CHAPEL HILL, N.C., Dec. 5, 2011 /PRNewswire/ -- New product launches are continually occurring across various areas in competitive US marketplace. It is critical for organizations to balance the dueling goals of containing costs and producing a successful launch. The on-going challenge that executives face is determining how much to invest, and how to best spend those investments?
56% of the budget for primary care launch is spent before during the launch year, with just 44% invested prior to launch. This contrasts with specialty care launches that invest a greater proportion prior to launch. One experienced executive expressed that "specialty care launches are more frequent and more efficient in terms of required resources at launch. Primary care launch budgets are typically two to four times more resource intensive"
Best Practices, LLC, report New Product Launch Spend: What It Takes to Win in the U.S. Market provides insights on funding levels which are necessary to bring a new product into the U.S. market, during the launch year and for each of the three years preceding product introduction.
This 67 page research study provides more than 700 metrics and an array of several other performance measures that can help brand and marketing leaders as they develop budgets and allocate funds for their new brands. The benchmark class of this research consisted of 27 executives and managers at 23 leading biopharmaceutical companies.
Key areas of study include:
To learn more about the study, download a complimentary summary at http://www.best-in-class.com/dr350.htm
BEST PRACTICES, LLC conducts work based on the simple yet profound 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. Best Practices, LLC has been a leader in pharmaceutical research and consulting for more than 17 years; our clients include 48 out of the top 50 pharmaceutical companies.
|SOURCE Best Practices, LLC|
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