Full Title: Critical Success Factors at Product Launch: Evaluating the Influencers of First-Year Market Share
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Introduction Understanding the product, market and corporate characteristics that influence the success of a product launch is essential in designing the optimum marketing strategy. The aim of Datamonitor’s study Critical Success Factors at Product Launch is to identify the key influencing factors that shape the probability a drug will be successful in rapidly gaining first year market share. Scope - Comparative analysis of over 200 drug launches over the last five years, encompassing six countries, 63 marketers and products from 61 indications
- Executive presentation analyzing in detail the anatomy of successful launches and the influence of clinical, market and promotional factors
- An Excel-based Interactive Analysis Tool enabling bespoke comparative analysis of more than 7,500 data points across 176 product launches
Highlights On a national level, Spanish launches were associated with the highest average first year market share (as defined as the share of ATC3 level sales gained during the first five quarters after launch) at 13.3%. This contrasted heavily with the UK, where on average, products would gain a market share of just 3.6%. A strong therapeutic presence is the key contributor to success in product launch, and can overcome a weaker clinical profile or poor position to market in driving success in most markets. Companies with a weak therapeutic presence must seek alliances to maximize their market potential. To establish a successful launch requires a promotional share of ’voice’ of over 30%. However, companies must weigh up the balance between promotional spending and market success to ensure sufficient return on investment. Reasons to Purchase - Assess the likely factors that will influence the success of your new drug launch on a country-by-country basis
- Determine the best marketing strategy for your new drug launch through understanding the likely return on promotion and influence of promotional mix
- Benchmark the success of product launches in your market to improve future launch planning and forecasting
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