Post on 24-Jul-2015
The Business WorkShop Inc.™ 2008 Confidential – Do not copy .
W E H E L P Y O U D I S C O V E R A N D L E V E R A G E O P P O R T U N I T I E S I N S E L F C A R E !
The Business WorkShop Inc.
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The Business WorkShop Inc.™ 2008 Confidential – Do not copy .
The Business Workshop Inc. 2
Our Mission
• We build economic value
• Our Marketing for value™ philosophy enables the right strategic decisions for abetter financial future
Our Business Philosophy
Marketing for Value is both a philosophy and a process. Marketing for Value is the process that drives our Self Care opportunity development. It is what we do to create value in Self Care for our clients. It is a system that ensures we successfully address the issues and the project objectives.
Marketing for Value was created because in today’s fast and furious business world nobody can afford to make ill informed decisions. Getting on the right path – the path to greater economic value – is what MFV was born to do.
The Business WorkShop Inc.™ 2008 Confidential – Do not copy .
Why We Exist
Our Reason for Being
We believe that Health is Wealth.
We believe that whether you speak with someone who has been sick, the care givers of the sick or even those who have not been through the journey of illness, most have an attitude that is centred on well-being.
We believe that every person has the right to live and feel better whatever the situation and health condition exist.
We believe that across people’s life stage, they will experience health conditions that they hope to prevent, improve, enhance, diagnose and restore and recover.
We believe that through time, people will desire to take better control of their health in collaboration with both people and technology.
We believe that as people adapt a deeper sense of responsibility , behaviour change goals toward enabling themselves to have full control of their health, the products and services they use will change.
We believe that people hope and desire to live life to its fullest.
We believe we can bridge businesses to the evolving consumers.
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The Business WorkShop Inc.™ 2008 Confidential – Do not copy .
Key Phrases That Define What We Do4
Self Care
mfV
Marketing is a value driver not a cost centre!
Added Value should be a quantitative term, not a qualitative term!
We find the link between Marketing and Cash Flow.
Is your marketing profitable?
mfV IS EMBEDDED INTO OUR SELF CARE EXPERTISE !
The Business WorkShop Inc.™ 2008 Confidential – Do not copy .
Self Care is our Expertise and Focus
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We focus on discovering and leveraging opportunities in Self Care.
We focus on the issue(s) that can significantly affect value
We focus on the consumer not the product
We focus on what is creating value – which consumers, what consumer
behaviour change, which influencers, which activities….
We use a financially based decision making tool.
Marketing for Value.... Makes Tough Decisions Easier!
The Business WorkShop Inc.™ 2008 Confidential – Do not copy .
Our Marketing for Value™ Process
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Marketing for Value is the process that drives our Self Care opportunity
development.
Our Marketing for Value process is centred on understanding the Self
Care consumer as it applies to our client situation. It is digging to find
the answers to how the desired consumer behavior change can be
uncovered, articulated, put into the proper frame of reference, and
used to develop the solutions that will discover and leverage
opportunities in Self Care.
The Business WorkShop Inc.™ 2008 Confidential – Do not copy .
From Health Care to Self Care: Consumer Trends and Forces Impacting Industry
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Health Care System –Situation Critical
(unstoppable)
Consumer Self Care Growing
Fast (unstoppable)
Industry - Limited Knowledge of
Forces at Play in Health Care System
and Consumer Behaviour Change
New Thinking Required to
find new growth
opportunities
There is an urgent need for progressive companies to understand and leverage the changing landscape
Consumer Self Care
Growing Fast (unstoppable)
Industry forces drive more consumers
and patients to adopt Self
Care.
New Thinking Translated to
new growth opportunities
As the Health Care System shrinks, by necessity, Self Care is forced on even the less willing
Today: Self Care being adopted by the early adopters
Tomorrow: Self Care being adopted more aggressively and by a larger group
The Business WorkShop Inc.™ 2008 Confidential – Do not copy .
The changing Healthcare landscape is and will continue at an accelerated pace to transformation of all industries and business that deal with consumers’ and patients’ health. The Healthcare is facing
enormous challenges due to economic sustainability, aging demographics, steep rise in chronic diseases, growing healthcare costs and most importantly, increasing change in consumer behaviour. There is an emerging power shift and consumers are now taking control of their health. The result is an emerging
industry called Self Care.
