Role of Global Strategic Marketing Critical to Oncology Market Growth Around the World
CHAPEL HILL, N.C., Nov. 14, 2014 /PRNewswire/ -- As the oncology market continues to grow around the world, the pharmaceutical industry is relying on the global strategic marketing function to manage all the aspects of successfully launching a new oncology product.
The regulatory environment, regional differences and the competitive nature of the oncology marketplace present significant challenges for Global Strategic Marketing (GSM) organizations. The evolving nature of these challenges pushes GSM organizations to continually assess their budgets, investment strategies, staffing, structure and scope of services. This assessment is especially critical for new markets.
The study found that, on average, large companies dedicate 25 percent of Oncology-GSM staff to areas outside mature markets, with most serving developing, high-growth markets, such as India and China. But only 12 percent of the surveyed companies use discounted labor sources in emerging markets to support their key Oncology-GSM activities.
The study, Oncology Global Strategic Marketing: Benchmarking Budget Levels and Service Scope, was designed to help GSM leaders in oncology better evaluate and improve their global strategic marketing programs. This 75-page study provides current benchmarks such as:
- GSM staffing benchmarks by role, by development phase, by number of oncology programs and per $100M in oncology sales
- Outsourced and in-house labor dedicated to traditional and emerging markets
- GSM organizational structure
- Role of the GSM function for activities such as market intelligence, marketing, advocacy and KOL management
- Spending benchmarks around key GSM activities within marketing, market intelligence and advocacy
- Oncology GSM spending by phase of clinical development
Pharma leaders who oversee or work in Global Strategic Marketing for Oncology can use this study to understand the investment levels, marketing activities, timing and structures needed to successfully steer products and pipeline programs through the complex oncology marketplace. The data are presented in two segments: large pharma and emerging companies.
A complimentary excerpt of the research report is available at: http://www3.best-in-class.com/rr1321.htm.
Research participants included Global Strategic Marketing leaders supporting oncology organizations at 17 companies, including 11 of the Top 25 pharma companies. The study included both large, established and small, emerging oncology companies to provide broadest insights.
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. For more information about Best Practices, LLC visit our Web site at www.best-in-class.com.
SOURCE Best Practices, LLC
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