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:6/24/2016)... ... 24, 2016 , ... June 19, 2016 is World Sickle Cell Observance Day. ... the benefits of holistic treatments, Serenity Recovery Center of Marne, Michigan, has ... , Sickle Cell Disease (SCD) is a disorder of the red blood cells, which ...
(Date:6/24/2016)... ... ... Global law firm Greenberg Traurig, P.A. announced that 20 Florida attorneys are ... for this recognition are considered among the top 2 percent of lawyers practicing within ... of this year’s Legal Elite Hall of Fame: Miami Shareholders Mark D. Bloom, ...
(Date:6/24/2016)... ... June 24, 2016 , ... Topical BioMedics, Inc, makers of Topricin and MyPainAway Pain Relief ... a minimum wage raise to $12 an hour by 2020 and then adjusting it yearly ... lost value of the minimum wage, assure the wage floor does not erode again, and ...
(Date:6/24/2016)... (PRWEB) , ... June 24, 2016 , ... ... Living, is proud to recognize Dr. Barry M. Weintraub as a prominent plastic ... most beautiful women in the world, and the most handsome men, look naturally ...
(Date:6/24/2016)... ... 2016 , ... National recruitment firm Slone Partners is pleased to ... genomics experience, as Vice President of North American Capital Sales at HTG Molecular ... the sales team in the commercialization of the HTG EdgeSeq system and associated reagents ...
Breaking Medicine News(10 mins):
(Date:6/24/2016)... , June 24, 2016 VolitionRx ... of Dr. Edward Futcher to the ... effective June 23, 2016.Dr. Futcher was also appointed ... Governance Committees.  As a non-executive member of the ... and strategic counsel to VolitionRx in connection with ...
(Date:6/23/2016)... , June 23, 2016 Any dentist who ... challenges of the current process. Many of them do not ... the technical difficulties and high laboratory costs involved. And those ... offer it at such a high cost that the majority ... Dr. Parsa Zadeh , founder of Dental ...
(Date:6/23/2016)... 2016 Research and Markets has announced ... Analysis 2016 - Forecast to 2022" report to their ... contains up to date financial data derived from varied research ... trends with potential impact on the market during the next ... which comprises of sub markets, regional and country level analysis. ...
Breaking Medicine Technology: