As we are preparing to sponsor CBI's 4th Annual Forum on Oncology Commercialization Strategies in Philadelphia next week (January 20-21), we have been giving consideration to this question: "How can you maximize the success of a new oncology product?" There are as many answers to that question as snowflakes that fell on NYC yesterday.
One thing for certain is this: Identity development can boost the success of oncology products in three important ways. First, let's be clear on what identity development is and isn't. Identity is the powerful amalgam of strategy and design that creates the consistent, cohesive, and relevant experience of a product (or a company, if we're talking corporate identity). Identity is not an advertisement or a marketing initiative. Ads and marketing initiatives are examples of "branding" -- the process of applying a strong brand identity to communications channels of various types.
Identity development: provides the objective and convincing evidence of the value of the new product and the company's ability to commercialize it; embodies an immediately recognizable, distinctive, professional image that positions the new produt for success; and projects the new product's image with laser-like focus across communications channels, increaing the ROI of all marketing and communications efforts.
With identity representing at least 25% of the perceived value of a product, identity development is therefore essential to every successful oncology commercialization plan.
If any of you are in Philly next week and are attending the CBI Forum, do please stop by Guard Dog Brand Development's exhibit so we can discuss the science of brand development together. We'd love to hear your impressions on this topic.