug got through the FDA.
The pharma marketing director who set the price of Sovaldi must have used a formula to cover R&D, physician detailing, marketing etc., but s/he knew that insurance companies would foot the bill. Very few people can pay $1,000 for a pill.
So who is to blame for approving this non-viable, specialty product? Not to seem cold but someone along the chain must have known this drug price would be a little out of hand. They must also have known insurance companies would pay for it. In what marketing scenario does one price a product so high that nobody but a very few can afford it? Entire families are going without healthcare in the ACA Age because of the price of one of these pills. Something is broken. And someone from the insurance industry needs to step up and fix it. Peace.
February 21, 2018 in Marketing
Claim and proof are the driving forces of the What’s The Idea? brand strategy framework. Find a claim (a simple, endemic idea that sets your product apart from the competition), then array three proof planks beneath. Proof sells the claim. It is evidence. The planning rigor, unlike many, is evidence-based. It’s not overly complicated. That’s […]
February 20, 2018 in Marketing
Highland Brewing is “an original” craft brewery located in Asheville, NC – founded in 1995 by Oscar Wong. When I moved to Asheville and having becomes a big fan of the Highland Gaelic Ale, I decided to contact president Leah Wong Ashburn for a quaff and chat about branding. Ms. Wong, I learned, was way […]
February 19, 2018 in Marketing
One of the keys to good brand planning is the consumer interview: Getting consumers to open up and share deeper insights. To start you must do some shallow digging, but you don’t want to stay there too long or the process will feel like an online survey. If you sound like a research survey, you […]
February 16, 2018 in Marketing
I went to the Starbucks yesterday, one housed in my local Ingles grocery store, and a nice young women in a non-descript polo shirt came to serve me. I was looking for an Ingles logo on the shirt, but didn’t see one. Within a minute another woman walked into the Starbucks retail space with a […]
February 15, 2018 in Marketing
As a brand planner, whose primary concern is developing master brand strategy, my discovery phase is all about finding the right claim and the three most motivating proof planks supporting that claim. This claim and proof framework is perhaps the simplest most easy to understand means by which to build a brand. Claim and proof […]
January 30, 2018 in Marketing
I’m working on an assignment that has me reading a child development text by a PhD and clinician who also happen to be parents. The text delves into brain function. Fellow brand planner and friend Megan Kent has built up a great practice mapping the brain to preference and emotional attachments to brands. Check her […]
January 29, 2018 in Marketing
I was reading a recipe this weekend for chick pea chili (don’t judge) and decided right off the bat I’d never make it. Not for the chick peas, not for the drive to the grocery store(s), but for the over complication of ingredients. I favor minimalism in my cooking. It’s easier to taste a few […]