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Products & Services

Best Practices in Expanding a Product Portfolio Without Cannibalizing an Established Pharmaceutical Brand

ID: PSM-298


Features:

3 Info Graphics

25 Data Graphics

400+ Metrics

12 Narratives

5 Best Practices


Pages: 67


Published: 2013


Delivery Format: Shipped


 

License Options:
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Single User: Authorizes use by the person who places the order or for whom the order was placed.

Sitewide: Authorizes use of the report for a geographic site. All people at site can view the report for a year and copies can be printed.

Corporate: Authorizes use for the entire company for a year and copies can be printed. No limitations for usage inside the company.




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919-403-0251

  • STUDY OVERVIEW
  • BENCHMARK CLASS
  • STUDY SNAPSHOT
  • KEY FINDINGS
  • VIEW TOC AND LIST OF EXHIBITS
Companies at bio-pharmaceutical industry today managing multiple products for the same indication is a complex balancing act —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 must effectively launch and market a new product or brand in a way that challenges external competition yet sustains the sales and value of a legacy brand that the company controls.

Best Practices, LLC conducted extensive research to identify successful strategies and tactics for marketing multiple brands for the same indication or area of use without cannibalizing an existing portfolio. Special attention was given to strategies for managing resources and for avoiding or controlling product cannibalization. Marketers can use the valuable insights and exhaustive data in this research study to carefully plan and implement their marketing strategies to create multiple, high-performing brands.

Industries Profiled:
Health Care; Pharmaceutical; Diagnostic; Medical Device; Biotech


Companies Profiled:
Abbott; CardioDynamics; Alcon; Centocor Ortho Biotech Inc.; Amgen; Elixir Pharmaceuticals; Baxter International; Lumenis; Boehringer Ingelheim; Micro Labs; Genzyme; Monogram Biosciences; Medrad; Teva Neuroscience; Merck; Novo Nordisk; Pfizer; Schering-Plough; Shire; Solvay Pharmaceuticals; Xanodyne Pharmaceuticals


Study Snapshot

Best Practices, LLC conducted this research to identify successful strategies and practices that can be used by biopharmaceutical managers and executives to maximize the potential of multi-drug portfolios or franchises.

An online survey instrument was used to collect quantitative data. Research analysts also conducted in-depth interviews to collect executive insights and harvest best practices and lessons learned.

Key topic areas covered:
  • Effective methods of differentiating multiple brands
  • Positioning strategies that minimize product cannibalization
  • Operational changes that drive success when introducing a new brand into a product family
  • Positive & negative impacts of introducing a new brand
  • New product’s share of the combined marketing spend during first three years both are marketed
  • Marketing mix for new & legacy products
  • Marketing activities that drive continuing success for legacy brand
  • Best indicators of marketing effectiveness
  • Pitfalls, failure points and best practices

Sample Key Findings

Benefits of New Brand: Most benchmark participants realized benefits from introducing a new brand where they already had a legacy product. Top among those benefits were market leadership, expanded market share and improved reputation with physicians and specialists.
  • Marketing Spend: On average, 60% of the combined spend for the legacy and new products is allocated to the new brand during its first year on the market. Over the next two years, the proportion of combined spend allocated to the newer brand begins to drop.
Table of Contents

Executive Summary
    • Research Overview: Objective & Key Topic Areas
    • Participating Companies
    • Critical Success Factors in Marketing Multiple Brands
    • Key Findings & Observations
  • New Product Differentiators, Strategies & Impacts
  • Marketing Spend & Budget Allocation
  • Marketing Activities & Product Goals
  • Qualitative Analysis
  • Pitfalls to Avoid
  • Best Practices
  • Appendix

List of Charts & Exhibits

Most effective differentiators for two or more brands within one company for the same indication or area of use
  • Successful use of brand promotion strategies
  • Positioning strategies for minimizing cannibalization
  • Positioning strategies for minimizing cannibalization
  • Operational changes resulting new product introduction
  • Positive impacts of marketing multiple products
  • Average percentage of combined marketing spend allocated to newer product
  • Marketing mix for newer product
  • Marketing mix for legacy product
  • Percentage of total marketing spend per activity
  • Jointly-funded marketing activities
  • Goals for introducing new product for same indication
  • Marketing strategy success ratings
  • Steps to excellence in multiple-brand marketing
  • Key pitfalls identified by the benchmark class
  • Key best practices identified by the benchmark class