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Medical Device Marketing Groups Focus More Resources on Tactical Activities When Compared to Pharmaceutical Counterparts
CHAPEL HILL, N.C. – August 12, 2011 – Although medical devices possess strong profit margin potential, product and configuration complexities require medical device companies to invest more resources in tactical marketing compared to branded or generic pharmaceutical products.
Tactical marketers in medical device companies contribute to multiple marketing activities, such as troubleshooting post-launch and managing product enhancements, but focus on marketing communications to promote the portfolio of complex products, according to “Optimizing Marketing Staff Levels to Drive Growth in Medical Devices,” primary research conducted by Best Practices, LLC. The most efficient strategic marketing group accomplishes this with fewer than 2.5 dedicated tactical marketing staff driving $100 million in revenue.
Download a complimentary white paper at http://www.best-in-class.com/rr1105.htm that includes selected best practices drawn from extensive primary research with executives from 11 leading medical device companies.
Key insights of this primary research include:
- Strategic marketers in the medical device industry support more than seven times the number of products on average compared to their pharmaceutical counterparts.
- The average staffing benchmark is approximately five tactical marketing FTEs per $100 million in device revenue generated.
The full 34-page report contains more than 100 benchmark metrics and 18 data graphics, providing marketing operations executives a roadmap to benchmark staffing and performance levels for marketing activities against growth and margin rates across the medical device sector.
For more information on this study and other recent primary research studies, contact us at 919.403.0251 or at bestpractices@best-in-class.com.
BEST PRACTICES, LLC, conducts work based on the simple yet 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. Best Practices, LLC has been a leader in pharmaceutical research and consulting for more than 17 years; our clients include 48 out of the top 50 pharmaceutical companies.
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