OnDemand WTP Pricing Research

Behind the scenes of Lilly’s ad referencing pricing | Medical Marketing and Media

In the wake of the release of the first drug ads that reference price information – spots for diabetes treatment Trulicity – Eli Lilly explained the thinking that went into its choices, which include directing consumers to a website and toll-free phone number.

Lina Shields, chief media officer of Lilly USA, said the company conducted extensive market research about consumer preferences vis-a-vis pricing information. “We were already, as a company, trying to learn from consumers. First, we were trying to understand the unmet need by asking what do they really want to know about the price and what their understanding would be,” she said.

That research, Shields added, informed everything from the best way to break down the price to placement of the website and phone number in the TV ad. By the end of February, the company said in a blog post, it will make price information available for all drugs it advertises on TV. It noted that it will disclose this information for all other medicines, advertised or not, in the months ahead.

Shields said the company arrived at the conclusion that patients wanted both more and more personalized information. By way of example, she noted a patient on private insurance doesn’t need to know the price a Medicare recipient will pay.

Read complete article here:

Behind the scenes of Lilly’s ad referencing pricing – News – MM&M – Medical Marketing and Media.