Pharmaceutical Companies Need an Effective Global Branding Process for New Products to Ensure Success across Geographies and Affiliates
CHAPEL HILL, N.C., July 21, 2017 /PRNewswire/ -- An effective global branding process has never been more important to a pharmaceutical company that has operations around the world.
As pharma and biotech companies turn to other regions of the world to drive growth, it is important that they create brand elements such as positioning and key messages for new products that will work across geographies and affiliates.
Successful organizations realize affiliates and regions need key branding elements such as positioning early to maximize the impact of a new product launch. Thus one of the keys to an effective global branding program is timing; it's just as important to have regional affiliate participation and sign-off well before launch as it is to nail a new product's tradename and key message.
While a few organizations have an efficient global branding process that effectively creates successful global brands, many other companies are struggling to complete all their global branding activities in a timely manner while ensuring alignment with geographies and affiliates.
Research and consulting leader Best Practices, LLC has published a new report, Best Practices in Global Branding for New Products: Creating an Effective Global Brand for New Products and Ensuring Alignment across Geographies and Affiliates, to help branding leaders more effectively navigate the global branding process.
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/rr1434.htm.
The report is based on an extensive primary research project involving 18 branding leaders from pharmaceutical organizations. Almost 70% of participants are at the level of director or above.
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.
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