CHAPEL HILL, N.C., May 6 /PRNewswire/ -- There are a lot of steps between a failed drug launch and a successful re-launch. An organization's sales force must be involved with many of those steps because invigorated sales force support is crucial to any successful re-launch effort, according to a study by benchmarking leader Best Practices, LLC.
How do you invigorate a sales force? Half of the companies that participated in the research identified raised incentive compensation and fine-tuned product placement as highly effective tactics for enhancing a product's position in the sales force and marketplace.
The study, Product Re-Launch Excellence: Transforming Lackluster Pharmaceutical Products into Market Success Stories, is available online with a complimentary excerpt at http://www3.best-in-class.com/rr940.htm
The study gathers insights from 14 pharmaceutical and biotech companies, including Abbott Labs, AstraZeneca, GlaxoSmithKline, Merck, Novartis, Pfizer and Sanofi-Aventis. The research contains almost 500 metrics and 50 best practices that will help executives gain insights into re-launch strategy and practices.
As best-in-class pharma companies demonstrated, a product's uptake on re- launch is boosted by combining a new core message that redefines a product's identity with adjustments to field sales force tactics to fit with the repositioned brand.
The research revealed that while companies agree changes are needed for
a re-launch sales force to be effective, determining what changes are
needed depends on the reasons for the re-launch. Benchmark partners
identified -- and the study examines -- various factors to consider when
evaluating sales force changes:
-- Should the sales force size be expanded?
-- Should the product position be elevated within a sales force?
-- Will different customer segments need to be targeted and penetrated?
-- Will new incentives be required to win support?
-- Will new training be essential to sales force success?
For a deeper exploration of the captured metrics and best practices in the study, visit http://www3.best-in-class.com/rr940.htm or for related research visit our Best Practices, LLC Web site at: http://www3.best-in-class.com/ .
ABOUT BEST PRACTICES, LLC
Best Practices, LLC is a research and consulting firm that conducts work based on the principle that organizations can chart a course to superior economic performance by studying the best business practices, operating tactics and winning strategies of world-class companies. Our clients include 43 of the 50 leading pharmaceutical companies. For more information, call (919) 403-0251 or visit http://www3.best-in-class.com/ .
|SOURCE Best Practices, LLC|
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