Non-members: Click here to review a complimentary excerpt from "Resource Allocation and Launch Readiness Factors that Shape a Strong Market Entry: Stakeholder Allocations, Investment Levels and Resource Levels Across Launch Functions"
One of the more difficult aspects of planning a new product launch is balancing the different resource and investment allocations that are needed to prepare the marketplace for a new product. In particular, organizations wrestle with allocating the appropriate resources for informing key stakeholders as well as other critical launch activities that are carried out across different functional areas.
This Best Practices, LLC study reviews key resource and investment benchmarks regarding a new product launch, such as percentage of resources for educating stakeholder groups, investment requirements for entering a competitive marketplace, and rating the importance of using launch resources for key activities carried out across different groups such as R&D, Medical Affairs, Marketing, Sales, and Supply Chain. In addition, the study also looks at current and future trends in resource allocation. Executives and managers in product launch groups can use this study to compare their current launch resource and allocation approaches with those at leading companies.
- Resource Allocation for Key Stakeholders in the Current & Future Marketplaces
- Investment Requirements, Resource Allocation & Timing
- Internal Launch Readiness
- Percentage of resources allocated for education activities targeting key stakeholder groups, current and future
- Level of investment required for a new product to successfully enter a crowded marketplace
- Percentage of market preparation investment allocated for key constituencies during three periods leading up to launch
- Level of importance of different Clinical Operations/ R&D resources/approaches for successful new product entry
- Importance of different medical affairs resources/approaches for successful new product entry
- Importance of different marketing resources/approaches for successful new product entry
- Importance of different sales resources/approaches for successful new product entry
- Importance of different supply chain/technical support resources/approaches for successful new product entry
SAMPLE KEY FINDINGS
- Market Entry Requires Investing At and Above Market Leader Levels To Win Share of Voice: More than half of the Total Benchmark Class – 64 percent - favors spending 101 percent to150 percent of the market leader’s investment level during product launch.
The benchmark class includes participation from 44 executives at 38 leading pharmaceutical, biotech and health-care companies. Launch leaders in Metabolics and Cardiology represented the two largest therapeutic area segments to participate in this research project.