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Marketing organizations have an increasingly active role in conducting early and continuous market research and interacting with thought leaders to assess market opportunities, drive product profile development and create customer demand and brand loyalty.
This 43-page document includes tactics that will help pharmaceutical launch teams bring innovative products to market faster with greater commercial success. The information and analysis it includes will enable company team members to understand the winning strategies, practices, team structures and investment patterns employed by top performing companies.
Key topics covered in this document include:
- Product Branding
- Promotional Messages and Materials
- Marketing Materials Development
- Physician Targeting
- Direct-To-Consumer Promotion
- Managed Care Organization
- Partnerships Between R&D and Marketing
- Meeting and Event Sponsorship
Select best practices include:
1. Ramp up spending on meetings and events two years prior to launch to raise awareness of new product.
- One company plans to invest $8 million in meetings and congresses prior to a new product launch in the U.S. market.
2. Develop an understanding of the needs and desires of the end-consumer of your product to expand market share.
- One benchmark company used methods such as direct mail sent to a targeted population, information stations in pharmacies, drug stores and hospitals, and company participation in activist groups and symposia related to the therapeutic area.
3. Use centralized tracking systems to increase development process efficiency.
- For example, one benchmark partner company employs an electronic routing system to track projects through the various stages of the process.
This research originated from a Best Practices, LLC consulting project.