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Best Practice Database
Sales and Marketing » Marketing Management » Deploying Marketing Programs » Brand Management
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Managing multiple products for the same indication is a complex balancing act for bio-pharmaceutical companies today—especially those that want to prevent one of their brands from gaining market share at the expense of another. Maximizing the potential of each product requires well-crafted marketing strategies and smart resource allocation plans. Marketers have to make sure of launching and marketing a new product or brand in a way that challenges external competition while sustaining the sales and value of the legacy brand.
With the objective of identifying successful strategies and tactics for marketing multiple brands for the same indication or area of use, Best Practices, LLC conducted this research project to uncover strategies for managing resources and for avoiding product cannibalization. Marketers can use this research study to carefully plan and implement their marketing strategies to create multiple high-performing brands.