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Performance Benchmark: Optimizing Staff Levels to Drive Growth in Medical Devices

ID: PSM-244


Features:

6 Info Graphics

18 Data Graphics

100+ Metrics


Pages: 34


Published: Pre-2013


Delivery Format: Shipped


 

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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
In a dynamic business environment where an organization’s growth goals shift rapidly, companies review and modify their marketing strategy, tactics, time and activities on a timely basis to match the product and business requirements. Data gathered through this study will aid organizations to benchmark strategic and tactical marketing activities with top companies in the medical device-healthcare sector, to support their product portfolio in driving corporate growth and profitability.

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


Companies Profiled:
Abbott Laboratories; Becton Dickinson; Hospira; LifeScan; Medtronic; Respironics; BARD; Medrad; Cardinal Health; Response; Stryker


Study Snapshot

This research study aims to identify Staffing and Performance levels for the marketing activities against growth and margin rates, across the Medical Device sector. For improved understanding of optimal performance ranges, the importance of more than 15 critical performance factors was comprehensively analyzed.

Research partners participated in a benchmark field study that identified performance levels across a broad range of key business performance factors that include:
  • What staffing and productivity Levels exist across Medical Device companies?
  • What growth and profit margin levels characterize high performance?
  • What strategic marketing activities are most important and consume the greatest resources?

The report comprises valuable statistics and information relating to sales growth rates, profit margins, marketing staff FTEs, and product coverage benchmarks. In addition, a section on Marketing Excellence Benchmarks provides maximum, minimum, 75th percentile, 25th percentile, mean and median responses for sales growth, profit margins, marketing staff FTEs and product coverage benchmarks.

Key Findings

Successful branded Rx products have the potential to grow rapidly, thereby winning marketing resources to create demand. Growth rates for other categories tend to run 25-30 percent less.

  • Generic product tactical marketers carry twelve times more products than branded Rx product marketers and typically more products than medical device tactical marketers. Both generic and device tactical marketers tend to be charged with taxing product portfolios.
Table of Contents

Research Objectives and Priorities 2
Multiple Dimensions of Marketing Productivity 3

Field Research Overview 4
Medical Device Leaders 5
Marketing Experience & Expertise 6

Key Insights, Findings and Observations 7
Marketing Models Evolve to Reflect Business Model 8
Sales Growth Rates Reflect Product Type 9
Gross Margins Highest for Patented & Branded Products 10
Strategic Marketing FTEs per $100 Million Sales 11
Tactical Marketing FTEs per $100 Million Sales 12
Product Coverage per Strategic Marketing Staffer 13
Product Coverage per Tactical Marketing Staffer 14
Marketing Optimization Insights 15

Marketing Excellence 16
Medical Device Participants Reflect Specialty Products 17
Medical Device Participants Serve Many Institutional Customers 18
Geographic Market Scope Among Medical Device Teams 19
Medical Device Strategic Marketing 20
Medical Device Tactical Marketing 21
Medical Device Revenue Levels 22
Medical Device Portfolio Growth 23
Medical Device Profit Margins Vary 24
Medical Device Strategic Marketing Staffing 25
Medical Device Tactical Marketing Staffing 26
Driving Growth & Margin through Strategy 27
Driving Growth & Margin through Tactics 28
New Product Development Dominates Strategic Activity 29
MarCom & MedEd Dominate Tactical Activity 30
NPD Wins Greatest Medical Device Strategic FTEs 31
MarCom, Troubleshooting and MedEd Occupy Greatest Tactical Time 32
Consolidated Strategic & Tactical FTEs Focus on Growth Drivers 34

About Best Practices, LLC 35

List of Charts & Exhibits

Number of Medical Device Products Supported Per Tactical and Strategic Marketing FTE
  • Number of Strategic and Tactical Medical Device Marketing FTEs per $100 Million
  • Time & Activity Benchmarks for Strategic and Tactical Medical Device Marketing Staff
  • Strategic and Tactical Medical Device Marketing Staff Benchmarks Across Key Activities
  • Product Coverage Benchmarks For Each Tactical Marketing FTE
  • Product Coverage Benchmarks For Each Strategic Marketing FTE
  • Gross Profit Margin Benchmarks for Product Categories
  • Number of Medical Device Tactical Marketing FTEs per $100 Million Revenue Mapped Against Growth & Margin Rates
  • Numberof Medical Device Strategic Marketing FTEs per $100 Million Revenue Mapped Against Growth & Margin Rates