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The process of closing a sale is far more than just the mechanics of achieving a result, to provide products and services on the one hand and receive financial remuneration on the other. Highly successful sales representatives understand that they need to take into account strategies, personality types, positions and a host of external influences [...]
Unfortunately, the process of decision-making is often based on so many, often irrational factors, that the pharmaceutical sales representative has his or her work cut out. Contrary to some opinion, doctors and healthcare professionals do not operate in an emotional vacuum, even though they often have to keep their emotional sides in check to maintain [...]
By now, pharmaceutical companies must appreciate the importance of key account management training and how they must always be in possession of the latest, cutting-edge marketing information to enable them to actively solicit and then cultivate major, important accounts. There may be a tendency to concentrate on the establishment of a “system,” where a large [...]
Attention and decision-making often come down to how we interact with all the “noise” around us. We are bombarded by noise in our personal lives, on a constant basis. When we enter our professional arena, this noise level tends to increase and as human beings, we can be forgiven for resisting this noise and becoming [...]
Entrepreneurs often worry about how to accurately value and buy a business that is up for sale. Numerous intangibles can often be involved and these can “muddy the waters” when it comes to arriving at a true value. It’s possible to investigate all the financials, refer to benchmarks and talk to experts, valuing leasehold or [...]
If you want to set up productive, lengthy and reliable relationships in business, you have to be able to exert influence without appearing to be trying to position yourself as an authoritarian. Not surprisingly, key account management training should help to show you how you can exert influence in any relationship, but should definitely focus [...]
A typical pharmaceutical company is very complex. Its primary job is to produce cutting edge products, to make a fundamental difference to the livelihood and well-being of the patients. From research to product development, many individuals are involved. Once a product is sanctioned and made available to market, an army of sales representatives must be [...]
Value is very important in any business-to-business relationship and both sides must clearly see its benefits. After all, without value what is the point of the relationship? This value must be apparent on both sides of the coin, in equal amounts, or the relationship is not very likely to survive, let alone prosper. The differential [...]
We have heard in recent times from many of the larger pharmaceutical companies, who tell us how they predict pharmaceutical marketing will change as we go forward. Under pressure from Congress, these organisations are starting to reveal how much money is paid to healthcare professionals during the marketing phase, as they seek to interact and [...]
In order for a business-to-business relationship to be formed, some form of value must be evident and attached to both sides. There is no point in trying to build a relationship without establishing its value. Furthermore, unless value is readily apparent on both sides of the equation and is seen as being equitable, the relationship [...]
The food and beverage industry has always been one of the most attractive for the would-be entrepreneur. When we consider fundamentals, something that each one of us must purchase to survive, food and drink of course comes in at the top of the list. While this may be the case, there are many complex and [...]
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 [...]
In the end, it all comes down to the issue of noise. Noise, quite simply, is a constant bombardment in all our lives. When we enter our professional arena, this noise level tends to increase and as human beings, we can be forgiven for resisting this noise and becoming very jaded on any given day. [...]
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 [...]
Unfortunately, the process of decision-making is often based on so many, often irrational factors, that the pharmaceutical sales representative has his or her work cut out. Contrary to some opinion, doctors and healthcare professionals do not operate in an emotional vacuum, even though they often have to keep their emotional sides in check to maintain [...]
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 [...]
Over the years, a gas station has been seen as a reliable investment, most especially when the price of gasoline was relatively stable and by world standards was seen as low in the United States. In the past, there wasn’t so much pressure to cut down on oil sales or to be selective in our [...]
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 [...]
There certainly is no feeling of freedom to compare with the joy of being self-employed and truly independent. You have the opportunity to determine the amount of time that you put in when you run a business and can prepare for your future accordingly. Proponents agree, however, that it is a significant challenge and that [...]
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 [...]