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Insight

Build an Unsinkable Boat: Branding for the Bold

 

At MedEngine, we believe that a company’s brand should be bold, distinct, and capable—like a boat. There are many types of boats, of course, so the question is really about which waters you plan to sail.

And that boat should be vastly different from the competition’s. Think: Do the sails catch more wind? Does the boat have a great name? Is it easier to sail than others? Does the company produce thousands of them at a low cost, or are they one-of-a-kind works of elite craftsmanship?

Every boat-builder needs a story. Now how do you tell it?

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Dissent Among the Ranks

Nautical trends have changed a lot over the years, and so has branding, which is complicated and full of disagreement. Take, for example, some of the ways marketers define the act of branding:

“Branding gives products and services permission to be important in the lives of customers, therefore making them more meaningful to your target audience.”

“Branding is the business of finding and celebrating the most interesting truth about a good or service in a way that the world won’t hate.”

“Branding is the process in which the black box of creativity is rendered safe for the risk-adverse.”

“Branding is a visible representation of our invisible desire to self actualize.”

Branding has less to do with ‘truth’ and more to do with research and thoughtful strategizing. If planned poorly, a boat won’t suit its conditions. And if it’s not built with skill and passion, the sailors and captain won’t want to take it out to sea, even if you give it a great name, like Wave Smasher 5000.

The same goes for a brand: its name and logo are not nearly as important as the force behind it. If the mission of the company and the people doing the work do not support the brand completely, the brand is meaningless.

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Know the Ropes

A brand is simply the personality of your company. It’s your company’s story. It doesn’t have to be more complex than that. Like a boat, it is built from the bottom to the top, with purpose and a mission.

“Branding is terrific storytelling. Creating a mark on the consumer’s psyche that motivates him/her to choose one thing over another.”

The good thing about boats is that they can be improved upon. At MedEngine we revisit our own materials and messaging and how we conceptualize our own work. It’s a process that’s essential in ensuring that a brand survives. Indeed, it is something you must revisit often during the lifespan of your company if you aim to stay afloat.

What is your company’s story? If you don’t know, or need help figuring it out, give us a call. We’ll show you our boat.

Real-world data and real-world evidence (RWE) are increasingly being used to support clinical decision-making across the entire healthcare value chain. The wider adoption of value-based medicine and accelerated development of novel treatment options are anticipated to further raise the demand for evidence generation from real-world healthcare settings in the future.

To evaluate the current status and future prospects of RWD research in Finland, the Pharma Industry Research Foundation assigned MedEngine to conduct a qualitative survey among Finnish professionals from the pharmaceutical, health technology, and healthcare industries. The results are based on 20 personal interviews conducted in June-September of 2018, and an online survey performed by Pharma Industry Finland (PIF) in Spring 2018.

Real-world data and real-world evidence are increasingly being used to support clinical decision-making across the entire healthcare value chain.

Based on the survey, the Finnish research landscape has several competitive advantages for first-rate RWD research: a top-quality and uniform healthcare system, unique registry and biobank data which can be combined using the Finnish personal identity code,and long-traditions in biomedical research. Shared goals by different stakeholders and policy promoting the collection and utilization of real-world data was seen as a clear asset in Finland.

However, survey results also clearly highlighted that fully utilizing the potential of Finnish RWD requires concrete actions by multiple stakeholders. Finalizing the legislative act on secondary use of health and social data and establishing a single point of access for data were seen as the most crucial measures. Improving data sources (e.g. functional lakes of primary and secondary data with nationwide coverage and clinical quality registries) and data quality were also widely accepted as important development areas.

In addition to improving data accessibility and usability, Finland has to ensure the presence of professional expertise and resources; more RWE-focused data scientists having extensive experience with health data are needed for expanding the use of Finnish RWD. Better understanding of the strategies and needs of pharmaceutical industry globally is essential for attracting international investments.

The importance of RWE, and the global RWE market as a result, will increase significantly in the future. Although the survey pointed out that the market for RWE research is currently relatively small in Finland, it holds promise for significant commercial value in the future. Byfocusing on core competencies and actively promoting and developing RWD capabilities, Finland can attract significant international investments. At the same time, RWE activity helps Finland stay at the forefront of medical research and maintain its high quality of healthcare.

Read more: The Current Status and Future Prospects for Real-World Data Research in Finland: A Qualitative Survey

MedEngine

MedEngine

MedEngine bridges medical science with business. We provide our customers with the science-based tools, knowledge, and support they need to thrive in their global marketplace. Our adept team combines academic expertise with industry know-how and creative flair. Insight, zest, and attention to detail are our strongest assets, and we move nimbly from endeavor to endeavor—be it a multi-year research project, scientific advisory for a medical education program, or conceptualization for a health-tech startup. With every project our project managers apply the highest scientific standards and creativity to build something that inspires. We consider ourselves the luckiest bunch of scientists ever!