This study has focused on investigating the relationship between performance and market-oriented property (customer-oriented, competitor-oriented), corporate capability (ability to marketing, technology, and collaboration among teams), product charact...
This study has focused on investigating the relationship between performance and market-oriented property (customer-oriented, competitor-oriented), corporate capability (ability to marketing, technology, and collaboration among teams), product characteristic (new medicine, improved new medicine, and generic).
Here is the summary of the study.
First, customer-oriented property has been found to influence on the performance of a new product. It means establishment of corporate goal, regular market research, potential customer demand on products, planning on new products, and improvement on quality of life are playing important roles in developing new products at a pharmaceutical company. Regarding the customer-oriented property, the significance has been recognized by companies in the order of company A-B-C.
Second, competitor-oriented property also turned out to affect the performance of new products. This shows, when a pharmaceutical company develops new products, it is essential to study on competitors' marketing strategy, information on competitors, and immediate reaction on competitors' action. The competitor-oriented property has been understood importantly by companies in the order of company B-A-C.
Third, it is proved that corporate marketing capability influences on performance of new products. It represents it is crucial to have a marketing object, PM's responsibility & right, market research, accumulated DB, landing & distribution networks, sales promotion capability, number of salesman and their ability, preventing cancellation of selection, PR activities, information & knowledge on new products, and sales compensation system.
Marketing capability has been acknowledged as a crucial factor by companies in the order of company A-B-C. Upon investigation into companies' recognition on survey question 2 (PM's responsibility and right), question 9 (Positive PR activity), and question 11 (Compensation system), companies think them important in the order of company A-B-C for question 2, company B-A-C for question 9, company A-B-C for question 11. Regarding question 9, it has been revealed that the answer coincides with the actual data in company B, but it is not in company A and C.
Forthly, corporate technological capability also influences on the performance of the new products. In other words, when a pharmaceutical company develops new product, it is significant to encourage R&D team to display their ability in developing new medicine, new improved medicine and new generic products, to constitute TFT, and to have technological ability, high level of experiment study, abundant Doctors for R&D, plentiful investment on R&D, overflowing technology patents, technological information & data accumulation, and market launching in the best timing.
Companies' recognition on technological capability shows the importance in the order of company A-B-C. On additional examination of companies' recognition from the survey, the result shows the order of company as B-A-C for question 12 (encouraging R&D team for new products), company A-B-C for question 13, company A-B-C for question 14, company A-B-C for question 22 (market launching in the best timing).
Upon supplementary analysis on the survey and actual data for question 18 (abundant Doctors for R&D) and 19 (plentiful investment on R&D), the answers and the actual data for question 18 is proved to be coincided in the order of company C-B-A and for question 19 is proved to be coincided in the order of company A-B-C.
Fithly, the performance of new products is influenced by corporate capability for teams to collaborate with each other. That is, when a pharmaceutical company develops a new product, it is crucial to have a collaboration among top managements, cooperation & adjustment from the other teams, close joint efforts with other domestic venture companies, and an interest from the CEO.
Collaboration capability among teams is recognized as an important category from companies in the order of company A-B-C. In comparison companies' recognition with each other for question 23 (collaboration among top managements), 24 (cooperation and adjustment from the other teams), 25 (close joint efforts with other domestic venture companies), 27 (interest from the CEO), it is ordered as company A-B-C for 23, 24, 25, and 27.
Upon comparison between the survey and actual data for question 25, it is considered importantly in the order of company A-B-C from the survey, but actual data showed strategic joint efforts between domestic venture companies in the order of company B-A-C.
Sixthly, product characteristic appeared to have a good effect on the performance of new products. It means, when a pharmaceutical company develops new products, it is significant to encourage the R&D team to display their ability for new medicine, new improved medicine, new generic products, and to have enough investment in R&D for developing new products, high level of accumulation of technological information & knowledge on new products, and best timing for launching new products.
It is verified that the order which companies consider significant for characteristics of new medicine, new improved medicine, and generic products is company A-B-C.