Companies at bio-pharmaceutical industry today managing multiple products for the same indication is a complex balancing act —especially those that want to prevent one of their brands from gaining market share at the expense of another. Maximizing the potential of each product requires well-crafted marketing strategies and smart resource allocation plans. Marketers must effectively launch and market a new product or brand in a way that challenges external competition yet sustains the sales and value of a legacy brand that the company controls.
Best Practices, LLC conducted extensive research to identify successful strategies and tactics for marketing multiple brands for the same indication or area of use without cannibalizing an existing portfolio. Special attention was given to strategies for managing resources and for avoiding or controlling product cannibalization. Marketers can use the valuable insights and exhaustive data in this research study to carefully plan and implement their marketing strategies to create multiple, high-performing brands.