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:2/11/2016)... ... ... As part of their 2015 end of year funding strategy, Colleen’s Dream ... $10,000 to University of Chicago to support ovarian cancer research being conducted by Dr. ... to support a promising young investigator from Dr. Lengyel’s lab at the University of ...
(Date:2/10/2016)... ... February 10, 2016 , ... Sherly ... for a series of therapeutic sessions to help Los Angeles-area actors cope with ... their lives. The series, known as “Mindfulness for Actors and Artists,” has been ...
(Date:2/10/2016)... ... February 10, 2016 , ... ... care communications company offering education, research and medical media, has launched ... working in infectious diseases. , As the all-inclusive resource for infectious disease ...
(Date:2/10/2016)... ... 10, 2016 , ... As part of its ongoing series of aquatic therapy ... webinar features a dynamic expert and thoughtful presentation to give attendees a better sense ... Both events are free to attend, but registration is required. , Rehabilitation ...
(Date:2/10/2016)... ... 10, 2016 , ... Compliancy Group LLC is pleased to ... throughout the country. The Guard was specifically designed to handle each element required ... regulatory updates, and compliance coaching. , In addition to meeting the compliance needs ...
Breaking Medicine News(10 mins):
(Date:2/11/2016)... F ast access to ... at the point of need   ... products and services, has launched a ClinicalKey mobile app that ... device. Elsevier designed the mobile app to allow users to select access ... Android and iOS formats for mobile phone and ...
(Date:2/11/2016)... Inc., spurred by a major "team investment" by Bruce Montgomery , one of this area,s ... according to CEO Leen Kawas , PhD. ... ... ... Kawas said the round was intended to ...
(Date:2/11/2016)... 11, 2016  AcelRx Pharmaceuticals, Inc. (NASDAQ: ACRX ... made at the 38th annual John A. Boswick ... which is being held February 14-18, 2016 in ... latest advancements in wound healing, burn care, and infection ... Australian-New Zealand Burns Association, Academy of Physicians in Wound ...
Breaking Medicine Technology: