Pharmaceutical Brand Lift: Marketing ROI and Budget Allocation24 May 2011 • by Natalie Aster
Market Publishers Ltd informs that new report “Pharmaceutical Brand Lift: Marketing ROI and Budget Allocation” by Cutting Edge Information has been added to its catalogue.
Imagine the impact of a successfully conceived and executed marketing strategy: heightened brand visibility and reputation as well as increased market share and revenue. Effective brand teams draw a direct link between investment and results - and they prioritize elements in their marketing mixes based on the impact of each activity, channel or promotional tool.
Published: May 2011
Price: US$ 7,695
Report Sample Abstract:
Plans for Future Funding
Cutting Edge Information’s survey asked marketing executives how they would allocate a 10% budget increase if one were granted; their responses varied. Provider support receives the largest amount of the budget increase on average, with 23% of the increase going to provider support activities. This category — which includes activities directed toward assisting physicians in prescribing a medication and in getting the prescription filled — contributes directly to the bottom line. The paperwork associated with reimbursement for these products can be a burden, and many patients cannot afford the full cost of the product. Provider support activities help the physician ensure that these issues do not hinder patients’ access to the product. If writing a prescription for a product means that the patient and the physician’s office will be drawn into time-consuming paperwork, the doctor may select another product instead.
Disease education and patient adherence would receive a large amount of the budget increase, at 13% each. These activities received a relatively low level of initial funding, and the increase would allow companies to fund patient-directed activities outside of mass-market advertising.
The following figure shows that these three activities receive the majority of budget increase in the United States as well. Once again, provider support activities receive the largest amount of the budget increase, with 35% of the total increase directed toward these activities. Disease education and patient adherence total 33% of the budget increase. Other activities would receive a relatively low amount of funding. Notably, no company surveyed reports that it would put any additional money to mass-market advertising in the United States, despite mass-market advertising consuming the largest amount of the current budget. Mass-market activity is expensive, and companies do not see a high return for additional money aimed at these activities.
More information can be found in the report “Pharmaceutical Brand Lift: Marketing ROI and Budget Allocation” by Cutting Edge Information.
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