Navigation Links
Positioning Strategies Effectively Minimize Cannibalization of a Legacy Brand When Expanding a Product Portfolio
Date:9/14/2012

CHAPEL HILL, N.C., Sept. 14, 2012 /PRNewswire/ -- Many leading bio-pharmaceutical organizations have had to overcome the challenge of managing multiple brands for the same indication. While a new product can increase a company's footprint in a therapeutic area, it also can erode the market share of an organization's legacy product. The most common problem associated with marketing multiple brands for the same indication is creating product confusion among internal and external stakeholders.

To help companies to meet the challenge of marketing multiple brands in the same therapeutic area, Best Practices, LLC has published "Expanding a Product Portfolio without Cannibalizing an Established Brand." The 61-page report provides superior marketing and branding strategies for expanding a product portfolio without cannibalizing existing brands.

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.

Participants in the study successfully used a range of positioning strategies to prevent or control cannibalization. After a company introduces a new product in the same area a legacy brand exists, there should be a shift in the marketing activities for the legacy brand, study participants agreed. Activities that most often increase in importance for the legacy brand are sampling, coupons/discounts and direct mail. Those that lose impact are ad boards, speaker training and class building.

Topics covered in this study include:

  • Effective methods of differentiating multiple brands
  • Positioning strategies that minimize product cannibalization
  • Operational changes that drive success when introducing a new brand into a product family
  • Positive and negative impacts of introducing a new brand
  • New product's share of the combined marketing spend during first three years both are marketed
  • Marketing mix for new and legacy products
  • Marketing activities that drive continuing success for legacy brand
  • Best indicators of marketing effectiveness

Participants in this benchmarking research included 28 respondents at 22 leading pharmaceutical, biotech and medical device companies. Product and brand leaders can use this study to review successful strategies and tactics for managing resources and avoiding - or controlling - product cannibalization when marketing multiple brands for the same area of use.

To learn more about this report, download a complimentary report excerpt at http://www3.best-in-class.com/rr1177.htm. For related research, visit our Best Practices, LLC Web site at www.best-in-class.com/

ABOUT BEST PRACTICES, LLC
Best Practices, LLC is a leading benchmarking, consulting and advisory services firm serving biopharmaceutical and medical device companies worldwide. Best Practices, LLC's clients include all the top 10 and 48 of the top 50 global healthcare companies. The firm conducts primary research and consulting using its comprehensive proprietary benchmarking tools and analysis. The operational insights, findings and analysis form the basis for our Benchmarking Reports, databases and advisory services to support executives in commercial and R&D operations.


'/>"/>
SOURCE Best Practices, LLC
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. Enhanced Patient Positioning System Unveiled Further Refining Image Guided Radiation Therapy (IGRT)
2. Dollar $ense: Positioning Hospitals to Succeed
3. ResMed Launches Narval™ CC Mandibular Repositioning Device in the US
4. GP Strategies to Present at the BMO Capital Markets 12th Annual Back to School Education Conference
5. Informex Global Pharma Sourcing 2012 Presents Key Strategies & Insight For Business Success
6. Aethlon Medical Discusses Therapeutic Device Strategies to Address Cancer, Hepatitis-C and Sepsis with the Wall Street Transcript
7. Sales Force Effectiveness in Pharmaceuticals - Targeted Sales Models such as Enhanced Key Account Management (KAM) and Closed-Loop Marketing (CLM) Strategies Drives Sales Force Efficiency
8. GP Strategies Reports Record Revenue of $102 Million for Second Quarter of 2012
9. GP Strategies to Report Second Quarter 2012 Results on August 2, 2012
10. GP Strategies Partners with ATR, Inc. to Provide Advanced Procedure Improvement Technology Solutions to the Process Industry
11. Total Therapeutic Management, Inc. invites directors of quality improvement to learn secrets of provider engagement strategies
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/20/2017)... -- Vivify Health, the pioneer and market leader of remote ... significant patent for the advancement of healthcare delivery from ... health.  This landmark patent provides the company with broad ... position as the leader in remote care.  ... to apply consumer mobile devices, wireless biometrics, EMR integration ...
(Date:4/20/2017)... 20, 2017 Research and Markets ... Pipeline and Market Prospects: Addressing Production Complexities Through Risk ... offering. ... "Global Biosimilar Pipeline and Market Prospects: Overcoming Production Complexities ... in-depth assessment of the current trends in the global ...
(Date:4/20/2017)... 20, 2017 Research and Markets has announced ... Driven by Rapidly Expanding Injectables Market and Increasing Usage of Complex ... ... technologies will rise from USD 20 Billion in 2015 to around ... Delivery Technologies - Innovation Driven by Rapidly Expanding Injectables Market and ...
Breaking Medicine Technology:
(Date:4/21/2017)... ... 21, 2017 , ... Young Asset Protection, an insurance provider ... the greater Pittsburgh metropolitan region, is joining forces with the local chapter of ... children. , Variety the Children’s Charity is a national organization dedicated to empowering, ...
(Date:4/21/2017)... ... 2017 , ... The adage “Show, don’t tell” applies perfectly to Green Builder ... esteemed VISION House demonstration project series. Manifesting the concept of right-sized living, the Flex ... to live affordably and abundantly without unduly taxing the resources of our beautiful planet. ...
(Date:4/21/2017)... , ... April 21, 2017 , ... ... it’s been named Agency of Record (AOR) for Theravent, Inc. , the ... snoring. Theravent’s parent company, Foundation Consumer Healthcare, is now working to expand distribution ...
(Date:4/21/2017)... ... 2017 , ... Crossover Symmetry , an evidence based ... lifestyle company that provides Human Performance Training and education to tactical athletes. Together ... military officers and others in service through the development and conditioning of overall ...
(Date:4/21/2017)... ... ... Alive for Wellness is a group of clinical professionals and ... Alive team uses advanced behavioral sciences treatment modalities to accomplish their goals. ... struggle is based on 10 modalities of treatment that include: , ...
Breaking Medicine News(10 mins):