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Best Practices in Launch Optimization: How Promotional Efficiency can be Leveraged to Support Multiple Products & Indications

      
      

Features:
 34 Info Graphics
 39 Data Graphics
 675+ Metrics
 23 Narratives
 8 Best Practices

Pages: 85

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Best Practices in Launch Optimization: How Promotional Efficiency can be Leveraged to Support Multiple Products & Indications

ID: PSM-293

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In today’s marketplace, launching multiple products for a common therapeutic area is both resource-intensive and strategically challenging. Managing similar products or an integrated product portfolio is a complex balancing act for bio-pharmaceutical companies — especially those that want to reduce the costliness of launching and promoting multiple products simultaneously. Maximizing the potential of each product requires well-crafted Sales alignment and improved access and reputation.

Best Practices, LLC conducted this benchmarking study to identify evidence-based benchmarks on the pros and cons of managing multiple products via a franchise approach. The study focused on uncovering proven tactics for efficiently deploying Sales and Marketing resources to reduce the costliness of launching and promoting multiple products simultaneously.

Research findings can serve as a reference point for portfolio managers to most efficiently manage multiple products and indications in the same therapeutic area.
Industries Profiled:
Consumer Products; Diagnostic; Pharmaceutical; Medical Device; Biopharmaceutical; Health Care; Biotech; Market Research; Utilities; Chemical; Clinical Research; Laboratories

Companies Profiled:
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

Study Snapshot

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

Key Findings

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.

Table of Contents


Executive Summary
  • Level 2: Gaining Efficiencies & Boosting Productivity Levels
  • Level 3: Growing the Top-Line
  • Level 4: Enhancing Corporate Reputation
  • Critical Franchise Risk Points
  • Appendix: Participant Demographic Data

List of Charts & Exhibits

Operational areas that benefit from managing similar products as part of an integrated product franchise
  • Operational areas that have achieved significant cost savings as a result of leveraging resources
  • Rate effectiveness of combining resources for specific franchise sales tactics
  • Sales areas where redundancy can be removed by combining promotional resources
  • Top three lessons learned in removing sales redundancies
  • Rate effectiveness of combining resources for specific marketing services that promote multiple indications
  • Successful Franchise Benefits as a Result of Managing Similar Products as Part of an Integrated Product Franchise
  • Effectiveness of Combining and Leveraging Resources for Efficient Customer Targeting When Promoting Multiple Similar Products in the Same Therapeutic Area
  • Best Approaches for Reducing Internal Competition Among Sales Representatives Working in Common Hospitals or Territories
  • Change in Sales Territory Alignment as a Result of an Integrated Approach to Portfolio or Franchise Promotion
  • Effectiveness of Combining Resources for the SFE Tactics When Promoting Multiple Similar Products in the Same Therapeutic Area
  • Aligning Reps Inside the Franchise Through Incentives
  • Sales Territory Alignment to Maximize Efficiency
  • Effectiveness of Sales Performance Metrics Within an Integrated Product Portfolio or Franchise
  • Top Lessons Learned for Efficiently Launching & Promoting Multiple Similar Products
  • Role Different Groups Play in Managing an Integrated Product Portfolio
  • Effectiveness of Combining and Leveraging Resources for Digital Marketing Services to Promote Multiple Indications / Products in the Same Therapeutic Area
  • Effectiveness of Combining and Leveraging Resources for Different Managed Markets Services to Promote Multiple Indications / Products in the Same Therapeutic Area
  • Critical Franchise Management Pitfalls When Leveraging Resources to Serve an Integrated Product Franchise
  • Product franchise type/profile
  • Risk Assessment of Stumbling or Mishandling Multiple Launches (oducts or New Indications) When They Occur In Short Proximity Within the Same Sales Force
  • Importance of Different Objectives that Led to Pooling Resources and Integrating Processes for Supporting and Promoting Multiple Similar Products
  • Effectiveness of Combining and Leveraging Resources for Efficient Sales Training When Promoting Multiple Similar Products in the Same Therapeutic Area
  • Effectiveness of Combining and Leveraging Resources for Efficient Sales Samples & Collateral Management When Promoting Multiple Similar Products in the Same Therapeutic Area
  • Resource Efficiency of the Common Methods for Adding More Overall Field Sales Reps to Cover the Launch of Multiple Similar Products
  • Effectiveness of Combining and Leveraging Resources for Sales Management & Analytical Resources When Promoting Multiple Similar Products in the Same Therapeutic Area
  • Number of People Managed at Each Level of Sales Organization Serving Multi-Product Portfolio
  • Biggest Sales Force Pitfalls: that Can Cause an Organization to Stumble When Operating in an Integrated Portfolio of Similar Products
  • Top Lessons Learned for Efficiently Launching & Promoting Multiple Similar Products
  • Overall Effectiveness of Using One Brand Team to Manage Multiple Products/Indications
  • Brand Team Structure Used for Multiple Products/Indications
  • Effectiveness of Using Centers of Excellence to Enhance Resource Efficiency
  • Effectiveness of Combining Physician and Patient Education Resources for Multiple Products for Thought Leader Management
  • Effectiveness of Combining Physician and Patient Education Resources for Multiple Products for Patient Support Service

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