MARKET ENTRY SERVICES

MARKET ENTRY SERVICES

The Fratrem Group is comprised of a range of medical, scientific and commercial ventures that operate in the UK/EU, USA, Canada, China, South Africa, and the Middle East. The company has been operating for over twelve years and works in the industry sectors of pharma, biotech, genetic & cell-focused therapies, IVD and digital health. The company is comprised of executives, scientists and medical doctors. The company works with governments, regulatory bodies, medical institutions, investors and hospital leadership teams. The company works across disease areas and has strengths in oncology, cardiovascular, and metabolic disorders. The ‘market access and development’ divisions supports companies from the initial market assessment stage through to opening an office in the new markets.

MEET THE TEAM

Entering a new market, category, business or region exposes companies to a balance of risk and opportunity. It requires organizations to navigate new territory and with this comes challenges that are often interdependent and multifaceted. Our clients often have questions which can be characterized across 4 themes:

  1. Route-to-market: What is the best route to market for our business? Should we go it alone, acquire an existing player or find strategic partnerships? Considering our ambitions and strategy, how should we proceed with core decisions (velocity, financial leveraging, risk appetite, revenue and profitability targets)?
  2. Return on investment: How much will it cost to enter this market and what is our expected ROI? Based on our strategic decisions and entrance phasing, what are the associated ‘entry economics’ i.e. financial projections of revenue ramp up, costs (variable and fixed), profits, needs for financial leveraging, risk and disaster scenario estimations?
  3. Positioning: Given the market and competition, what is my marketing and sales entry plan? How should I position myself in terms of price, USPs, target audience etc.? What value proposition is likely to boost growth fastest? Which consumer segments will I target and which channels will I use to reach them?
  4. Implementation roadmap: How do I execute this strategy in real life and what are the associated risks and impacts? Which activities and projects should I initiate and in what order (roadshows, communications, client engagements, hiring, G&A investments, contracts, legal requirements, operations ramp up etc.)?

OVERVIEW OF THE PROCESS

STEP 1 – UNDERSTANDING
Gather strategic insights into the market: Our teams access industry experts to provide support and knowledge about market specificities, guaranteeing a realistic vision of the market and a practical approach. This is to give the team a holistic understanding of the market and the challenges your company will face when entering. The team’s first responsibility to the client company is to advise in understanding whether the client can compete in the target market.

STEP 2 – EVALUATE THE DIFFERENT ENTRY STRATEGY OPTIONS
We undertake a qualitative and quantitative analysis, based on an assessment of different players in the business ecosystem (competitors as well as partners), expert interviews, previous industry experience and field visits (visiting points of sale and meeting clients, consumers, influencers, government leaders, brokers, wholesalers and academic experts etc.) to bring the most relevant inputs possible.

STEP 3 – DEFINE THE ENTRY STRATEGY MARKETING AND SALES PLAN
For the selected scenario; the depth and breadth of the plan is defined with you and involves deliverables such as a new product brand plan, sales and trade marketing strategy (until pricing definition), trade marketing plan and commercial and trade organizational structure after roll-out.

STE 4 – DEFINE THE ENTRY STRATEGY MARKETING AND SALES PLAN
In this phase, we consider the challenges you will face when entering the market mapped in the previous workstreams, define the main risks and build an action plan that considers these elements and your capacity for speed when entering the new market.

Research factors included

1. In-depth primary market research through speaking with KOLs and authorities.
2. In-depth landscape and competitor market research.
3. Establishing trials / pilot studies / case study of your product or service.
4. Advice on strategy: which country and why.
5. Advice on regulatory processes, procedures, and politics.
6. Research and advise on pricing and reimbursement.
7. Guidance on cultural and socioeconomic differences.
8. Shortlisting and support in the selection of partners, JVs, agents, and distributors.
9. Support in the creation of region sales and marketing plans.
10. Support in the recruitment of key business personnel in the region.
11. Advice on understanding government department infrastructure and influence.