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Does the pharmaceutical industry face the perfect storm in the foreseeable future? It certainly appears as if we are set for one of those re-generational periods, relatively rare occurrences when the very way we approach our daily problems and issues endures a fundamental change. This regeneration will not only affect the pharmaceutical industry either, as [...]
Perhaps more than at any time in recent memory, the pharmaceutical industry is at a crossroads. There are going to be substantial changes ahead as a multitude of forces are working behind the scenes. Comprehensive changes in the United States market are yet to fully unfold, but will undoubtedly have some effect on healthcare markets [...]
How do you see your sales reps, are they underachievers or overachievers? Are you able to motivate them enough, or do you push them too far? Are you aware that they are probably the most significant link in your entire organisation’s product chain? Many of these questions are gaining additional focus as the entire pharmaceutical [...]
Ensuring the quality of medical devices produced by health care manufacturers is one of the most vital aspects in a highly competitive industry in which FDA consulting can make a real difference. Being aware of the relevant compliance regulations will enable companies to achieve and be successful in one of the most tightly regulated world [...]
If you have not engaged in something like this before, buying business assets can be quite a daunting prospect. While it may be somewhat easier than establishing your own operation from scratch, understand that you are taking on, in many respects, the liabilities of somebody who is a complete stranger to you. You can certainly [...]
Many of us can remember our trip to a great seminar, or a multi-day trip to an important convention, with memories of the positive atmosphere and how we were able to become totally enthused by what we were to learn, our motivational engines firing on all cylinders. This is exactly what these events are designed [...]
One of the ongoing challenges facing the pharmaceutical company is the attraction, motivation, management and handling of key salespeople. The company itself has a significant reputation in the marketplace and has allocated certain resources to the development of its reputation and the dissemination of its cutting-edge products. Every organisation is, of course, very dynamic and [...]
Major change in the United States always bring global reverberations and the recent passage of health care reform in that country will no doubt have many repercussions for the global health industry, driving change that will impact all pharmaceutical companies and their marketing efforts. The common marketing landscape has been changing in recent years, in [...]
Don’t have any confusion about it, buying a business for sale is a multi-step process with each step being essential. You should never think about proceeding to the next position until the preceding step is complete and whatever you do, don’t be tempted to short-cut ever. Adequate preparation and time spent revealing everything there is [...]
The role of the pharmaceutical sales representative has often been challenged from a public relations perspective. Some protagonists believe that the representative, as an extension of the pharmaceutical company itself, is overly influential when dealing with a healthcare practitioner, which flows through to a product decision-making process. From time to time, populist media points out [...]
We’re told that the customer is always right, but are we to believe this every single time? To extend this analogy we could assume that we need to pay an equal amount of the utmost attention to every client, all the time? A considerable amount of resources are necessary to service accounts that we would [...]
To establish market superiority in the pharmaceutical sales business requires a large degree of analysis and the establishment of certain criteria to enable the training consultant to analyse effectively and to get the most out of the sales force resource. It’s certainly possible to achieve significant and top class performance, so long as the client [...]
You could argue, in many respects, that pharmaceutical and healthcare consulting firms form the position of a referee, or maybe even an arbitrator, challenging conventions and bringing a real world perspective to bear, both in the boardroom and in the training class. Major challenges face the pharmaceutical company as its strives to exist in an [...]
Maybe for the first time, the pharmaceutical company can no longer depend on the phrase “bigger is better,” as it once was the case that the more people who heard the message, the greater the return. At one time, pharmaceutical companies used to look at each other and judge effectiveness based on how big the [...]
Clients of a typical pharmaceutical company often have a choice when it comes to selection of business partners and may look for a distinct type of relationship in return for further patronage. Therefore, the pharmaceutical company must really comprehend the value that the business of that strategic account imparts and must realise that when it [...]
As it’s estimated that the marketing of pharmaceutical products accounts for up to $25 billion of spending each year, there is a lot at stake for healthcare professionals everywhere. Understandably, a substantial amount of interest has arisen in the methodology used and the tactics employed by pharmaceutical companies as they deploy their sales organisations to [...]
Do you see the prospect of buying an existing business for sale as being a leap in the dark, as this discourages many an enterprising individual? If they have never been involved in such a transaction before, it can seem to be very alien. After all, it is not like buying a more tangible product [...]
There is far too much at stake to take a passive approach to the organisation of a company’s sales force, and senior management should ensure that they are well aware of the effectiveness of the operation and are adequately placed to make changes as and when necessary to improve. It is said that the actual [...]
Any organisation involved in today’s cut throat world of business, knows how important effective implementation is and how those slim margins determine whether or not an organisation will sink or swim. Many stumbling blocks await even the most experienced of all sales executives, threatening the employee’s total productivity, yet it is still so important to [...]
It’s very difficult to get ahead of the game in the pharmaceutical sales business and a training consultant must be able to look at a whole list of different criteria in order to motivate the sales force to succeed. It’s certainly possible to achieve significant and top class performance, so long as the client listens [...]
Sales force deployment can be segmented into a number of different areas and should be analysed, category by category to see how effective the force actually is. Executive training is of primary importance to ensure that the individual is fully up to speed with details on the product, has great personal inter-communication skills and the [...]
While the pharmaceutical market may be in a constant state of flux and change, it seems that there is a definite trend away from the marketing of big brand, wide reach products to more “niche” medicines and that this change seems to be accelerating. An additional challenge is thus presented for the pharmaceutical company sales [...]
The pharmaceutical product marketing industry is very large, estimated at more than $25 billion per year and this emphasises the need for a pharmaceutical company to be active and effective in the arena. The organisation can be as creative or as ground breaking as it likes as it brings new products to the marketplace, but [...]
You need a specific type of skill, a great deal of information and an ability to calculate potential to find out whether a sales force is truly effective, or not. Essentially, the amount of selling time available, based on a realistic allocation of hours and multiplied by the number of people on the team, can [...]
While it may be difficult to categorise the ideal amount of time required to close any sale due to a proliferation of external circumstances, the main goal of a sales executive is to get the prospect to move on to the next stage in an effective buying process. This may not necessarily signify a sale, [...]
Many of us can remember our trip to a great seminar, or a multi-day trip to an important convention, with memories of the positive atmosphere and how we were able to become totally enthused by what we were to learn, our motivational engines firing on all cylinders. This is exactly what these events are designed [...]
The healthcare industry was one of the few growth areas during the recession of 2008 and 2009, and in the United States was front and centre in the news as Pres. Obama’s promised health care reform took a considerable amount of time in Congress. During Pres. Obama’s successful campaign, the healthcare business was much in [...]
Companies the struggle to operate as efficiently as possible quickly realize the negative impact inefficiency has on the bottom line. Productivity will decrease, which will result in a direct loss in company revenue. In order to avoid what could be a company-killer, steps must be taken to ensure that office rules and procedures are well-defined [...]
Pharmaceutical companies understand how tough life can be. They have to answer to many different “bosses,” not all of whom really have anything to do with driving their bottom-line sales. While they are trying to generate and develop meaningful relationships with the most important clients while determining how best to handle key account management, they [...]
A pharmaceutical company can spend a considerable amount of time and effort developing and bringing new products to the market and be rightfully proud of its contribution to the healthcare industry. Such a company can spend enormous sums of money and many a late-night hour as it deals with the necessary consultation and lobbying, just [...]