Closing Statement (one sided – Eli Lilly) (Pfizer's Exubera Mini-case and Afterword on Eli Lilly can be added next week) Lessons Learned
What have we learn from both Eli Lilly and Company and Pfizer's Exubera Mini-case? Should Adams’, R., “A Good Hard Kick in the Ass” be our model? First Lesson Learned: Shifting the Basis of Competition – Develop a Sense of Pain While other businesses are constantly developing and introducing new products and/or services, along with making incremental progresses to existing ones, Eli Lily and Company refused to play on a static competitive space. Adams, discussion of a customer pain, proposes that Eli Lily and Company should put themselves in the shoes of their potential customers to develop a sense of their pain (Adams, R., 2002). If Eli Lily and Company based their decisions on Adams model they could then obtain the knowledge necessary to release products that are of high customer demand. Eli Lily and Company should be watching for wicked, brutal, vicious, hideous pain amongst potentials, the type of pain that makes people want to fix their situation immediately as stated by Adams. Eli Lily and Company must ascend their market validation pyramid by practicing following Adam’s step by step model: It is essential that Eli Lilly lay down the groundwork by verifying the pain around the problem, to include probable market, and using secondary research (i.e., analyst reports, the industry press, and the internet) in order to discover market size, market data, and the direction of market trends. Phases to consider:
First Phase: Discover the pain. Use questionnaires to do quantified market research which will in turn uncover the targeted market. Next: * Implement customer interviews to locate the greatest pain * Generate a heat map to visually represent where the worst pain lies * Spawn several hypotheses about targeted markets
Second Phase: Visualize the result. Experiment with the...
Please join StudyMode to read the full document