Utilizing a Franchise Approach to Efficiently Support Multiple Products & Indications
CHAPEL HILL, N.C., April 3, 2015 /PRNewswire/ -- Launching and growing multiple products for the same therapeutic area is a balancing act that many biopharmaceutical companies are being faced with today. In addition, there are many pros and cons associated with managing multiple products by utilizing a franchise approach.
Recent research by benchmarking firm, Best Practices, LLC found that franchises rely heavily on Centers of Excellences to distribute expertise across products, especially in high-impact areas. Overall, more than 75% of franchises currently use Centers of Excellence for some facet of franchise support. The most effective CoE support involves injecting critical expertise into such areas as Med Ed, SFE, Thought Leader Management, Training, and Customer Targeting.
The related report, "Best Practices in Launch Optimization: How Promotional Efficiency can be Leveraged to Support Multiple Products & Indications," provides leaders with a mix of qualitative and quantitative data that examines how and where to reduce costs, gain efficiencies, grow the top-line, and build a long-term reputation as a therapeutic area leader.
Key study topic areas examined include:
- Managing Similar Products or an Integrated Product Portfolio
- Optimizing Sales Resources within Franchise Operations
- Leveraging Resources for:
- Sales Force Alignment & Training
- Sales Samples & Collateral Management
- Efficient Customer Targeting
- Better Territory Alignment
- Sales Force Effectiveness & Span of Control
- Sales Management & Analytics
- Combining Resources for Efficiently Marketing Multiple Products with Similar Indications
- Optimal Brand Team Approaches for Product Franchise
- Content most /least often included in formal Sales Training curriculum
This benchmarking research drew participation from sixty-five Sales, Marketing, and Commercial leaders at more than fifty companies through a benchmarking survey instrument.
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/rr1344.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.