CHAPEL HILL, N.C., Oct. 9 /PRNewswire/ -- Pharmaceutical and biotech companies reach much greater and sustained product success when they ensure strong partnerships between R&D and marketing, balancing therapeutic innovation with commercial focus in all stages of product development.
It requires companies to break down the walls that have traditionally separated R&D from marketing and instead leverage the strengths of both talented medical researchers and skillful marketers.
Best Practices LLC's benchmarking report, "Best Practices in Global Pharmaceutical Launches," outlines just what commercially focused R&D looks like.
Analysts harvested survey data and qualitative best practices from informed executives at elite pharmaceutical companies, including Merck, Pfizer, Johnson & Johnson, Bristol-Myers Squibb and Novartis. The report includes over 180 metrics, 100 best practices and 20 company narratives on critical pre and post launch topics, including:
* Marketing Launch Strategy and Structure
* Marketing Investment and Staffing
* Cross-Functional Launch Team Composition and Management
* Thought Leader Development
* Sales Force Support and Compensation Management
* Market Research
* Marketing Activities
* Life Cycle Management
For more information, sample practices and graphics from this report, download a complimentary excerpt at http://www3.best-in-class.com/rr864.htm.
Example best practices from the report include:
* The most successful product launches reveal new levels of organizational
alignment. Marketers play a vital role in shaping and planning product
strategy. Marketing activities are beginning earlier in the development
process - often four to six years prior to launch.
* Top-performing benchmark partners invested significant financial and
human resources to ensure the initial and on-going success of important
new products. For a blockbuster drug with potential annual sales of at
least $500 million ~ $1 billion within 3-4 years following launch, these
companies spent between $100 million and $500 million in marketing
* Benchmark partners stressed the importance of managing thought leader
development as an integrated, multi-phased process. Companies seek to
tailor their efforts, activities and relationship investments to match
the value of each thought leader segment and to reflect the roles of
each segment at different points in time.
Product and marketing executives seeking to improve their own drug launch process will find this detailed report invaluable for learning how the best in the world do it. By implementing the basic drug launch formulas of best-in- class organizations, companies can fine-tune their products' positioning with added assurances of success.
Download additional findings in the complimentary report summary at: http://www3.best-in-class.com/rr864.htm or contact our Solution Specialists at (919) 403-0251 or firstname.lastname@example.org.
ABOUT BEST PRACTICES, LLC
Best Practices, LLC, conducts work based on the simple yet profound 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. Best Practices, LLC has been a leader in pharmaceutical research and consulting for nearly 15 years; our clients include 43 out of the top 50 pharmaceutical companies. Visit us online at www3.best-in-class.com.
|SOURCE Best Practices LLC|
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