A new product launch strategy (NPLS) model for pharmaceutical companies
Trim, Peter R.J. and Pan, H. (2005) A new product launch strategy (NPLS) model for pharmaceutical companies. European Business Review 17 (4), pp. 325-339. ISSN 0955-534X.
Abstract
Purpose The purpose of this paper is to make explicit how marketers employed in the pharmaceutical sector can ensure that the company is positioned in the industry as a result of a sustainable competitive advantage being achieved. Various factors are highlighted, including high research and development costs, stringent government regulations and cultural factors such as religion. Design/methodology/approach The new product launch strategy model outlined in this paper was developed from both secondary and primary sources. A literature review was undertaken, a number of in‐depth personal interviews and a focus group session were conducted, which involved managers within a pharmaceutical company. The research strategy encompassed the case study method and the NPLS model was validated and can be viewed as generalisable. Findings It is clear from the research undertaken that some marketing models are viewed as being too complex; however, it is generally appreciated that marketing models can be used to interpret complex relationships that are evident in a marketing system. Research limitations/implications Two weaknesses associated with the model were identified. First, the assumption that there was a one‐way relationship between the strategic launch decisions and the tactical launch decisions and, second, a feedback mechanism was absent that would provide users of the model with a means for evaluating their decisions and identifying alternative strategies and tactics. The model was amended and a feedback mechanism was introduced. Practical implications The NPLS model can be used by marketing practitioners to enhance communication between corporate level staff and subsidiary level staff, and can be used to implement and/or facilitate the strategic marketing concept within a pharmaceutical company. The model can also be used to focus attention on risk reduction/elimination associated with market entry. Originality/value The NPLS model is an addition to marketing knowledge and can assist marketing academics and researchers to understand better how marketing models can be constructed and implemented. The model can also be used by marketing practitioners employed by pharmaceutical companies to make tactical and strategic decisions; to evaluate a new product launch strategy; and to devise international marketing entry plans and strategies.
Metadata
| Item Type: | Article |
|---|---|
| School: | Birkbeck Faculties and Schools > Faculty of Business and Law > Birkbeck Business School |
| Depositing User: | Sarah Hall |
| Date Deposited: | 18 Jan 2021 17:11 |
| Last Modified: | 02 Aug 2023 18:07 |
| URI: | https://eprints.bbk.ac.uk/id/eprint/42631 |
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