•Shift in consumption away from traditional
healthcare solutions
• Payers and governments are cutting healthcare
costs due to sustainability issues.
• More diverse influencers to health choices.
• Less control of Primary care practitioners
• New products and services from convergence of
industries (Food and Natural Health Products,
Pharmaceuticals and Self Medication, etc)
• Traditional medical interventions are integrated
with Complementary and Alternative therapies.
• Industries for the most part are ignoring new
consumer healthcare behaviour changes.
• Many industries continue to stick to their
traditional capabilities, competencies, categories
and segments.
• Governments are slow in providing support to
enable mass adoption of Self Care.
• Healthcare systems are used to the “treatment”
mindset, finding it challenging to switch to Self
Care.
Consumers are Changing Dramatically: Who, What, Why?
The Business WorkShop Inc.™ 2008 Confidential – Do not copy .
Self Care – What is it?Why Does it Matter?
Self Care is the range of options and activities that individuals embark on to maintain and enhance health, prevent disease, evaluate symptoms, and restore health
Either alone or in collaboration with health care professional(s)
Opportunity or Obligation?
The Business WorkShop Inc.™ 2008 Confidential – Do not copy .
CONSUMERS ARE MOVING FORWARD AND CHANGING….ARE YOU?
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THE EVOLVING
CONSUMER
Reactive Consumer Proactive Consumer
Consumer Behaviour Change Through Life Stages
“ I make the choice”
The Business WorkShop Inc.™ 2008 Confidential – Do not copy .
Force # 111
Healthcare systems are broken, needs structural repair and
restoration of public trust.
“America’s Health Care system is in crisis precisely because we
systematically neglect wellness and prevention”. US Senator Tom Harkin,
2005.
The global economic crisis has fundamentally put a stall on many long-
pending healthcare reforms across most developed nations. The
sustainability of public and private health spending is at risk as a result of
the ripple effects of economic uncertainty. Gaps in care must be filled to
address public support and trust.
The Business WorkShop Inc.™ 2008 Confidential – Do not copy .
Force # 212
Boomers and the general aging population are redefining the
healthcare systems.
Demands for immediate, better, more affordable, far advanced and
collaborative care are now expected. The aging consumer and patient
will continually seek ways to be enabled to take a proactive stance when
it comes to their health.
The Business WorkShop Inc.™ 2008 Confidential – Do not copy .
Force # 313
Healthcare experts are no longer the sole decision providers,
consumers and patients find other partners to support their health
goals.
Recent studies revealed that generally women who experience some health
aberrations turn to the internet first for some basic information. Then they
seek support of family and friends before they schedule a visit to their
primary care providers.
Consumers and patients will no longer be satisfied with one or two Self
Care decision support, they will require informed networks that are as wide
and far.
The Business WorkShop Inc.™ 2008 Confidential – Do not copy .
Force # 414
Technology will be just as critical as medicines are to illness to enable
Self Care.
An emerging Health 2.0 has enabled technology to play a pivotal role in
healthcare as it allows the participation of multiple stakeholders to inform,
educate, diagnose, prevent, and manage various aspects of health across
manifold functions and systems.
Recent studies reported that the Internet has become the fastest growing
source of health information and facilitator of support networks. While there
are still many aspects of technology’s health application that need to be
streamlined, its impact on consumers’ desire to proactively manage their
health cannot be diminished.
Consumers and patients will continue to seek technology enabled
information, interface with support systems for the exchange of information
and services at an accelerated pace.
The Business WorkShop Inc.™ 2008 Confidential – Do not copy .
Force # 515
Lifestyle management and the desire for consumer and patient behaviour
change are at the centre of Self Care.
In the last few years, many options and choices for prevention, health
enhancement, evaluation and treatment were introduced to the consumers and
patients.
The range of new approaches and interventions were sweeping and consumers
and patients eagerly tried many of them.
If they are generally healthy, they will engage in activities that will enhance and
maintain their health. If they are ill, they know there are things to take beyond
medications, when they are vulnerable and at risk, they will seek interventions to
prevent diseases. They will not take chances on their future.
