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Global Strategic Marketing Key to Success in Oncology Launches in the Pharmaceutical Sector
Date:10/28/2011

CHAPEL HILL, N.C., Oct. 28, 2011 /PRNewswire/ -- The oncology market continues to be a rapid growth area for the pharmaceutical industry. Managing all the aspects of successfully launching a new oncology product is a daunting endeavor that often falls to the Global Strategic Marketing function.

The regulatory environment, regional differences and the competitive nature of the oncology marketplace present significant challenges for Global Strategic Marketing (GSM) organizations. The evolving nature of these challenges pushes GSM organizations to continually assess their budgets, investment strategies, staffing, structure and scope of services.

For instance, a survey of 12 large pharmaceutical companies found a majority expected to increase spending for four of six GSM activities for pipeline products over the next two years. Activities expected to gain are ad boards, marketing, thought leaders and market intelligence. Meanwhile, most of the companies expect spending to stay flat or drop for global congresses/conventions during the same period, according to a new benchmarking study from Best Practices, LLC.

The study, Oncology Global Strategic Marketing: Benchmarking Budget Levels and Service Scope, was designed to help GSM leaders in oncology better evaluate and improve their global strategic marketing programs. This 75-page study provides current benchmarks such as:

  • GSM staffing benchmarks by role, by development phase, by number of oncology programs and per $100M in oncology sales
  • Outsourced and in-house labor dedicated to traditional and emerging markets
  • GSM organizational structure
  • Role of the GSM function for activities such as market intelligence, marketing, advocacy and KOL management
  • Spending benchmarks around key GSM activities within marketing, market intelligence and advocacy
  • Oncology GSM spendin
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SOURCE Best Practices, LLC
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