Business Insights – Pharmaceutical Sales Force Effectiveness Strategies

Description

Pharmaceutical Sales Force Effectiveness Strategies

Evaluating evolving sales models & advanced technology for a customer centric approach

By: Dr. Ksenija Jakovcic

The social, demographic and economic context in which the pharmaceutical industry operates is changing dramatically, with huge implications for the industry as a whole. All these challenges have major ramifications for the way in which pharmaceutical companies market and sell the medicines they develop. With these challenges comes pressure to gain efficiencies in all facets of the business, but perhaps no aspect of pharma operations is under as much scrutiny as the sales and marketing function. The discrepancy between the growth in sales force size and the decline in prescribing makes sales force effectiveness the top challenge for pharmaceutical sales managers. This report provides insight into the latest sales force effectiveness initiatives, which is underpinned by how biopharmaceutical companies will alter their sales force strategies in the future. This report examines how the sales force, which is by far the largest promotional expense for a typical pharmaceutical company and the largest employee group, will become a key weapon in a competitive environment. It describes in detail how pharma companies, who develop new capabilities and adapt their marketing and sales approaches to target the healthcare network as a whole, will create an advantage compared to competitors who continue to drive the ‘ share of voice ’ model with physicians.
Published: August 2009 – Global.

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