Launching Pharmaceutical Megabrands: Best Practices in Marketing Blockbusters
The findings in this Best Practices Benchmarking® Report will enable pharmaceutical executives to understand the winning strategies, practices, team structures and investment patterns that distinguish successful new product development and marketing planning. Moreover, the project findings will enable companies to move knowledgeably toward the objective of developing its own world-class marketing support capabilities.
Sales and Marketing > New Product Development and Launch
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Industries Profiled:
Pharmaceutical; Biotech; Consumer Products; Diagnostic; Health Care
Companies Profiled:
Abbott Laboratories; Sanofi-aventis; Bristol-Myers Squibb; Amgen; Boehringer-Ingelheim; Bayer; AstraZeneca; Eli Lilly and Company; Novartis; GlaxoSmithKline ; Pfizer; Merck; Wyeth
Study Snapshot
Best Practices, LLC performed an industry-wide benchmark study on multi-phased marketing support for new products across an elite group of high performing pharmaceutical companies.
Newly updated with case studies from some of the most ground-breaking product launches, the findings in this Best Practices Benchmarking® Report will enable pharmaceutical executives to understand the winning strategies, practices, team structures and investment patterns that distinguish successful new product development and marketing planning. Moreover, the project findings will enable companies to move knowledgeably toward the objective of developing world-class marketing support capabilities.
The leading practices, managerial insights and benchmark metrics in this report are drawn from in-depth interviews (1-2 hours per interview) with executives from more than 15 leading pharmaceutical companies.
Additionally, pharmaceutical marketing support information was gathered from various other sources, including Best Practices, LLC’s proprietary databases, other public and private databases, literature reviews and on-line data research. The chart on the next page profiles the full benchmark class of companies and interviewee demographics.
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Key Findings
The benchmark study findings are organized into an executive summary and five chapters:
- Executive Summary
The executive summary outlines the five top "Lessons Learned," as identified by benchmark partners and Best Practices, LLC project analysts. Studying these lessons learned will help your team members frame their overall thinking about new product development and marketing support decisions. Accompanying charts provide one-glance summaries of the key findings of the project.
Each chapter includes an overview summarizing the winning approaches of top-performing companies in the given area, benchmark data tables where relevant, and the best practices of marketing support identified by benchmark partners and Best Practices, LLC analysts.
- Chapter 1: Developing and Deploying Integrated Marketing Support
Replete with graphs of benchmark responses and data analysis, Chapter 1 shares the timing and frequency of key marketing activities conducted for new products by benchmark partners.
- Chapter 2: Investing for Maximum Impact
In Chapter 2, benchmark data of spend levels are coupled with key insights regarding resource allocation and spend differentiation among pharmaceutical companies.
- Chapter 3: Managing Team Structure, Communication & Transition
A key driver of development success is properly managing team structures and transitions in order to leverage product knowledge. Chapter 3 diagrams multi-phase reporting relationships and details lessons learned shared by benchmark executives. This chapter also includes practices detailing marketing career paths, team structures and transitions in order to leverage product knowledge.
- Chapter 4: Driving Commercially Focused Drug Development
There are many pieces of the puzzle which, when joined, prepare a product to achieve optimal commercial potential. Chapter 4 explores how thought leader input, trial strategy and pharmacoeconomic outcomes work to create a balance between clinical and commercial development.
- Chapter 5: Preparing Market for Rapid Product Uptake
In conjunction with preparing the drug for launch, key activities prepare the market to accept the drug. This chapter relates lessons learned for marketing strategies that employ thought leaders, public relations, advocacy and payer groups, as well as competitive intelligence.
- Chapter 6: Blockbuster Product Case Studies
This section highlights the marketing success stories behind 16 of the world’s top selling drugs. Learn the marketing profiles, tactics and strategies that made these products into blockbusters.
- Appendix A: Optimizing Commercial Resources for Launch Success
This appendix identifies best practices in optimizing commercial resource support for pharmaceutical product launches.
- Appendix B: Marketing Metrics at a Glance Appendix B includes the leading and lagging indicators for brand performance, marketing metrics responsibilities, and timeline and competencies to evaluate marketing effectiveness.
- Appendix C: Marketing Publications Staffing
This appendix reveals optimal staffing levels, staff workload and staff optimization resources that are critical for marketing publications that support blockbuster product launches.
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