How to Create Value when the Heat is On?
At the 5th Medical Device 3P Forum earlier this month in Berlin, Germany, I had the opportunity to chair an interactive morning session on Product Marketing for Medical Devices and to kick-off the discussion with Product Claim Management in a Changing Regulatory Landscape: How to create Value when the heat is on?
Value creation indeed was the red thread indicated in the course program for our MD Product Management Forum, and approximately 60 attendees found their way to join us, despite early morning and beautiful weather in Berlin.
They saw a thoughtful talk by Mark Harvie (fm. BD, now independent consultant), who provided indepth insights on Portfolio Optimisation after a Merger and showed the critical pathways and challenges in the process after acquisitions. Mark also explained some of the underlying core principles with illustrative cases from his own vast experience and data from recent big Medical Device acquisitions.
Ruud Heugen (Head Procedural Solutions @ Philips Image Guided Therapy) gave a very practical and down-to-earth presentation on how to "Unlock the Potential of an Established Healthcare Market Segement". He demonstrated how to systematically identify underserved aspects and still unsolved problems in this field and create a tailored solution for this problem. His talk also drew a large crowed in the subsequent round table discussions.
In my own session I worked with the experienced audience of Senior Marketers on three concepts, which allow for a structured approach in Product Claim Management:
- Discover the Needs for your Target Customers in your tarketed Market Segment.
- Understand impact of novel regulations and boundaries to create a compliant Product Claim Management.
- Find and assess Product Claim Value as base for a structured Product Claim Management.