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:5/26/2016)... ... 2016 , ... OncLive® , a leading digital provider ... University of Virginia (UVA) Cancer Center to its quickly expanding Strategic ... will publicize and promote public awareness of UVA Cancer Center’s latest advances in ...
(Date:5/26/2016)... (PRWEB) , ... May 26, 2016 , ... ... organization to provide strategic sales leadership and to further develop their rapidly expanding ... B.S. in Business Administration with a concentration in Marketing and an M.B.A. with ...
(Date:5/26/2016)... ... ... Dr. LeRoy Perry’s recently authored whitepaper, “Tech Neck and ROI (return on ... users, hundreds of millions of whom are coming into the workplace with pain in ... action of looking down at hand-held technology devices (tablets, smartphones) for extended periods of ...
(Date:5/26/2016)... ... , ... In 1980, Bill Howe opened AM/PM Sewer and Drains as a ... to grow the company was built on a simple mission of providing qualified San ... and customer service. Over 35 years later, Bill Howe remains one of the largest ...
(Date:5/26/2016)... ... May 26, 2016 , ... TopConsumerReviews.com ... Blood Pressure products . , High blood pressure affects millions of people worldwide, ... blood pressure can lead to heart disease, stroke, kidney disease, and hardening of ...
Breaking Medicine News(10 mins):
(Date:5/26/2016)... According to a new market report ... U.S. Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 ... was valued at US$ 5.89 Bn in 2014 and is ... to 2023 to reach US$ 7.99 Bn in 2023. ... needle free drug delivery devices and the market is estimated ...
(Date:5/26/2016)... A key trend that will ... of new treatments. Cardax, a development stage life sciences ... therapy is expected to fulfil large unmet medical needs ... studies to develop new treatments for osteoarthritis. One such ... in osteoarthritis are being investigated, and early trials of ...
(Date:5/26/2016)... 2016 TARE (Transarterial Radio-embolization) ... Savings and Overall Decreased Use of Hospital ... international specialist healthcare company, has today announced the ... Meeting of ISPOR (International Society for Pharmacoeconomics and ... (HCC) using yttrium-90 glass microspheres is associated with ...
Breaking Medicine Technology: