Prescription for Growth: Embrace a Niche

In today's payer climate, even innovative products face challenges securing reimbursement if they come with a premium price. Marketers need to rise to the challenge. The greatest value marketing leaders can provide is to harness the power of strategic thinking. It starts with developing a compelling product positioning. There are three core elements in a positioning: 1. target, 2. frame of reference, and 3. differentiating benefit and support. Broad launches are appealing, but there's a simple problem: they don't often work in today's healthcare ecosystem. Finding a niche is a far better approach. Niche positioning might imply going after a small market. Rather it means going after a select market that has intense needs. If a niche positioning is executed well, resources will be more focused where they will achieve the biggest result.