Consumers and patients will adopt vital modifications in their attitudes and
behaviour toward the achievement of their health goals.
The Business WorkShop Inc.™ 2008 Confidential – Do not copy .
The Self Care Continuum
The self care continuum
Pure self care
Individual
responsibility
Pure medical care
Abdicated
responsibility
Daily
choices
Lifestyle
Self-managed
ailments
Long-term
conditions
Compulsory
Medical
CareMinor
ailments
Acute
conditions
Major
trauma
Healthy living Minor aliments Long-term conditions In-hospital care
The Business WorkShop Inc.™ 2008 Confidential – Do not copy .
The Pillars of Self Care
Health
Enhancement
PreventionPrimary
Secondary
Tertiary
Diagnostics Health Restoration
The Business WorkShop Inc.™ 2008 Confidential – Do not copy .
Do you understand desired consumer behaviour changes?
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The Business WorkShop Inc.™ 2008 Confidential – Do not copy .
Our Opportunity Discovery Framework19
HEALTH
SELF CARE
BEHAVIOUR CHANGE
THE EVOLVING
CONSUMER
OTC – SELF MEDICATION
CATEGORY PERFORMANCE
GEOGRAPHY & CHANNEL
MERGERS & ACQUISITIONS
INDUSTRY – CENTRIC
CONSUMER – CENTRIC
HISTORICAL & STATICEVOLVING
The Business WorkShop Inc.™ 2008 Confidential – Do not copy .
Consumer Behaviour Change : Self Care Framework
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Awareness of
Health
Condition/Problem
Awareness of
Severity
Awareness of
Cause
Motivational Drivers/Barriers
CONSUMER BEHAVIOUR
Appeal, Relevance
Importance
Social Support
Influencers
Personal Risks
OutcomeExpect-ation
Self Efficacy/
Capability
Acces-ibility
Afford-ability
Readiness to…
LISTEN, ACKNOWLEDGE, ACCEPT and ACT
The Business WorkShop Inc.™ 2008 Confidential – Do not copy .
Opportunity!21
What trends enable markets to grow faster and bigger
(enablers, new or converging technologies, environment and
societal change)
How can you make a difference?
(unmet, unserved,or latent consumer needs)
Where can you make a difference
(capabilities, know-how, competencies, processes and leveragable assets)
The Business WorkShop Inc.™ 2008 Confidential – Do not copy .
Who are influencing your consumers’ behaviour?
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“People influence each others in teams. But they influence each other even beyond personal interaction. Research has indicated that people can influence each other out to at least three degrees of separation.” David Wolfe,
Ageless Marketing
The Business WorkShop Inc.™ 2008 Confidential – Do not copy .
Influencer Considerations 24
TRUST
Source of Information
InterestPower and
Impact
Multiple Influencers
Ease of Access
AttitudeWeb
Complexity
Ranking
Prioritization
Quantification
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Influence Mapping - Rating of Influencer Groups -Example
Input in Yellow Boxes OnlyThere are 3 categories of inputs
- Criteria, influencer, and score
Criteria for Influencer Rating - Against Target Consumer
Criteria Description
Usage Percent of people that use that specific influencer - eg 22% of consumers go to the doctor for information
Credibility/Trust Percent of those influenced who believe the influencer is a credible resource
ImpactPercent of Influencers who have the ability to create instant decision
Short vs Long Term Percent of time this influencer can become an influencer very quickly without much effort
Sphere of Influence Percent of Influencers in the group that can influence in large numbers
AttitudePercent of influencer group that are clear advocates of the brand (or could be with proper informaton) - Note: 0 represents a brand killer
Cost Percent of money relative to the cost of Mass
