Role of Knowledge marketing is a process whereby companies identify, store, share, and reuse their own data, external information and most important the business knowledge and experience of employees. Knowledge management is not just about technology, but also about implementing new business processes. It’s a fast-paced marketplace out there for pharmaceutical, biotech and medical device companies. Keeping up with the pace of change is a constant battle, but having an efficient knowledge management system in place can give you a head start.
Corporations have invested billions of dollars in establishing processes and implementing technologies that enable them to leverage corporate information while avoiding its loss. An obvious danger is that key professional and technical staff may retire or leave for greener pastures, taking with them the knowledge and business information stored in their brains. In a survey by recruitment firm Robert Half International, 55 percent of executives polled said their companies were concerned about losing key staff to retirement in the next five to 10 years. In addition, 78 percent reported that their companies were taking steps to mitigate the effect of the loss of these employees. Some companies forestall the problem by retaining would-be retirees as consultants or part-timers. However, a more permanent solution is to invest in technology that fosters and helps automate the knowledge management process.
When brands are highly commoditized and the perceived product differences no longer exist (or are small), then price becomes an important factor. When you understand this, you can see how generics can come straight in and claim a large share of the market. In fact, in Pharmaceutical markets that have become highly commoditized, where the product itself has little intrinsic value (e.g. G-CSF and the epoietins), biosimilars were able to have highly successful uptake. On the other hand, in other categories where the product value proposition was seen as higher (e.g. somatropin) and the products were more highly differentiated, the biosimilars were not able to achieve the same level of success.
