Case Study: Princeton Brand Econometrics Turns to PCN® To Assess Millions of Rx Marketing Scenarios on Demanding Schedule for New Product Launch

Background

Founded in 1991, Princeton Brand Econometrics (PBE) provides highly accurate forecasting and risk assessment of marketing scenarios to major pharmaceutical manufacturers and other companies. "Our health care clients rely on us to inform high-value strategic and tactical decisions," explains PBE's CEO, Cory Davis. "We help them understand what the results would be if they launched a product with a certain combination of message elements, or whether they should invest in additional sets of drug trials that would allow them to make additional claims. At times, our studies address millions – even billions – of forecast scenarios."

To conduct complex, quick-turnaround surveys of hard-to-reach specialists, PCPs, and other health care professionals, PBE relies on Physicians Consulting Network (PCN®), which is managed and utilized by a dedicated team of senior-level researchers. "PCN's ability to customize the work that they do on a project-by-project basis assures that their results will be of greatest use to us," Davis says. "They are exceptional when it comes to delivering unique fielding solutions for challenging problems."

Challenge

Recently, a major Rx manufacturer asked PBE to predict the potential success of a new CNS (central nervous system) medication that was facing established competition in treating a common psychiatric disorder. Because of a variety of potential launch messages, timelines, and indications, the questionnaire and study design were particularly complex; overall the study involved 5 trillion scenarios - but the runway that the client gave PBE was less than three weeks.

The PCN study would gauge potential acceptance of the drug among a robust sample of high-writing psychiatrists and PCPs, and others. PCN's team had a challenging timeline to take the survey from complex questionnaire programming to completed field work; and PBE needed to see daily reports beginning with the first day in field.

"Getting the quickest timing possible is a constant challenge in our work," Davis explains, "and it's an area where PCN® excels. The initial programming happens faster, and PCN provides one of the best first passes you're going to find."

PCN solutions

To speed the project along, PCN developed an application that allowed the PBE and PCN teams to test, edit, and track questionnaire changes simultaneously from different locations. Once scripting was complete and the survey was in the field, PBE was able to see data from 15% of the quota within 24 hours. In the end, PCN achieved a 28% response rate among high-writing psychiatrists and others, and the final data were delivered ahead of schedule.

Outcomes

Using the data from the PCN survey, PBE was able to accurately determine how strong future competitors in the drug's market would be, and what ROI the client would gain by pursuing certain lifecycle indications as part of their initial launch and help them determine whether or not those were worth pursuing. "Because PCN could accommodate a more complex design, we also were able to quantify the off-label usage our client would achieve," Davis recalls, "and show them the extent to which it may or may not be worth investing in an additional indication." All of these elements helped the client decide what to bring to market and how much to invest in it.

"The PCN team enables us to deliver the sophistication, thoroughness, and speed that set PBE apart in the field," Davis says. "PCN has been a valued partner behind some of our most successful and complicated projects - and I would certainly count this among them."

Cory Davis is CEO of Princeton Brand Econometrics and can be reached at c.davis@pbeco.com.

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