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Best Practice Database
Brand Management and Product Leadership » Lifecycle Management
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Increasing cost pressures have forced pharmaceutical and medical device companies to explore sources of revenue beyond the development of new products. As organizations are trying to maximize the potential of mature / legacy products, it is important to review the resources, operations and support provided to dedicated mature brand groups.
Best Practices, LLC undertook this benchmarking research to identify winning lifecycle management (LCM) strategies for mature brands. In particular, this study provides an overview of the operation, expenses, responsibilities and business impact of groups dedicated to managing and supporting mature / legacy products.
Brand management and marketing leaders can refer to this study to employ strategies for successfully managing mature / legacy products.
Best Practices, LLC engaged 38 industry professionals from 25 pharmaceutical and biotechnology companies through a benchmarking survey, focus group interviews and round-table discussion. More than sixty percent of the benchmark partners serve at the director or president level.