Longitudinal performance management of product marketing
Longitudinal performance management solutions are provided for enhancing the effectiveness of product marketing efforts in dynamic market conditions. The solutions are configured to assess market conditions by analyzing multiple interacting market factors, which collectively influence product market performance. The analysis involves non-linear multivariate algorithms which can identify critical performance indicators, trends, and changing market conditions. The solutions may be deployed for analysis to identify key current market drivers or factors. Timely product marketing activities are fashioned to respond to dynamic market conditions on the basis of the identified market drivers or factors
1 . A performance management solution (LPM) for enhancing the effectiveness of a product marketing effort, the LPM solution comprising the steps of:
(a) longitudinal data integration of primary market research data and secondary market data; and
(b) periodic analysis of the integrated data, whereby current market driving variables are identified.
2 . The LPM solution of claim 1 wherein step (b) comprises non-linear multi-variate analysis.
3 . The LPM solution of claim 1 , further comprising the step (c) of optimizing product marketing activities in response to the identification of the current market driving variables.
4 . The LPM solution of claim 3 wherein step (c) comprises using optimization algorithms coupled with marketing promotion simulators.
5 . The LPM solution of claim 3 wherein step (c) comprises using optimization algorithms coupled with resource allocation algorithms.
6 . The LPM solution of claim 1 wherein the product marketing effort relates to the marketing of a pharmaceutical product, and wherein the primary research data comprises prescribing-physician attitudes.
7 . The LPM solution of claim 6 wherein the secondary market data comprises prescriber-by-prescriber prescription data related to the pharmaceutical product.
8 . The LPM solution of claim 7 wherein step (a) further comprises integrating reference data.
9 . The LPM solution of claim 1 , wherein step(b) further comprises providing early warnings of changes in market conditions.
10 . The LPM solution of claim 9 , further comprising analyzing the market impact of the changes in market conditions.
11 . The LPM solution of claim 10 , further comprising generating quantifiable action items in the a product marketing effort to address the changes the changes in market conditions.
12 . The LPM solution of claim 1 , implemented as a software arrangement on computer-readable media.
13 . A software arrangement for enhancing the effectiveness of a product marketing effort, the software arrangement comprising:
(a) a data integration component that provides longitudinally integrated primary market research data and secondary market data; and
(b) an analytical component that is configured to periodically analyze the integrated data and identify current market driving variables.
14 . The software arrangement of claim 13 , wherein the data integration component further provides integrated reference data.
15 . The software arrangement of claim 13 wherein the analytical component comprises non-linear multivariate algorithms that are configured to identify the current market driving variables.
16 . The software arrangement of claim 13 wherein the analytical component is configured to provide early warnings of changes in the product market conditions.
17 . The software arrangement of claim 16 wherein the analytical component further comprises optimization algorithms that are configured to generate product marketing action items in response to the changes in the product market conditions.
18 . The software arrangement of claim 13 further comprising market promotion simulators.
19 . The software arrangement of claim 13 further comprising a reporting applications.
20 . The software arrangement of claim 19 wherein the reporting application comprises a dashboard configured to display market variable values.