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  • eyeforpharma Philadelphia 2018: A delegate’s perspective
    • 05/08/18
    • Health
    • Global
    • English

    eyeforpharma Philadelphia 2018: A delegate’s perspective

    Patient Centricity is not new…but with so many willing partners for pharma, who is the right one to help leverage the full power of patient centricity?

    At eyeforpharma in Philadelphia this April, the theme was “Know your patient. Deliver real value.” The concept of patient centricity is not novel, but it may be harder than we thought to leverage its inherent power and “deliver real value.” While pharma is making headway, there is a realization that it will take longer to accomplish, and it is a multifaceted venture that requires many partners. In a survey of over 1,200 industry players, 91% said patient centricity is important, but only 30% feel they are confident that they can make it happen. Technology, AI, machine learning, strong payer strategies and medical affairs will all need to work in concert to drive patient centricity, to improve patient care and shorten the benefit approval process.

    Science and innovation does not seem to be the problem – alignment is!

    The science of medicine continues to evolve at a rapid pace, creating new targeted drugs that focus on specific patient types (examples include Hep C, CAR-T and others), leading to higher life expectancy. However, what is missing is the drive to truly move the patient into the center of our universe, using the patient as a starting point rather than an afterthought. There was widespread consensus that there needs to be a major change around the corporate culture/mindset, alignment with managed care, regulatory challenges and slow R+D drug development processes. Are there lessons to be learned from other industries that have put the consumer first?

    When building a patient-centric model, the devil is in the details!

    Several companies talked about how they have put patients first, and an honest assessment of the current situation is almost always a good starting point:

    • Look within your company and examine its culture.
    • Engage with patient authentically and often.
    • Learn from other industries particularly tech (Amazon experience).
    • Deliver on patient promises.
    • Use data smartly and judiciously (big data does not always mean better data).
    • Help patients be self-reliant – allow them to guide us and help connect pharma with their lives.

    Where do we go from here?

    Pharma is betting big on digital transformation for the industry, but technology will not be enough. What is needed most of all is a change in mindset and culture, beginning with leadership. As multichannel marketing continues to become more and more relevant, placing the patient at the center of these marketing efforts, and truly designing programs and touchpoints to understand the patient perspective, will drive success. The pharma industry is at an important inflection point – it has always understood the importance of patients, but now it’s time to leverage data and technology resources to truly position patients as the fulcrum around which it will pivot and build the brands of the future. The next few years will determine whether we got it right.

    To share your thoughts, email pankaj.thapar@gfk.com or leave a comment below.

  • How is the VR industry developing?
    • 04/27/18
    • Technology
    • Global
    • English

    05/17/18 - 05/18/18
    How is the VR industry developing?

    Join us at this year´s VRX Europe in Amsterdam from May 17-18 to hear GfK speak about the latest market trends in VR. 

  • UK Consumer Confidence drops two points to -9 in April
    • 04/27/18
    • Financial Services
    • Retail
    • Technology
    • Consumer Goods
    • FMCG
    • Global
    • English

    UK Consumer Confidence drops two points to -9 in April

    GfK’s long-running Consumer Confidence Index decreased two points in April 2018. Four of the five measures were lower, with the remaining measure increasing.

  • Insecurity causes the consumer climate in Germany to dip slightly
    • 04/26/18
    • Press
    • Global
    • English

    Insecurity causes the consumer climate in Germany to dip slightly

    Findings of the GfK Consumer Climate Study for April 2018

  • Global quarterly smartphone demand down year-on-year though revenue growth remained strong
    • 04/25/18
    • Press
    • Technology
    • Point of Sales Tracking
    • Trends and Forecasting
    • Global
    • English

    Global quarterly smartphone demand down year-on-year though revenue growth remained strong

    Global smartphone demand fell two percent to 347 million units in the first quarter of 2018 (1Q18). 

  • The value of choosing the right approach to pharmaceutical launch pricing
    • 04/23/18
    • Health
    • Global
    • English

    The value of choosing the right approach to pharmaceutical launch pricing

    Join us on May 16 as our pricing and market access experts host a 45-minute webinar, “The value of choosing the right approach to pharmaceutical launch pricing.” 

  • Connect with our team at EphMRA
    • 04/23/18
    • Health
    • Global
    • English

    06/26/18 - 06/28/18
    Connect with our team at EphMRA

    June 26-28, Basel Congress Center in Basel, Switzerland
    Meet our top health experts during this healthcare business intelligence/analysis conference. Learn more about how we’re addressing our clients’ commercial priorities in a changing marketplace. 

  • Connect with the GfK Health team at the BHBIA Annual Conference
    • 04/23/18
    • Health
    • Global
    • English

    05/14/18 - 05/15/18
    Connect with the GfK Health team at the BHBIA Annual Conference

    May 14-15 in Kensington, London, UK
    Hear our top industry expert speak on” How consumer research innovations can help boost health intelligence.” Learn how we address our clients’ commercial priorities in a changing marketplace. 

