In the 1980s, Nike was trailing far behind other brands in sportswear. Then they saw potential in basketball, a sport dominated by their rivals, trailblazed by top stars that signed sponsorship agreements with the likes of Converse and Adidas (who doesn’t remember Kareem, Magic, or Larry?).
Nike saw an opportunity: they decided to focus on basketball and to partner with an upcoming star to grow their business. They signed Michael Jordan, a rising star in his drafting year, with an exceptional package for its time. The rest is history. Today, courts are filled with “Air,” and Nike owns 80%+ of the basketball shoe market, not to mention all the halo effect on other segments and apparel they make since that historic decision 40 years ago.
When I speak with life sciences companies—pharma in particular, both small and large—they all share ambitious growth plans. But most focus on their well-established portfolios and traditional markets, competing for market share in familiar territory. Some venture into international expansion without the necessary expertise or networks, encountering significant challenges or falling victim to poorly chosen market entry strategies.
I suggest looking beyond that. Challenges are many, but so are markets around the world. Once you make the decision to go outside your familiar markets, the big question becomes: Where’s your next big court, and what’s your winning play?
This is one of the reasons I founded Advizeum Lifesciences—to provide life sciences companies with the strategies, tools, and partnerships needed to target and succeed in new potential markets.
There are many countries with various market typologies around the world, which offer great opportunities for growth to pharma companies with the right portfolio of products, a suitable go-to-market (GTM) model, the right access competencies, and, finally, a competent, fit-for-purpose partner.
And best of all: For every new market we serve, we’ll be helping patients with new health solutions, taking another step towards improving public health.
Now, ask yourself this question:
For International Markets Expansion, What is your Game, and Who is Your Jordan?
