Creating a Road Map for Successful Cardiovascular New Product Launch
CHAPEL HILL, N.C., Nov. 7, 2014 /PRNewswire/ -- While some newly-developed bio-pharmaceutical products thrive upon launch, many more struggle in today's crowded, competitive marketplace. In order to differentiate the treatment benefits of their products, it is critical for companies to think strategically about clinical and scientific thought leaders, targeting and engaging those who often serve as the gatekeepers to a product's acceptance in the medical community.
According to research by benchmarking firm, Best Practices, LLC, thought leader engagement remains key to driving a successful launch across all therapeutic areas. However, relationship strategies need to be tailored to a therapeutic area to be most effective. Also, identifying the right key opinion leaders to support a scientific platform is critical for successful launches.
The related report, "Success Factors and Failure Points in Cardiovascular Product Launches," answers critical questions around successful market entry planning. The research also provides insights to a critical core set of functions and activities during product launch, such as engagement of thought leaders and education of key stakeholders.
Topics covered in this study include:
- Winning on Differentiated Product Positioning
- Winning a Physician's Initial Trial of a New Product
- Articulating Benefits that Shape Positive Market Perception
- New Product Pricing Strategy
- Thought Leader Engagement
- Early Physician Education
- Payer Education
- Patient Advocacy and Education
- Preparing Market Constituents
- Access Insights & Success Factors
- Winning Hospital Formulary Access
- Resource Allocation for Key Stakeholders
- Investment Requirements, Resource Allocation & Timing
- Internal Launch Readiness
- New Technologies for Informing Patients and Physicians
- Pitfalls and Stumbling Blocks
- Demonstrating Efficacy
- Rating Different Safety Dimensions
This 182-page report presents launch leaders' perspectives on the current and future risk levels for an array of pitfall factors that can affect a new product launch. In all, 44 managers and executives at 38 leading bio-pharma companies participated in the survey.
To access the full report, or to download a complimentary summary containing insights found in this report, click on the following link: http://www.best-in-class.com/re1696.htm.
For more information on other recent primary research studies, contact us at 919.403.0251. For related research, visit our Best Practices, LLC website at http://www.best-in-class.com/.
ABOUT BEST PRACTICES, LLC
Best Practices, LLC is a leading benchmarking, consulting and advisory services firm serving biopharmaceutical and medical device companies worldwide. Best Practices, LLC's clients include all the top 10 and 48 of the top 50 global healthcare companies. The firm conducts primary research and consulting using its comprehensive proprietary benchmarking tools and analysis. The operational insights, findings and analysis form the basis for our Benchmarking Reports, databases and advisory services to support executives in commercial and R&D operations. Best Practices, LLC believes in the profound principle that organizations can chart a course to superior economic performance by studying the best business practices, operating tactics and winning strategies of world-class companies.