Establishing Marketing Linkage Bio-entrepreneurship Development Workshop Biten Kathrani Feb 27, 2018

Marketing Linkage starts on Day 1. Innovation is a process of delivering a significant positive change for which a customer is willing to pay Deliver Value(customer) Identify & Solve a problem or need For the right customer Capture Value for the business

3 Frameworks to consider 5 P’s 4 A’s Biodesign Process – 3 I’s Price, Performance, Relational Value

Critical Trends and Facts about evolving healthcare ecosystem One size fits all to “Multi-tier / Multi segment” markets Differentiated customer needs / value propositions Healthcare in many markets is transactional Every stakeholder thinks “What’s in it for me?” Diverse / conflicting needs Affordability is not just an Emerging market challenge Increasing need for “Outcomes based innovation” Product specific value vs Care continuum impact.

5 P - Multiple stakeholders with diverse needs / value demands Improved efficiencies in practice and use of staff Reduced cost, Increased efficiencies Better access, awareness, & affordability Increased job satisfaction, Improved outcomes Providers Evolving & multiple roles - Payer, Provider Govt. / Policy Makers Population Health management at affordable cost to the system. Universal Health insurance,

4 A’s - The issue of the forgotten “A’s” Disease awareness Availability of solution Recognize symptoms & “Act” Right entry point Disease / solution Awareness Access Adoption Affordability Short term value vs long term? Patient segment Hospital segment Who is the payer? Can the patient reach the right physician? Does physician have access to solution/ infrastructure? Is the physician willing to adopt What’s the differentiator? Is the patient willing to adopt ?

Market positioning – Performance, Price, Relational value High Avg Low (less features) Price Relational Value Brand, Goodwill etc.

Biodesign – 3I framework, needs a diverse team Clinical, Technical and Strategic Marketing 1. Identify The Customer & their Needs 2. Innovate the Appropriate Value 3, Deliver & Capture Value Define your customer(s) Understand stakeholder Power dynamics Understand the Decision Ladder / Matrix Clinical Immersion Care continuums, Care pathways Procedure & resource maps. Identify the constraints Identify the strengths in the ecosystem Be local Identify problems beyond “Cost” For the customer(s) For the payer BSC Type Products / services / solutions Focused on the needs Business Model Scale Incremental Disruptive Business Model Manufacturing strategy Pricing strategy Branding & Positioning

In Summary – Think “Value” Understand Needs Innovate Biodesign 5 P’s 4 A’s PPR Market Model Value Delivery Model Customer Segmentation Decision Pathways P,P, R Positioning Solve beyond Affordability

Thank you

Embed the notion of “Value” in every step of your entrepreneurial / Innovation journey Understand Customer needs Get the “Value driver” Prioritize your Primary Customer Innovate Solutions  “Innovation Value” Design & Develop  “Design Value” Manufacture  “Capture Value” Commercial Operations  “Deliver Value”