2014

Global Medical Device Marketing Groups Respond to Internal Cost Pressures

CHAPEL HILL, N.C., Jan. 17, 2013 /PRNewswire/ -- Savvy medical device marketing organizations adapt to the lifecycle of the company and its products. For example, nearly 60% of large, established medical device companies do not report up to a global marketing head, preferring a decentralized approach with marketing activities organized and executed by business units. Emerging medical device companies, on the other hand, employ a head of global marketing to align the 80% or more of marketing that takes place in the United States, according to recent benchmarking research.

In this environment where every expense is scrutinized, however, decentralization increases the required investment for marketing, a traditional cost center, in large and maturing companies. "Medical Device Marketing Excellence: Optimizing Group Structure & Operations," a primary research study conducted by Best Practices, LLC, examines the ways medical device marketing leaders are tackling their increasingly global operations with limited resources by updating the structure, refocusing on high-value activities, and shifting staff to critical emerging markets.

Download a complimentary white paper at http://www.best-in-class.com/rr1196.htm that includes selected best practices drawn from extensive primary research with marketing leaders from 15 medical device companies.

Notable insights of the research include:

  • In the large medical device segment, 57% of companies conduct social media marketing from a center of excellence. However, 43% of companies indicate social media activities are still done at the business unit level.
  • 75% of emerging medical devices companies in the study conduct new product evaluation and analysis at the corporate level. New product launches and meeting planning are also done primarily at the corporate level for these emerging companies.

The full 71-page report contains more than 100 benchmark metrics segmented by large and emerging medical device marketing organizations and 12 executive narratives, providing managers and directors with staffing and budget resource levels, structure guidance, marketing activities by market location, and resource and structure trends for 2013.

For more information on optimizing medical device marketing structure and operations, contact us at 919.403.0251 or at bestpractices@best-in-class.com.    

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 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 reports, database, and advisory services to support executives in commercial and R&D operations.

SOURCE Best Practices, LLC



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