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Products & Services Product Launch Re-launch

Product Re-Launch: Determining the Ideal Marketing Investment

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ID: 4773


Features:

Metrics, Graphics


Pages/Slides: 17


Published: Pre-2013


Delivery Format: Online PDF Document


 

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"Product Re-Launch: Determining the Ideal Marketing Investment"


Study Overview
When product managers endeavor to re-launch a pharmaceutical product, they face numerous obstacles in securing funding for a re-launch and in determining the ideal mix of activities. This 17-page document will help product managers to benchmark their investment levels against that of top companies and to access best practices about achieving an ideal marketing mix.

Key topics

  • Multi-faceted approach to designing the marketing mix
  • Structured approach to winning resources
  • Benchmarking first launch and the competition
  • Managing stigma from the first launch
  • Marketing mix: apply key marketing levers to drive success
  • Investment allocation: strategies to optimize resources and minimize risk
  • Monitor success: adjust investment strategy to reflect post re-launch reality

Sample Best Practices
  • Use thorough market research and long-range forecasts to ensure adequate resourcing of the re-launch efforts.
  • *In developing the business case for obtaining adequate resources, data is usually the most convincing tool. As a senior executive explains: “You need data to be a maverick or thorn in the side of others in the organization. When you get down to opinions, the one with the most data and credibility will have the clout to win.”
  • Employ a balanced investment allocation approach to ensure that a single, poor tactical result will not sabotage the entire re-launch effort.
  • *The primary hurdle in identifying the perfect mix is the myth of the perfect formula. A causal relationship does not exist, e.g., a magic universal formula, between marketing mix investment areas and the overall sales result for every possible re-launch scenario.

Methodology
This document was gleaned 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.