Abstract
Abstract
Stories, benchmarks the perspectives of 19 brand leaders from a class of 14
leading pharmaceutical companies. This report will help executives gain the
insights necessary to: set re-launch strategy, re-define brand character,
invigorate sales support and set the optimal investment level. After
identifying areas for improvement, your organization can close performance
gaps in re-launching products and employ changes that will support and sustain
change in your organization.
Product Re-launch! It is the hobgoblin of the pharmaceutical and biotech
sector. Few brand leaders ever aspire to this marketing challenge. Yet many
find they and their companies must confront re-launch scenarios - or sacrifice
hundreds of millions of dollars invested in underperforming products.
A hallmark of great brand and lifecycle management excellence is the ability
to successfully re-launch a product that has not achieved its potential upon
market entry. This business situation occurs notably at two critical moments
in a product' s lifecycle:
- The first appearance is product re-launch due to a miscalculation in the
product launch plan. Pfizer' s Zithromax is a notable example of a product
that misjudged the market, corrected pricing, packaging, sales force support
and positioning - and then re-launched. Zithromax is now a multi-billion
dollar annual brand - and a "hall of fame" candidate for re-launch excellence.
- Another venue for re-launch is during market entry of a product
combination or major line extension. In this instance, two existing products
are combined and must launch a new or complementary positioning in the market.
Advair and Prevacid NapraPac are examples of smart combinations.
This Best Practices, LLC benchmarking study probed best practices and lessons
learned in successful product re-launches. This study also includes two highly
successful re-launch case studies: the history and lessons learned from
Zithromax and Wellbutrin - two blockbuster products that nearly failed in the
marketplace during their initial launches. With interviews and extensive
survey data drawn from executives at leading pharmaceutical and biotech
companies, this report serves as a guide to achieve an excellent product
re-launch.
Following, are some of the higher-level key findings from the study. Insights
include:
- 1. Setting Re-launch Strategy: The pathway to re-launch success is paved
by careful analysis of what went wrong during initial launch.
- 2. Selecting Your Pathway To Success: Assess each re-launch as a unique
market situation that requires customized strategy fitting and tactical
alignment.
- 3. Redefining Product Character & Position: Shape a new core message that
serves as the catalyst for the revised product positioning.
- 4. Winning The Hearts & Minds of The Sales Organization: Sales force
strategy needs to fit the re-launch approach and scope to place resources
where they will make a difference.
- 5. Winning The Marketing Investment Resources To Succeed: Product
re-launch success requires the coordination of multiple factors - first of
which is determining the marketing resources required to carry out the
re-launch strategy.
Table of Contents
EXECUTIVE SUMMARY
- Project Background
- Figure S.1-Study Overview
- Study Methodology & Benchmark Class
- Figure S.2-Universe of Learning
- Figure S.3-Benchmark Brands
- Key Findings and Insights
- Figure S.4-Mapping Re-launch Strategy
- Report Structure and Organization
- Path Forward
SETTING RE-LAUNCH STRATEGY
- Building the Business Case for Re-launch
- Selecting your Pathway for Success: Identifying the Best
- Re-launch Strategy or Approach
- Figure 1.2-Approach
- Figure 1.3-Ideal Audience
- Figure 1.4-Mapping Re-launch Strategy
- Figure 1.5-Use History' s Compass
- Align Re-launch Strategy with Market Demand
- Engaging Leadership to Win Support for a Re-launch
- Figure 1.6-Product Leadership
- Considering Lifecycle Opportunities and Risks
- Managing Expectations for the Re-launch
- Figure 1.7-Re-energizing the Sales Uptake Curve
- Winning Staff and Field Support
- Avoiding Group Think
- Brand Team Leadership: Assessing Which Horse to Ride
- Figure 1.8-Changing Brand Teams
REDEFINING PRODUCT CHARACER & POSITION TO IGNITE NEW GROWTH
- Redefining Product Character
- Figure 2.1-Brand Character
- Figure 2.2-Brand Character
- Resetting the Product' s Positioning
- Figure 2.3-Resetting Positioning
- Figure 2.4-Resetting Positioning (cont' d)
- Designing a New Core Message
- Communicating a New Message to Physicians
- Figure 2.6-Physician Communication
- Figure 2.7-Product Re-education
- Maximizing the Portfolio
- Gaining Through Leader Support
- Figure 2.8-Thought Leader Support
- Figure 2.9-Thought Leader Support (cont' d)
- Figure 2.10-Using Publications to Re-position
WINNING THE HEARTS & MINDS OF THE SALES ORGANIZATION TO THE RE-LAUNCH
- Aligning Sales Force Tactics with Product Re-Launch Strategy
- Figure 3.1-Sales Growth Trajectory
- Figure 3.2-Sales Repositioning Trajectory
- Creating Excitement and Support
- Figure 3.3-Creating Excitement and Support
- Figure 3.4-Winning Sales Support
- Shifting Product Placement
- Figure 3.5-Enhancing Product Placement
- Figure 3.6-Product Placement
- Figure 3.7-Marketing Mix Sales & Segments
- Equipping the Sales Force for Re-launch Success
- Figure 3.8-Sales Force Management Tactics
- Shifting Resources to Ensure Success
- Marrying Execution and Systems to Optimize Sales Uptake
- Figure 3.9-Launch Cycle Performance Mgmt
- Training: Engaging the Field on the New Positioning
- Figure 3.10-Aligning Training Tactics
- Figure 3.11-Sales Force Adjustment
- Optimizing Sales Force Promotions through Careful Physician
- Deciles Targeting
- Figure 3.12-Targeting Deciles
MARKETING INVESTMENT LEVELS: WINNING THE RESOURCES TO SUCCEED
- Multi-Faceted Approach to Designing the Marketing Mix
- Figure 4.1-Lessons Learned & Pitfalls
- Figure 4.2-Investment
- Structured Approach to Winning Resources
- Figure 4.3-Organizational Endorsement
- Benchmarking First Launch and the Competition
- Figure 4.4-Re-launch Investment Levels
- Figure 4.5-Investment Levels
- Managing Stigma from the First Launch
- Marketing Mix: Apply Key Marketing Levers to Drive Success
- Figure 4.6-Approach
- Figure 4.7-Marketing Mix by Positioning
- Figure 4.8-Product Differentiation
- Investment Allocation: Strategies to Optimize Resources and Minimize Risk
- Figure 4.9-Marketing Mix Optimization
- Figure 4.10-Marketing Mix-KOLs & Advocacy
- Figure 4.11-Marketing Mix-Key Channels
- Figure 4.12-Sales & Segments
- Figure 4.13-Marketing Mix-Education
- Figure 4.14-Marketing Mix-Other
- Monitor Success: Adjust Investment Strategy to Reflect Post
- Re-Launch Reality
- Figure 4.15-Expected Outcomes
- Figure 4.16-Marketing Mix Shift
CASE STUDIES
- Zithromax
- Wellbutrin
- Lessons Learned
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