CHAPEL HILL, N.C., May 8, 2017 /PRNewswire/ -- Global teams may call the shots for new product development in pharmaceutical companies, but it is the regional team's insights that can make or break a product's launch in key local markets.
That dynamic explains one metric in a new Best Practices, LLC study: 39 percent of a regional New Product Planning (NPP) team's budget is spent on market research. Because of the push for regional consumer and market insights, most regional NPP teams in the study started surveying the disease state landscape for a new product as early as Phase I - before conducting pricing, managed care, and patient flow research in Phase II, according to participants in the new study.
The study, "New Product Planning Excellence: Structure & Activities that Drive Profitability & Growth" illustrates the crucial balance between global and regional team development activities. The report addresses 50+ activities involving market planning, market research, medical affairs and brand strategy. In particular, the study highlights when global NPP and regional NPP teams conduct these key activities during the development process.
This comprehensive, 133-page report serves as a reference point for new product development executives as they determine the number of employees, budget amount and timing of key activities for their NPP groups.
For this study, 24 leaders from 21 top biopharmaceutical companies were engaged through a benchmarking survey. In-depth interviews were conducted to gather more detailed information.
Topics addressed in this study include:
- The State of New Product Planning
- New Product Planning Structure
- Roles, Responsibilities, Interaction & Influence
- New Product Planning Activities: Key Patterns And Activities
- New Product Planning Activities: Marketing Planning
- New Product Planning Activities: Market Research
- New Product Planning Activities: Medical Affairs
- New Product Planning Activities: Brand Strategy
- New Product Planning Resources
- New Product Planning Value And Impact
Download a complimentary report summary at: http://www.best-in-class.com/rr1446.htm.
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.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/regional-new-product-planning-teams-key-to-local-market-success-with-product-launches-in-pharmaceutical-industry-300453399.html
SOURCE Best Practices, LLC