Oncology Global Strategic Marketing: Benchmarking Budget Levels & Service Scope

Add to this increasing regulatory challenges, regional differences and the competitive nature of the oncology marketplace and it is easy to understand why GSM organizations to constantly assess their budgets and resource planning strategies to ensure a successful product launch.

Best Practices, LLC conducted primary research to identify valuable insights for Oncology-GSM leaders in budgeting and strategic planning. Specifically, this new report seeks to help GSM organizations understand the investment levels, marketing activities, timing and structures needed to successfully steer products and pipeline programs through the complex Oncology marketplace.

In addition, the report establishes meaningful benchmarks for the resource levels and the services scope of GSM organizations supporting Oncology products and programs.

Executives can use this study to compare their Oncology-GSM budget, staffing and services levels with industry averages and enhance their current practices.

Study Snapshot

The report is based on research and information provided by Oncology and Global Marketing leaders at 17 pharmaceutical companies, with a wide variety of portfolios.

Also, the study includes both large, established and small, emerging Oncology companies to provide broadest insights.

Key Findings

Early Phases Take Greatest Percentage of GSM Spend: Large companies allocate 57% of total GSM funds, on average, to activities conducted during the early stages of product development, with Phase III accounting for more than half of that amount. Emerging companies, where development is the key focus, spend an average of 81% of GSM funds before launch, with the largest amount at the Preclinical phase.

• Oncology-GSM Spending Continues Beyond Launch: Large and emerging companies continue to invest in Oncology-GSM at and after launch. The large company average is 43% of the total investment allocated to launch and post-launch activities.

• Marketing & Market Intelligence Are the Largest Spending Categories: At large companies, Marketing and Market Intelligence together account for 51% of the total Oncology-GSM budget. Emerging companies focus even more on those two key areas, with a combined 68% of total funds channeled there. GSM spend for the two activities averages $7.8 million at large and nearly $1.5 million at emerging companies. Global Congresses/Conventional Management represents another large investment category—20% of GSM spend at large and 13% at emerging companies.

• Up to 42% Expect GSM Increases for In-Line Product Marketing: More benchmark participants anticipate GSM investment level decreases and fewer anticipate increases for in-line products than for pipeline products. Marketing is projected to as the top area for funding increases, and the top area for cuts is Congresses. Interestingly, companies are evenly split at 33% on whether funding for Ad Boards will go up, down or remain unchanged.