1 Mass Score 2 Friends and Family Score 3 Trade/In-store Score 4 Health Web Sites Score
Usage 1 Usage 1 Usage 1 Usage 1
Credibility/Trust 0.3 Credibility/Trust 0.3 Credibility/Trust 0.3 Credibility/Trust 0.3
Impact 0.4 Impact 0.4 Impact 0.4 Impact 0.4
Short vs Long Term 0.5 Short vs Long Term 0.5 Short vs Long Term 0.5 Short vs Long Term 0.5
Sphere of Influence 0.6 Sphere of Influence 0.6 Sphere of Influence 0.6 Sphere of Influence 0.6
Attitude 0.7 Attitude 0.7 Attitude 0.7 Attitude 0.7
Cost 0.9 Cost 0.9 Cost 0.9 Cost 0.9
Total 22.68 Total 22.68 Total 22.68 Total 22.68
5 Gov't Web Sites Score 6 Blogs Score 7Health Media -
Traditional Score 8 Doctors Score
Usage 1 Usage 1 Usage 1 Usage 1
Credibility/Trust 0.3 Credibility/Trust 0.3 Credibility/Trust 0.3 Credibility/Trust 0.3
Impact 0.4 Impact 0.4 Impact 0.4 Impact 0.4
Short vs Long Term 0.5 Short vs Long Term 0.5 Short vs Long Term 0.5 Short vs Long Term 0.5
Sphere of Influence 0.6 Sphere of Influence 0.6 Sphere of Influence 0.6 Sphere of Influence 0.6
Attitude 0.7 Attitude 0.7 Attitude 0.7 Attitude 0.7
Cost 0.9 Cost 0.9 Cost 0.9 Cost 0.9
Total 22.68 Total 22.68 Total 22.68 Total 22.68
Influence Mapping – Scoring Process
The Business WorkShop Inc.™ 2008 Confidential – Do not copy .
Influence Map
Doctors
Professional and Other
Associations
Other HCPs
PR
Health Websites
Health – TV, Magazines, Newspapers
Dieticians
Mass
User CME
Blogs
Company Materials
Medical Journals
Peer Groups
Friends and
Family
Gov’t Websites
In-Store
Thought Leaders
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The Business WorkShop Inc.™ 2008 Confidential – Do not copy .
Strategic Implications 28
Target Consumer Behaviour Leverage on consumers’ desire to ……
Frame of Reference The big category is….
Claims, Messaging and Point of Differentiation
Differentiate by leveraging on……
Influencer Priorities Seek support and confirmation first from experts ….. Establish credentials across all identified influencers.
Influencer Engagement and Relationship Building
Early engagement of ……
Communication Vehicles Professional Education Industy collaborationConsumer Groups Mass
The Business WorkShop Inc.™ 2008 Confidential – Do not copy .
Do you know your value drivers and how they impact your financial outcomes?
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The Business WorkShop Inc.™ 2008 Confidential – Do not copy .
VA L U E D R I V E R A N A LY S I S I D E N T I F I E S S T R AT E G I E S , A P P R O A C H E S , B R A N D O R C O M PA N Y C A PA B I L I T I E S T H AT
D I R E C T LY I M PA C T E C O N O M I C VA L U E .
VALUE DRIVER ANALYSIS™
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The Business WorkShop Inc.™ 2008 Confidential – Do not copy .
Finding Value Drivers
Marketing Value Driver Definition
Value Drivers are the crucial organizational capabilities, strategies or activities giving the firm competitive advantage and therefore positively influence financial outcomes
Value Drivers are ideally aligned to corporate structure, strategy, and capabilities
Value Drivers are relevant to the corporation or business unit and when positivity driving value are unique individually or in combination as drivers or in how they are applied
Value Drivers impact Cash Flow
Value Drivers Discovery Process
Consumer understanding
Company successes and failures and reasons why (complete business understanding and analysis)
Management interviews and/or workshops
Investments to Build Value
Investments to Lower Costs
or Create Efficiency
Divestment in Value
Destruction
Reduce Capital Cost
Growth Drivers
Cost Drivers
Financial Drivers
Value Driver Options
Improved
Value
The Business WorkShop Inc.™ 2008 Confidential – Do not copy .
