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Best Practice Database
Brand Management and Product Leadership » Product Marketing and Innovation
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Medical device companies managing multiple products for the same indication face a complex balancing act — they have to prevent one of their brands from gaining market share at the expense of another. Maximizing the potential of each device product requires well-crafted marketing strategies that focus on providing each product with the appropriate marketing spending and activities.
Best Practices, LLC conducted this study to identify successful strategies and tactics for marketing multiple medical device brands for the same indication or area of use without cannibalizing an existing portfolio. Special attention was given to exploring current approaches to balancing the marketing spending and activities for new and legacy products in the same therapeutic area. 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.