  • Join GfK Health at Intellus!
    • 04/20/18
    • Health
    • Global
    • English

    05/06/18 - 05/08/18
    Join GfK Health at Intellus!

    May 6-8 (Booth #204) at the Philadelphia Marriott, Philadelphia, PA, USA

    Our top industry experts are ready to address our clients’ commercial priorities in a changing marketplace. 

  • Consumer sentiment in Europe remained cautiously optimistic
    • 04/19/18
    • Retail
    • Global
    • English

    Consumer sentiment in Europe remained cautiously optimistic

    Findings of the GfK Consumer Climate Europe Study for the first quarter of 2018

  • Meet with us at ISPOR 2018
    • 04/18/18
    • Health
    • Global
    • English

    05/19/18 - 05/23/18
    Meet with us at ISPOR 2018

    May 19-23 (Booth #436) at Baltimore Convention Center, in Baltimore, Maryland, US 
    Explore our many posters. And meet with our Market Access and Patient Centricity experts who are ready to help strengthen your strategy at every step of the value chain. 

  • Tapping into people’s need to take a break
    • 04/16/18
    • Technology
    • Travel and Hospitality
    • Trends and Forecasting
    • Global
    • English

    Tapping into people’s need to take a break

    I had two friends who posted on Facebook recently within hours of each other. One had spent the day at a theme park with her family, all of whom left their phones “in the car ON purpose. Best way to enjoy the day together!” The other had been sharing many stunning photos of a vacation in Egypt; yet on the last day, she decided not to take photos but “just to see with my own eyes.”

    This is hardly surprising. “Experiences are more important than possessions” perpetually ranks among the highest-rated attitudinal statements in the annual GfK Consumer Life global study. It ranks seventh out of 42 statements listed. It also ranks third for teenagers 15-19 and in Canada.

    Taking a tech break

    It is certainly ironic that my friends talked about their tech breaks on social media, yet this reflects the mixed feelings many people have toward technology. Yes, it helps us do many things we could never do before, but people are increasingly recognizing its addictive nature as a real problem. This is something that we warned about two years ago when we found that Technology Leading Edge Consumers were in the forefront of being concerned about this drawback to technology. Fully 45% of global consumers belonging to this early adopter group agreed “I find it difficult to take a break from technology, even when I know I should,” 13 points higher than average.

    Taking a tech break can be easier said than done, of course, and going cold turkey isn’t necessarily the answer. Some brands take a hybrid approach by promoting tech use specifically to make time for real life. For example, Citi is promoting its mobile app with a cute dad-and-kids ad and the slogan “spend the moments in the moment.” The Pocket Points app motivates students to focus on classes; when they lock their phones while on campus, they earn rewards points for local and online merchants.

    Another approach is to take a complete if temporary break from tech. Musician Jack White has banned phones from his upcoming concert tour because he “wants people to live in the moment.” Organizations such as the YMCA and Boy Scouts encourage families to help children take a tech break.

    The Story Inn goes a step further with its slogan “One Inconvenient Location Since 1851.” The Inn is actually a cluster of buildings in a virtual ghost town in Indiana that offers lodgings, dining, and a venue for special events. Rooms are billed as “One Distraction-Free, Tranquil Escape” and have been converted from the likes of a one-room schoolhouse, carriage house, and grain mill. They don’t have TVs, phones or internet service.

    Taking a real-life break

    Vacations represent a different kind of break, a pause from the real life that so many people find stressful. Destinations like Walt Disney World epitomize this type of experience on a grand scale, but an infinite number of products and services can offer mini-breaks at any time and anywhere.

    The Rituals home- and body-care brand emphasizes the benefits of incorporating soothing experiences into everyday life. “They are the seemingly meaningless moments we all tend to overlook. Rituals unveils these moments and reminds you to experience them with joy.” L.L. Bean encourages people to “live every day like it’s the weekend.”

    Then there is literal escapism – the phenomenon of escape rooms, a hybrid of team role-playing and the classic locked-room mystery. Although not for everyone (such as those with claustrophobia), they can provide respite for problem-solving thrill seekers.

    Most people prefer more serene escapes, however. The share of respondents to a GfK Consumer Life global survey who prefer a relaxing vacation over an active one is 62%, up 7 points from 2012. Photos submitted by respondents indicate that sandy beaches top the list of places where people like to relax, followed by other outdoor venues such as forests, lakes, gardens and parks. We don’t need research to tell us that nature makes us feel good, but in fact, research does bear this out.

    And yes, video games provide escapism, too, but it’s important to keep in mind that most people still don’t view virtual experiences on par with the real thing. Just 30% of global consumers agree that “virtual interactions with people and places can be as good as being there in person,” ranking it #40 among 42 attitudinal statements.

    Conclusion

    Virtually every product and service can tap into people’s desire for experiences, whether they be social or solitary, physical or intellectual, tech or non-tech. The key is to understand precisely what kind of experience your customers crave.

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