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Products & Services Product Launch Re-launch

Product Character & Position: Choosing Changes for New Growth

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ID: 4771


Features:

Metrics, Graphics


Pages/Slides: 19


Published: Pre-2014


Delivery Format: Online PDF Document


 

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"Product Character & Position: Choosing Changes for New Growth"


Study Overview
Most companies eventually must face the daunting task of re-launching a pharmaceutical product. Determining what changes to the brand's character and positioning would be most effective is the first important step in setting re-launch strategy. This 19-page study will help brand executives to benchmark their efforts against other companies and to access best practices in re-positioning a product before re-launch.

Key topics

  • Resetting the Product's Positioning
  • Defining a New Core Message
  • Communicating a New Message to Physicians
  • Maximizing the Portfolio
  • Gaining Thought Leader Support

Key Metrics
  • Which brand factors were key in fitting the product into the existing portfolio
  • Which approaches were effective in gaining thought leader support
  • Which technique were effective in redefining brand character

Sample best practices
  • Consider a price change at re-launch only if extensive market research indicates price is a barrier to success for the drug.
  • *Brand leaders generally regard changing product price as a radical move — a re-launch tactic of last resort – and executives participating in this study are no different. However, some study participants have found certain price changes to be highly effective in improving a product’s trajectory after re-launch.
  • Invest in clinical research and scientific publications to strengthen a brand’s differentiation.
  • *Many successful product re-launches were grounded in new data from clinical research that continued long after a brand was approved for the market. Companies have re-positioned brands and re-launched products around research findings for new indications, improved formulations and new safety evidence.

Methodology
This document originated from a larger consulting project for a major pharmaceutical client.

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


Companies Profiled:
Bayer Healthcare; UCB Pharma; Schering-Plough; Roche; Pfizer; Novartis; Merck; AstraZeneca; DSM Pharmaceutical; Sanofi-aventis; Abbott Laboratories; Eli Lilly; GlaxoSmithKline l

If you purchase Best Practice Database document(s), you will have 30 days from the date of purchase to apply some or all of the cost of the document(s) toward the cost of a Full Access Individual, Pharma, Group or University Membership. Write us at DatabaseTeam@bestpracticesllc.com or call David Guinn at 919-767-9179 if you have any questions.