Shifting Marketing Resources in Medical Device Organizations Key to Cutting & Growing Simultaneously
CHAPEL HILL, N.C., Dec. 20, 2013 /PRNewswire/ -- Developing and maintaining an efficient and effective marketing group within the Medical Device industry is increasingly challenging due to today's plethora of global regulations and competitive challenges. In this environment where every expense is scrutinized, leaders must understand optimal resource and staffing levels to help them to prioritize roles and responsibilities that will be beneficial to the overall growth of their organization.
Recent research by benchmarking firm, Best Practices, LLC found that many Medical Device companies are faced with the dueling pressures of controlling or reducing marketing costs while increasing sales and profits. This requires parallel tactics of cutting, shifting, and expanding in different parts of the global enterprise. Research also showed that shifting marketing resources from lower growth regions and expanding them in higher growth markets will be key to cutting and growing simultaneously.
The report, "Medical Device Marketing Excellence: Optimizing Group Structure & Operations," presents Medical Device marketing benchmarks around budgets, and staffing (by geography and company revenue). It also reviews how marketing functions are organized and highlights anticipated trends such as increased or decreased spending and staffing on a range of marketing activities.
Key study topics include:
- Optimal Resourcing And Staffing
- Outsourcing And Off-Shoring Levels
- Key Marketing Activities To Undertake
- Future Growth In Mature Vs. Emerging Markets
This benchmarking research drew participation from 15 Medical Device leaders from 15 companies. The study contains over 400 metrics and presents two segments - large companies and emerging companies - to inform marketing leaders from both large and small companies.
To access the full report, or to download a complimentary summary containing insights found in this report, click on the following link: http://www.best-in-class.com/rr1256.htm.
For more information on other recent primary research studies, contact us at 919.403.0251. For related research, visit our Best Practices, LLC website at http://www.best-in-class.com/.
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. Best Practices, LLC believes in the profound principle that organizations can chart a course to superior economic performance by studying the best business practices, operating tactics and winning strategies of world-class companies.
SOURCE Best Practices, LLC