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Best Practice Database
Brand Management and Product Leadership » Product Marketing and Innovation
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Biopharmaceutical companies managing multiple products for the same indication face a challenging act — making sure new products don't gain market share and profits at the expense of legacy brands. To ensure this, organizations must effectively launch and market a new product or brand in a way that challenges external competition yet sustains the sales and value of the company's legacy brands.
Best Practices, LLC conducted this study to identify successful strategies and tactics for marketing multiple brands for the same indication or area of use without cannibalizing an existing portfolio. In particular, this study presents effective methods for differentiating multiple brands as well as positioning strategies that minimize product cannibalization. In addition, this study contains extensive qualitative information regarding different leaders' approaches to this issue. Marketing leaders can use the insights and data in this research study to plan and implement their marketing strategies to create multiple, high-performing brands.