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Virtual Brand Management: Optimizing Brand Contribution • Cognizant Solution Overview Virtual Brand Management: Optimizing Brand Contribution The Challenge The Change Imperative The pharmaceuticals industry today is facing Brand management is a strategically-focused nothing short of a crisis. For starters, a reduced function that creates and executes marketing number of new drug applications (NDAs) approved strategies that drive awareness, trial, adoption by the Federal Drug Administration (FDA) has and, ultimately, product demand and utilization. created an aging product portfolio, with 50% of The activities assumed by the brand marketing revenues generated in the industry attributable function enable business units to promote to mature brands by 2015.1 Moreover, increased products quickly, cost-effectively and more effi- pricing pressure is leading to lower revenues and ciently. However, traditional brand management investment in critical infrastructure. Add to this approaches often require significant infrastruc- the change in influence patterns over pharma- ture, including many systems and large business ceutical product utilization increasing the clout operations teams to support the activities of payers, patients and health systems, and you executed by a mass of internal and external have an industry in search of a massive makeover. resources. To optimize revenue contribution across the Moreover, conventional marketing approaches lifecycle, life sciences companies need to pull the focus on launch and/or growth-stage brands in following value levers intended to optimize brand an attempt to drive market share and revenue contribution: that must be available to sustain the correspond- ing investment. This creates an environment with Virtualization • predetermined financial contribution thresholds • Innovation and competing priorities for individual brands, • Efficiency within the company’s portfolio. • Effectiveness Yet another challenge pharmaceuticals compa- How can life sciences companies work with nies face is aligning promotional investments strategic partners to optimize revenue contribu- with specific product lifecycle stages. A recent tion across their product portfolios, thereby re- study on commercial models in eight major coun- energizing brand management? Read on. tries, including the UK, Germany, France, Italy and Spain, estimated that $15 billion in promotional cognizant solution overview | march 2012 Virtual Brand Management Overlaid Solution Portfolio optimization is • Decouple competing brand resources driving the need to overlay • Leverage a strategic “best practices” partner model value lever solutions that • Gain sustainability in a dynamic environment focus on improving individual Virtualization brand contribution. Reduce Risk Reduce Cap-Ex, improve Impact on Business utilization • Establish best practices Effectiveness • Align resource utilization • Improve compliance with promotional lifecycle Flexibility of Bottom-line n • Drive top line while • Leverage product Brand impact, resource optimizing costs lifecycle insights allocation, Management market • Reassess KPIs across quality opportunity • Extend promotional lifecycle targeted brands Innovatio • Loss of exclusivity and niche market launch capabilities Reduce Improve Revenue Op-Ex Reduce Cost Efficiency • Benefit from one-source agency model • Optimize lifecycle-stage spend • Variabilize for peak support requirements Figure 1 spending could be more profitably spent else- management of non-core brands (those with where.1 The findings clearly highlight the need low resource utilization contribution, i.e., legacy, for brand teams to establish business objectives nominally differentiated and/or niche market). by individual product lifecycle stages that impact This enables companies to focus on driving core the product’s top-line and/or bottom-line contri- brands that yield the highest level of returns on bution. internal resource contribution in an environment absent of competing priorities. As noted above, virtualization, innovation, effec- tiveness and efficiency (see Figure 1) are driving As a strategic partnership framework, VBM life sciences companies to embrace business must align end-to-end marketing value levers to solutions that focus on portfolio management. optimize brand contribution (see Figure 2). For Their goals: example, our VBM framework incorporates an optimal one-source agency model that consoli- Maximize late-stage and/or niche-market • dates overlapping spend per individual and/or brands with a scalable and complementary multiple brand(s). It also eliminates redundant virtual marketing team. structural cost drivers and reduces total cost • Improve individual brands’ top-line revenue by of delivery. By reallocating strategic resources decoupling resources. from non-core brands, this approach potentially • Reduce cost by transitioning away from tradi- enables double annuity benefits — for example, tional agency models. increases in top-line revenue from “core” brands. • Cut business-cycle time and time to market At the same time, revenues from “non-core” by leveraging product lifecycle insights and brands are optimized by moving to a VBM optimizing resource allocation. resourced model, based on the lifecycle stage of the brand. Virtual Brand Management: Strategic Partnership Model The scalable VBM framework brings together a In our view, virtual brand management (VBM) powerful combination of on-site project man- must be delivered as a scalable commercial agement partnering, best marketing practices, resource optimization framework that empowers leading-edge technology and lifecycle planning to life sciences companies to strategically decouple identify and execute on actionable insights. cognizant solution overview 2 VBM Aligned With Key Marketing Value Levers VBM Solutions Benefits • Agency of record • Creative services • Optimized (consistent and • Medical communications efficient) agency service • Message development/testing model • Brand planning and • Launch planning • Top-line revenue growth customer segmenta- • Tactical planning and metrics driven by scalable tion • Treatment and patient flow marketing resource analysis • Customer segmentation • Stakeholder • Key opinion leaders development • Sustainable healthcare management • Medical congress management practitioner behavioral • Contact management system changes • Portfolio and lifecycle • Mature/LoE/generic transition • Maximized portfolio value management • New product assessments End-To-End Marketing Value Levers Value Marketing End-To-End • Product line extension • Strategic portfolio planning Figure 2 Cognizant’s VBM Advantage Underperforming Brand Portfolio Deliverables • Client’s actively promoted products consist of We exclusively managed entire Brand A promo- mature brands and seek to maximize overall tional budget, developed branded Web site and portfolio revenue. executed a series of projects: • Internal brand marketing resources are con- • Brand positioning and strategy, strategic strained to support existing core launch and drivers, market landscape, therapeutic area growth brands. analysis, brand plan and tactical plans. • Client seeking a strategic marketing partner • Market research support, including qualitative that can help maximize revenue from other and quantitative analysis. portfolio brands, regardless of promotional Development of reports and Web metrics of lifecycle stage. • digital (Web site, media) and print (direct mail, “Brand A” Background e-mail) assets based on brand performance objectives. • 505b(1) NDA combination oral product. • Originally received FDA approval in 2006. • Optimization of digital media plan and account services associated with coordina- Not launched, as sales forecast did not meet • tion, planning, buying and placement of digital internal contribution threshold. media. Benefits • Creative development of static and brand • Optimal one-source agency model. Web-site interactive assets. • Completion of all strategy and content for • Campaign management. launch timing requirements. • Considering additional revenue growth opportunities suggested by our team. cognizant solution overview 3 VBM Portfolio Mapping Framework This framework identifies potential partnering opportunities based on brand stage and contribution. Product Segmentation High • Augment declining • First to second in class budget/support • Effective marketing mix “Core” Brands Growth mode • Extensive Traditional • internal Dedicated or Model Personal promotion focus • • resources large sales force • Superior data • Unique skill sets Low • Declining market Contribution VBM Model “Non Core” • Established class Brands • Generic options • Support launch activities to • Market shaping • Drive niche Minimize rate maximize • Niche market market brand of decline • adoption • Nominal differentiation • Non-personal Early Stage Mid-Stage Late Stage promotion focus Launch Product Lifecycle Stage Mature Figure 3 The Approach VBM team, in collaboration with the client team, focuses on optimizing non-core brands. Our VBM service consists of the following This is where the partnership exploits more components: efficient and effective promotional approaches • Scope definition and data collection: A typi- to maintain or grow share, while streamlining cal engagement kicks off with executive-level costs. This is followed by a diversion of incre- discussions to establish short- and long-term mental internal resources toward core brands. priorities and a definition of project scope. The key elements of a VBM framework encompass During
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