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Pharmaceutical Re Launch: Transforming Lackluster Pharmaceutical Products Into

Pharmaceutical Re Launch: Transforming Lackluster Pharmaceutical Products Into

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Published by Giovanny Leon
Re-launching a pharmaceutical
product is a difficult but often
unavoidable scenario that many product managers must face. This report contains the insights and wisdom of 19 pharmaceutical brand leaders across more 14 leading companies.
BenchmarkingReports.com is a service of Best Practices, LLC, the world leader in benchmarking. BenchmarkingReports.com offers you
the knowledge from our primary research at a fraction of the project’s cost.
Re-launching a pharmaceutical
product is a difficult but often
unavoidable scenario that many product managers must face. This report contains the insights and wisdom of 19 pharmaceutical brand leaders across more 14 leading companies.
BenchmarkingReports.com is a service of Best Practices, LLC, the world leader in benchmarking. BenchmarkingReports.com offers you
the knowledge from our primary research at a fraction of the project’s cost.

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Published by: Giovanny Leon on Nov 15, 2010
Copyright:Attribution Non-commercial

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03/02/2013

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Product Re-Launch Excellence: Transforming Lackluster Pharmaceutical Products Into Market Success Stories
CopyrightBest Practices, LLC(919) 403-0251
1
 
Product Re-Launch Excellence:
Transforming Lackluster Pharmaceutical Products IntoMarket Success Stories
 
 A 
BOUT
B
ENCHMARKING
EPORTS
.
COM
 
BenchmarkingReports.com is a service of Best Practices, LLC, theworld leader in benchmarking. BenchmarkingReports.com offers youthe knowledge from our primary research at a fraction of the project'scost.Best Practices, LLC has conducted cutting-edge benchmarkingresearch for top companies since 1991. Our corporate motto is "Accessand Intelligence for Achieving World-Class Excellence." Let us helpyou find solutions to your current business issues today! Visit our siteatwww.best-in-class.com.
S
TUDY 
B
 ACKGROUND
 
Re-launching a pharmaceutical product is a marketing challenge thatno brand executive wants to face, but many often do. In somesituations, a product might experience a line extension or reformulation. However, in other cases, sales of products may havesuffered because of a miscalculation in launch strategy. With millionsof dollars poured into the development and marketing of products,companies are loathe to give up their initial investment, but they alsoare hesitant to waste further resources to correct mistakes.The hallmark of great brand and lifecycle management is the ability toidentify mistakes leading to sluggish sales, make the business case for re-launch, and develop and execute strategy that transforms lackluster market performance into a sales success.
 
Benchmarking Reportat-a-Glance
Featured Survey Organizations
Abbott Laboratories
AstraZeneca
Aventis
Bayer Biologics
Baxter Healthcare
DSM Pharmaceuticals
Eli Lilly
GlaxoSmithKline
Merck 
 Novartis
Pfizer 
Roche
Schering AG
UCB Pharma
Industry Analysis
Re-launching a pharmaceutical product is a difficult but oftenunavoidable scenario thatmany product managers mustface. This report contains theinsights and wisdom of 19 pharmaceutical brand leadersacross more 14 leadingcompanies.
Information Types
492 Metrics
20 Information Graphics
33 Data Graphics
36 Manager Narratives
50 Practices
2 Case Studies
 
Product Re-Launch Excellence: Transforming Lackluster Pharmaceutical Products Into Market Success Stories
CopyrightBest Practices, LLC(919) 403-0251
2
 
S
TUDY 
S
UMMARY 
 
Product Re-Launch Excellence: Transforming Lackluster Pharmaceutical Products Into MarketSuccess Stories (SM-170)
 benchmarks the perspectives of 19 brand leaders from a class of 14 top pharmaceutical companies. After reading this report and studying the data from survey participants and benchmark partners, executives will gain the insights necessary to set re-launch strategy, re-define brandcharacter, invigorate sales support and set the optimal investment level. After identifying areas for improvement, your organization can close performance gaps in re-launching products and employchanges that will support and sustain change in your organization.
EY 
F
INDINGS
 
The following are select key findings from the report executive summary. Additional findings areavailable in the report.
1. Sales force strategy needs to fit the re-launch approach and scope to place resources where theywill make a difference.
Invigorated sales force support is crucial to the success of any re-launch effort. Yet, determining precisely what changes are needed for the sales force to be effective will depend on the reasons for re-launch, the magnitude of the improvements forecasted, the market issues confounding the brand, and atwhat point the sales trajectory flattened in the original launch. Field force adjustment tactics must fit the product team’s strategy to re-position or re-focus the brand. In some circumstances, the key to successmay lie in expanding sales resources. In other instances, sales force effectiveness may lie in enhancedtraining.
2. Product re-launch success requires the coordination of multiple factors – first of which isdetermining the marketing resources required to carry out the re-launch strategy.
Companies frequently struggle with what sort of marketing and sales investment they need to make toachieve the desired corporate hurdle rates. In particular, when the initial-launch sales uptake curve has been lackluster, brand teams are challenged to make a compelling business case for significant newresources. But that is exactly what they must do.Knowledgeable brand leaders identified the requisite organizational support, buy-in, and alignment thatthey need in order to build the case for the re-launch. In this way, companies pave the way for approvalof sufficient investment dollars and resources that enable all the other critical factors required for asuccessful product re-launch.
3. Shape a new core message that serves as the catalyst for the revised product positioning.
 
Product Re-Launch Excellence: Transforming Lackluster Pharmaceutical Products Into Market Success Stories
CopyrightBest Practices, LLC(919) 403-0251
3
 
Underlying every successful product re-launch is a core message that supports and enforces the re-defined brand character. Savvy brand leaders clarify and revise messaging at re-launch to emphasize the product’s strongest new features or most viable new markets. Successful core message changes in thisstudy are most frequently based upon product efficacy, improved quality of patient life or new population groups that could benefit from using a drug.
EPORT
S
TRUCTURE AND
O
RGANIZATION
 
The project findings are organized into this executive summary, a survey analysis section, profiles of select benchmark companies, a series of best practices chapters, and a lessons learned & top challengesmatrix.
Executive Summary – 
This executive summary contains a project overview and a summary of projectfindings and recommendations.
Setting Re-Launch Strategy–– 
Detailed practices in this section describe on how brand leaders can build the case for re-launching a product to company executives and devise the optimal strategy for maximum success.
Re-defining Product Character–– 
This chapter explores the strategies and tactics used by seasoned brand veterans to re-introduce a pharmaceutical product to physicians and thought leaders in a way thatgenerates excitement and support.
Winning the Hearts and Minds of the Sales Organization to the Re-Launch – 
Generating theenthusiasm and commitment of the sales team is focus of this chapter, which offers insights and lessonslearned from brand leaders.
Marketing Investment Level – 
Survey data on optimal investment levels and marketing mix is presented and analyzed.
Case Studies – 
This section examines the success stories of two re-launched drugs: Zithromax andWellbutrin.
Lessons Learned – 
This table captures several summary lessons learned during the planning andexecution of staffing processes and top challenges to maintaining a world-class recruiting system

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