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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 [...]
Proper incentivisation is critical to the effectiveness of an organisation’s sales force. This must be correctly approached however, as it is often poorly thought out or even bypassed, leading to lacklustre results, a reduction in morale and the inefficient use of a key resource. It is not good enough for a pharmaceutical company to rest [...]
All the work that you put into creating and positioning the product will be of no use unless the pharmaceutical company can successfully market its products to the end-user. It is so important to choose a top notch sales and marketing team, training them in the overall benefits and value of the products, as well [...]
Our healthcare system is extremely complicated, with a lot of moving parts, but is nevertheless one of our most important economic drivers. Within this industry, a new product must face complex restrictions and the attention of a variety of different parties. Before a solution to the patient’s problem may be presented, it has to face [...]
While straightforward economics may dictate that a pharmaceutical company’s bottom line is really driven by the need to sell its products for monetary gain, a more holistic view should be taken. The company occupies a key position, from a marketing perspective, between the government and other regulators and ultimately the patient. There is a complex [...]
Few industries are as competitive or are as subject to complex external dynamics as the pharmaceutical and healthcare fields. While a pharmaceutical company strives to be on top, it must at the same time push the boundaries without overstepping, satisfy the best scientists available, deal with government restrictions and be successful economically. Faced with so [...]
Proper incentivisation is critical to the effectiveness of an organisation’s sales force. However, the methods of incentivisation are often misinterpreted, poorly devised or glossed over, ultimately leading to low levels of efficiency and morale, poorly motivated individuals and lacklustre results. The pharmaceutical company may be a leader in its field, be very creative and with [...]
The 80/20 rule is a metric used within the business world which reveals that fully 80% of all business can be attributable to only 20% of the actual clients. Whether this is essentially correct or not, it is certainly true that some clients take on additional importance in the eyes of the pharmaceutical company, whether [...]
All the work that you put into creating and positioning the product will be of no use unless the pharmaceutical company can successfully market its products to the end-user. The selection of a productive sales and marketing team is critical to the survival of the company and this team must be adequately trained in not [...]