New Study Finds that Timing of Brand Activities is a Key Component of an Effective Global Branding Process for New Pharmaceutical Products
CHAPEL HILL, N.C., - March 3, 2017 -- Pharmaceutical companies struggle to create global branding that will work across geographies and affiliates.
The timing of brand activities is a key component of an effective global branding process that will work across geographies and affiliates, according to new research from consulting firm Best Practices, LLC.
In the study, participants favored initially handing over 7 of 8 key branding elements to affiliates during the Phase III Data to NDA Filing period. This timing allows for global and affiliates to create brand element alignment over consequent months, with both sides completing the handover in the next periods, Filing to Registration (42% complete) and Registration/Approval to Launch (58% complete).
The study, Best Practices in Global Branding for New Products: Creating an Effective Global Brand for New Products and Ensuring Alignment across Geographies and Affiliates, can help brand leaders more effectively navigate the global branding process to ensure a successful global launch of a new product.
The study contains current insights from leading pharmaceutical companies on questions such as:
- When are companies starting and finishing key global branding activities such as tradename identification, positioning, message development and brand personality?
- What functional groups are leading these branding activities and who has sign-off responsibilities?
- How do organizations ensure their global branding elements meet affiliates' needs?
- How much are agencies utilized for the different branding activities?
- What are the agency costs associated with positioning and message development?
The full 76-page report contains hundreds of benchmark metrics and dozens of narratives from veteran branding leaders to provide executives with the tools, tactics and techniques to help organizations develop a successful global branding program.
Review a complimentary summary of the study at http://www.best-in-class.com/rr1442.htm.
The report is based on an extensive primary research project involving 18 branding leaders from pharmaceutical organizations. Pharmaceutical leaders can use this study to see how their global branding process compares with industry trends and averages.
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.