digitGaps Business Consulting Services help clients plan and invest in their marketing and operating models to enhance productivity and get a competitive advantage in the high growth markets.
The global environment is changing in leaps and bounds due to increasing pressure and our clientele are looking to us to find ways to enhance their product portfolio and to access new markets.
At digitGaps, we help our clients to achieve targets by providing timely, intelligent, and focused decision support. This requires a comprehensive assessment of both internal and external factors, which usually have interdependent relationships.
Our goal is to provide clear business directions, develop new revenue streams and identify investment opportunities.
- A comprehensive understanding of the forces driving the market and developing strategies in relation to these forces is one of the key success drivers for a company.
- Market evaluation helps to validate the potential opportunity of the market and enables understanding of the market dynamics in a greater detail.
- digitGaps has designed a structured framework for market evaluation, which integrates both commercial and clinical factors. Our approach builds relationships between various factors impacting the market and analyse their impact in relation to each other.
Price is one of the most important aspects that determine a product’s commercial success. Pricing decisions span the entire product life cycle, not just at launch stage. Traditionally a ‘cost-based’ approach was followed to set prices. However, changing market environments demand more sophisticated approaches, involving multiple factors that impact both the market and key stakeholders.
At digitGaps, we identify multiple parameters impacting the pricing dynamics and evaluate the impact of these parameters individually and in relation to each other. Various analyses involved in developing a pricing strategy are:
- Price bench-marking
- Analogue analysis
- Price volume relationships
- Outcomes analysis
digitGaps has shaped a comprehensive yet simple framework for pricing strategy development, helping our clients in developing right pricing strategies across the product life cycle. Our approach evaluates product attributes, cost benefits, market requirements, purchase behaviour, market price evolution and competition, individually and collectively, to arrive at the right pricing strategy according to their stage in the product life cycle.
Understanding the future revenue flows and profitability of a product is critical for optimizing resource allocation and marketing strategy development. Forecasting the potential of product involves identifying the multiple dimensions involved in shaping product demand and evaluating them in relation to each other.
Forecasting is a multidimensional exercise, involving a combination of various analytics:
- Market assessment
- Attribute analysis
- Analogue analysis / diffusion matrix
- Pipeline landscaping and its impact assessment
- Pricing assessment
- Model development
- Data modeling
digitGaps has created a flexible and easy-to-use forecasting platform that considers commercial, clinical and regulatory parameters impacting future product cash flows. Our robust approach encompasses all dimensions impacting a product’s potential and involves in-depth evaluation of market complexities, product attributes, life cycle considerations, company portfolio, existing competition, pipeline and future events.
The performance of a product or a company in the initial years after its launch or entry is an indicator of long term success, thereby making early and rapid uptake critical. Even for a product with a superior profile, success may be mitigated due to an ineffective entry plan.
Developing an effective market entry strategy requires an in-depth evaluation of market forces and internal capabilities. This involves:
- Analysis of the key drivers and barriers in target market like regulations, socio- economic conditions, competitive landscape etc.
- Analyses of internal capabilities, promotional mix, pricing, customer segmentation, launch readiness etc.
At digitGaps, we support our clients in developing entry strategies by comprehensive evaluation of the internal and market forces that impact the entry of product or company. Our approach has inbuilt flexibility to adapt to the various contingencies that may occur during a launch. We analyse multiple parameters like macroeconomics, the regulatory environment, the competitive landscape, product attributes, company capabilities and launch readiness by using market data and customized market research.