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Managed Markets Account Management: Assessing the Performance of Account Executives
Best Practices LLC, Oct 2009, Pages: 52
This study was conducted to identify common performance measurement practices across geographies and hierarchy, provide insight into effective evaluation of the function and determine measures that drive functional success.
Today's market driven environment has made performance assessment of managed market account executives complex and critical. The analyst has conducted this in-depth study to: identify common performance measurement practices across geographies and hierarchy, provide insight into effective evaluation of the function and determine measures that drive functional success.
Industries Profiled:
- Pharmaceutical
- Health Care
- Biotech
- Manufacturing
- Consumer Products
- Media
PROJECT METHODOLOGY AND STUDY OBJECTIVES:
Research was conducted through survey and interviews of thirty-two participants, sixteen of whom were large research-based Pharmaceutical companies of the world.
Key study objectives include:
1. Identifying common practices in measuring Managed Markets account executive performance.
2. Gaining insight into the principles of effective measurement of this function.
3. Determining what specific measures are used to drive successful activity in Managed Markets account management.
KEY FINDINGS:
1. Structure and Organizational Alignment- Maintaining separate groups with responsibility for Managed Market strategy and/or marketing often brings to bear the perspectives of the brands and therapeutic areas. However, co-ordination and co-operation between them is hard.
2. Performance Measurement- The variety of metrics used for performance assessment and variability of its effectiveness often reflects in the difficulty of the task.
3. Metrics: Profitability vs. Sales- Executives split over the decision whether to evaluate on the basis of sales or profitability, although favoring profitability simplifies measurement.
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