CHAPEL HILL, N.C., Dec. 10, 2010 /PRNewswire/ — Managing
multiple brands for the same indication is a complex balancing act
for bio-pharmaceutical companies. While a new product can translate
into expanded market share and improved reputation with physicians,
it can also result in a new product gaining market share at the
expense of the organization’s legacy product.
With the objective of identifying successful strategies and
tactics for marketing multiple brands for the same indication or
area of use, Best Practices, LLC has published a new study, “Expanding a Product
Portfolio without Cannibalizing an Established Brand.” This
61-page report presents the strategies for creating well-crafted
marketing strategies and smart resource allocation plans that will
deliver multiple high-performing brands.
The research project clearly illustrated that after a new
product is launched, spending priorities for the legacy product
must shift. On average, sampling, coupon-discount programs and
direct mail become more important, while ad boards, class-building
activities and speaker training become less important for the
legacy brand’s continued success.
Key topics addressed in this report 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 & 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 & legacy products
- Marketing activities that drive continuing success for legacy
brand - Best indicators of marketing effectiveness
- Pitfalls, failure points and best practices
Participants in this benchmarking res
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