Navigation Links
Redefining a Product's Identity Key to a Successful Re-Launch
Date:6/4/2008

CHAPEL HILL, N.C., June 4 /PRNewswire/ -- A failed drug launch can cost a pharmaceutical company millions, but not considering a re-launch can end up costing a company more. Leading pharmaceutical companies expect at least a 20 percent increase in annual sales with a re-launch, according to a study by the research and consulting firm Best Practices, LLC.

As best-in-class pharma companies have demonstrated, combining an honest, disciplined reexamination of initial missteps with a new core message that redefines a product's identity can catapult product uptake on re-launch. The study, Product Re-Launch Excellence: Transforming Lackluster Pharmaceutical Products into Market Success Stories, gathers insights from 14 pharmaceutical and biotech companies, including Abbott Labs, AstraZeneca, GlaxoSmithKline, Merck, Novartis, Pfizer and Sanofi-Aventis.

The report is available online with a complimentary excerpt at http://www3.best-in-class.com/rr955.htm .

The study contains almost 500 metrics and 50 best practices that will help executives gain insights into re-launch strategy and practices. Organizations use an assortment of tactics, but 95 percent of all benchmarked companies said topping the list is changing core promotional messages.

The research revealed that in addition to changing core promotional messages, brand managers use an assortment of tactics to redefine their product character for re-launch:
- Developing a position around an unmet medical need

- Articulating product benefits as opposed to product features

- Positioning against competitor products

- Clarifying targeted patient groups

- Revising marketing materials and details

For a deeper exploration of the captured metrics and best practices in the study, visit http://www3.best-in-class.com/rr955.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
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Redefining a Products Identity Key to a Successful Re-Launch
2. Contour Products(TM) Works with National Drug Store Chains to Offer Cash-and-Carry Ergonomic Sleep and Body Comfort Items
3. ATK Receives Laureate Award From Computerworld Honors Program for Storage and Data Protection Innovation Featuring Overlands Products
4. Philadelphia Insurance Companies Launches Home Health Care and Hospice Products
5. Smith & Nephew Negative Pressure Wound Therapy Products To Be Available To Patients Through the Medicare Part B Competitive Bidding Process
6. Most caregivers of young children lack basic knowledge of potentially toxic household products
7. ExploreDairy.com Debuts With Information on Minnesota Dairy Events, People and Products
8. Jury Rules in Favor of Glycoproducts International, Inc.
9. LELO Products To Be Sold in Swedish State-Owned Pharmacy, Apoteket
10. New Efforts to Help Improve Medical Products for Patient Safety and Quality of Medical Care
11. China Biologic Products Announces Approval for the Relocation of Fang Cheng Plasma Collection Station and for the Procurement of Excess Clinical Plasma
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:1/21/2017)... ... January 21, 2017 , ... Pacifica Graduate ... the electrifying line-up of events for its annual meeting “Coming Home 2017,” an ... “Coming Home 2017” will be held on Friday January 27 through Sunday, ...
(Date:1/21/2017)... ... January 21, 2017 , ... In the United States, 20 million ... freedom of recovery, they often feel shame for having struggled with an eating disorder ... In the workshop, “Rising Strong in Life After an Eating Disorder” -- to be ...
(Date:1/20/2017)... (PRWEB) , ... January 20, 2017 , ... A new ... donate items they no longer use or need, from clothes to couches to dressers ... unwanted items and take them to the nearest Goodwill donation center through February 28th. ...
(Date:1/20/2017)... ... January 20, 2017 , ... Doctor C LLC, a company based ... ECRM trade show to continue the marketing and distribution of its product, The Right ... providing 400 percent better absorption than traditional vitamin C supplements. At the trade show, ...
(Date:1/20/2017)... ... January 20, 2017 , ... ... to enhance people’s everyday lives, recently attended the January ECRM Trade Show in ... Science is known for its large range of supplements that keep the body ...
Breaking Medicine News(10 mins):
(Date:1/20/2017)... January 20, 2017 ... an Nothilfe   Die internationale humanitäre Stadt soll ... zu schaffen   Seine Hoheit Scheich ... VAE sowie Herrscher von Dubai , ... der Hilfe (International Humanitarian City IHC) zu verdreifachen, um ...
(Date:1/19/2017)... , Jan. 19, 2017 The global ... billion by 2025, according to a new study ... anticipated to be predominantly driven by high R&D ... the large-scale production of new and therapeutically advanced ... of drugs at an unprecedented rate into the ...
(Date:1/19/2017)... Jan. 19, 2017 The U.S. Food and Drug ... Idiopathic Constipation (CIC) in adult patients. "No ... disorders," said Julie Beitz , M.D., director of the ... Drug Evaluation and Research. "With the availability of new therapies, ... for their condition." ...
Breaking Medicine Technology: