Unlocking Business Triage: Managing Strategic Options for the Growth of Mature Brands in Pharma Business

Pharmaceutical companies typically focus their growth strategies on launching new products. These new product launches receive maximum resources, both in promotional activities and field force engagement.

The next category comprises of existing brands in their growth phase.
These products receive relatively lower promotional focus and field force time compared to new product launches.

The third category includes mature brands, often termed “cash cows,” characterized by declining growth but contributing substantially to an organization’s revenue and profits.

Mature products in most organizations are left on their own with minimal or no promotional activities.
Even field force motivation is very low in promoting these products, as there is nothing new provided to promote these brands. Consequently, mature brands start to degrow, and pharmaceutical companies consider it a fate accomplished.

However, in reality, many mature products have the potential for growth, and their growth is stunted only due to a lack of organizational focus. Effectively managing the growth of mature brands necessitates strategic considerations.

Here are some approaches that can galvanize the growth of mature products:

1. Augmented Marketing:
Highlight additional features or benefits to enhance the brand’s appeal or position the brand as a co-prescription of widely use product category

2. Brand Repositioning:
Shift the perception or target audience to revitalize the brand’s market presence.

3. New Indication Promotion:
Explore alternative medical uses, potentially expanding the brand’s utility.

4. Digital Marketing:
Leverage online channels to reach a wider or more targeted audience through digital media.

5. Rural Marketing:
Recognise untapped potential in less urbanized areas, creating avenues for growth beyond traditional markets.

These are just few strategic approaches which can rejuvenate mature brands, extending their lifecycle and sustaining revenue streams in a dynamic pharmaceutical landscape
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