Consumer Products; Diagnostic; Pharmaceutical; Medical Device; Biopharmaceutical; Health Care; Biotech; Market Research; Utilities; Chemical
Bayer Healthcare; Shionogi Inc.; Roche Diagnostics; Mylan; GlaxoSmithKline ; Drager; CareFusion; B.Braun; Astellas; Entelos; Alcon; Siren Interactive; AstraZeneca; Nonin; Menarini Group; Hikma; Novartis; Nico ; Lupin; Centurion; Covidien; Galpha Laboratories; Catalent Pharma Solutions; Genentech; Almirall; Abbott; Sandoz; Johnson & Johnson; Dr Reddy's Laboratories; Merck; Meda Pharmaceuticals; Sanofi; Amylin; Teva Pharmaceutical Industries Ltd; Glenmark; Boehringer Ingelheim; Wockhardt; Novo Nordisk; Ranbaxy; Daiichi Pharmaceutical Co.; Ltd.; Roche; Baxter Healthcare; Medtronic; Shire; UCB Pharma; Stryker; Gilead Sciences; Biogen Idec; Boston Scientific; Zydus Cadila; Janssen; cipla
Best Practices, LLC engaged 65 Sales, Marketing, and Commercial leaders from 52 leading healthcare companies through a benchmarking survey instrument to collect quantitative data and qualitative insights.
Topics addressed in this report 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 Indication
- Optimal Brand Team Approaches for Product Franchise
Franchises Are Highly Successful in Driving SFE, Credibility, Access, & Lower Promotional Costs: 62%of companies have been highly successful in increasing SFE, and a majority has had strong success in bolstering rep/company credibility and improved access to physicians. Almost 90% of research partners rated “enhanced sales for all products” and “greater therapeutic area market share” as modest franchise successes.
Multiple Launches within a Six-Month Period Create High Risk for Stumbling: Benchmark partners observe that the risk of launch failures expands exponentially when multiple launches occur within a 3-6 month period. For example, the aggregate high risk of launch stumbling drops from 83% when launching multiple products in the same quarter to 10% when launching multiple products within 12 months of each other.
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. Market Research was also deemed particularly effective for Primary Care products. Conversely, as much as 40% of respondents deemed the use of CoEs either ineffective or not in use for supporting franchise Marketing efforts, whether for traditional or digital Marketing. This underscores that CoE’s are not a productivity panacea and require disciplined management.