Value Drivers – Example
1. Science Based
Company Mission
Share w Peers
Share w Media
Science backed
Creates barrier to competition
Leveragable in marketing
Allows Price Premium (profitable)
Value Driver Application How Value is Created
ValueDriver
Application How Value is Created
Value Rank (judged)
SalesImpact (Time
Period)
Cost –Direct
and Indirect (Time
Period)
Value Created (Time
Period)
Performance Rating (based
on valuecreated)
Comments Implications to Strategies (against
issue)
Strategic Options based on Value
Drivers
Science Based •Company mission•Proof•Share w Peers•Share w Media•science backed
•Creates barrier to competition•Leveragable in marketing•Allows Price Premium (profitable)
1 4 Add new, unique claim and back up claim with science, proprietary science where
possible
Marketing Value Drivers – Example Template
The Business WorkShop Inc.™ 2008 Confidential – Do not copy .
Strategic Scenario Analysis35
Generating strategic options is one
thing……
Choosing the BEST option is entirely
different
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Issue: New Product Launch Alternatives
Assumption Inputs NPD1 NPD2 NPD3 NPD4 NPD5
Share Increase - Pts 5 4 0 4 0
Market Decrease - % 50 50 0 25 0
Cannibalization - % 35 35 0 35 0
Distribution - % 0 0 0 0 30
HH Penetration % 0 20 0 20 0
Current 2007 NPD1 NPD2 NPD3 NPD4 NPD5
Sales $47,434 $46,967 $45,201 $47,434 $47,832 $44,518
Gross Profit - % 79.0% 79.0% 79.0% 79.0% 79.0% 79.0%
Gross Profit - $ $41,822 $41,411 $39,857 $41,822 $42,172 $39,518
GP Difference -$411 -$1,965 $0 $350 -$2,304
Scenario Impact Analysis - 1 year Impact
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2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Total
NPD1 $47,434 $47,434 $40,234 $38,724 $38,724 $35,774 $33,403 $33,403 $33,403 $33,403 $381,936
1 2 4 3
NPD2 $47,434 $44,484 $37,284 $35,774 $34,265 $31,315 $28,943 $22,943 $22,943 $22,943 $328,328
4 1 2 2 4 3 5
NPD3 $47,434 $47,434 $40,234 $40,234 $40,234 $37,284 $34,912 $34,912 $34,912 $34,912 $392,503
1 4 3
NPD4 $47,434 $47,434 $40,234 $38,724 $38,724 $35,774 $33,403 $33,403 $33,403 $33,403 $381,936
1 2 4 3
NPD5 $44,518 $44,518 $44,518 $44,518 $44,518 $44,518 $44,518 $37,318 $37,318 $37,318 $423,577
1
1 2 3 4 5 6
Action Comp Launch CL Next Generation Price Decrease Cost Increase Endorse
Impact 90% 20% 5% 50% 50%
Ten Year View of Financial Analysis
The Business WorkShop Inc.™ 2008 Confidential – Do not copy .
More About The Business Workshop Inc.
Senior Marketing Practitioners
Experts on Health Care, Self Care, and Women's Health
Internationally published study on Women's health
Internationally published articles on Self Care
Focus of 20 years of marketing service
Senior Marketing roles with P&G, Novartis, Warner Lambert
Strategic Development work with J&J, Nycomed, Pfizer, GSK, CVT, Ryvita, Uncle Bens, etc
Partnership with Prof. Robert Shaw , Value Based Forum, UK - based Organization
Global Network Partner, Nicholas Hall & Company
We build economic value.
Our Marketing for value™ philosophy enables the right strategic decisions for a better financial future.
We discover and leverage opportunities in Self Care.
The Business WorkShop Inc.™ 2008 Confidential – Do not copy .
W E B U I L D E C O N O M I C VA L U E .
O U R M A R K E T I N G F O R VA L U E ™ P H I L O S O P H Y E N A B L E S T H E R I G H T S T R AT E G I C D E C I S I O N S F O R A B E T T E R
F I N A N C I A L F U T U R E .
Our Mission
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The Business WorkShop Inc.™ 2008 Confidential – Do not copy .
G R A C E @ T H E - B U S I N E S S - W O R K S H O P. C O M
B O B @ T H E - B U S I N E S S - W O R K S H O P. C O M
9 0 5 . 3 1 5 . 5 0 4 4
T H E - B U S I N E S S - W O R K S H O P. C O M
4 1 4 5 N O R T H S E R V I C E R O A D
B U R L I N G T O N , O N L 7 L 6 A 3
THE BUSINESS WORKSHOP INC.40