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Maximizing the Potential of Multi-Drug Portfolios without Undermining a Legacy Brand
Date:5/5/2011

CHAPEL HILL, N.C., May 5, 2011 /PRNewswire/ -- In today's highly competitive marketplace, bio-pharmaceutical companies often look to expand their product portfolios in the same indication. This "double-dipping" can result in a new brand gaining more profitability at the expense of a more established brand. The challenge for all product and brand leaders is to introduce the new product so that it does not affect the sales of the established brand while remaining competitive.

To help companies to meet this critical challenge, Best Practices, LLC has published "Expanding a Product Portfolio without Cannibalizing an Established Brand," a 61-page report that provides superior marketing and branding strategies for expanding a product portfolio without cannibalizing an existing brand.

While it can be a complex decision, having more than one brand in a therapeutic area clearly pays off for an organization - 96 percent of the study participants realized positive benefits of introducing a new brand treating an indication for which it had an existing product. More than 70 percent of the benchmark class identified market leadership, expanded market share and enhancing brand reputation among physicians as major contributing factors for marketing multiple products.

Participants in the study successfully used a range of positioning strategies to prevent or control cannibalization. Fifty percent or more of the benchmark class rated 10 positioning strategies somewhat effective to very effective at minimizing product cannibalization. Targeting different patient subtypes and aligning with thought leaders are among those positioning strategies rated effective by more than 80 percent of the benchmark class.

Topics covered in this study include:

  • Effective methods of differentiating multiple brands
  • Positioning strategies that minimize product cannibaliz
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SOURCE Best Practices, LLC
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