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Best Practice Database
Product Launch » Influences on Market Entry
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One of the more difficult aspects of planning a new product launch is balancing the different resource and investment allocations that are needed to prepare the marketplace for a new product. In particular, organizations wrestle with allocating the appropriate resources for informing key stakeholders as well as other critical launch activities that are carried out across different functional areas.
This Best Practices, LLC study reviews key resource and investment benchmarks regarding a new product launch, such as percentage of resources for educating stakeholder groups, investment requirements for entering a competitive marketplace, and rating the importance of using launch resources for key activities carried out across different groups such as R&D, Medical Affairs, Marketing, Sales, and Supply Chain. In addition, the study also looks at current and future trends in resource allocation. Executives and managers in product launch groups can use this study to compare their current launch resource and allocation approaches with those at leading companies.
SAMPLE KEY FINDINGS
The benchmark class includes participation from 44 executives at 38 leading pharmaceutical, biotech and health-care companies. Launch leaders in Metabolics and Cardiology represented the two largest therapeutic area segments to participate in this research project.
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