Is anyone else noticing a strange trend emerging in our industry? Brands that have the opportunity to capitalize on the benefit of a franchise strategy are opting not to do so in favor of a more self-serving, siloed approach. Before I go into some examples here, let me clarify our definition of a franchise-brand as one that treats the same condition as another product in your company or one that is a franchise unto itself with multiple indications.
Ok, here’s an example. Just a couple of days ago I saw a press release announcing positive data in a new indication for a marketed oncology product. What I found really perplexing was that nowhere in this press release had the company bothered to point out that the unique mechanism of this drug was proving useful in a number of different cancers. The announcement was strictly concerned with this one indication and not the larger brand. This was a big miss if you think about it.
This product has 6 other indications in the pipeline—they would have been setting the stage for all the other teams and increasing the cumulative effectiveness of their marketing conditioning efforts at the same time. We have seen other pharma companies with two drugs in the same space that not only have different marketing teams, they also have different sales forces and even agencies. Can anyone really believe that this is an optimal approach?
If you’re working on a franchise-brand, you really need to take a step back and look at the big picture. The decisions you make for your brand or indication can have far-reaching implications that dilute the impact of your overall marketing efforts.