The Evolution of Pharmaceutical Sales Strategies Continues

  • ID: 4421379
  • Report
  • 49 pages
  • Datamonitor Healthcare
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Pharmaceutical sales forces have evolved from the traditional structure, which was dominated by considerable numbers of field-based representatives detailing a range of products to different physicians on a regular basis. Recent market events, such as the global recession, a number of significant patent expiries, a changing customer base, and the increasing difficulty in gaining access to customers, have meant that the pharmaceutical industry has had to adopt new sales force approaches in order to survive. These changes have been both driven and facilitated by the proliferation of new technologies, such as smartphones and tablets, which have prompted companies to develop innovative new sales approaches, although the execution of these strategies has met with varying degrees of success.

One of the main trends driving the evolution of the pharmaceutical sales force has been the advent of the key account management approach. While this has been implemented in response to the changing market environment, it has been aided by a second emerging sales force trend: the use of multi-channel sales and marketing. Despite these changes, the traditional sales representative is still seen to have a role; however, many companies are using contract sales forces to maintain their presence in this way rather than continually spending time and resources re-training and re-deploying their own employees.
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1 EXECUTIVE SUMMARY

2 TRADITIONAL SALES FORCE APPROACHES HAVE HAD TO EVOLVE
  • There have been a number of key changes in the market
  • Pharmaceutical companies are fundamentally changing
  • Bibliography
3 KEY ACCOUNT MANAGEMENT ROLES ARE EVOLVING TO MEET CUSTOMER NEEDS
  • Key account management offers a centralized approach to customer interaction
  • Key account management has been implemented to varying degrees
  • Companies will continue to refine their key account management approaches
  • There will be some critical challenges to overcome
  • Future perspectives
  • Bibliography
4 MULTI-CHANNEL MARKETING AND SALES ARE DRIVING CHANGE
  • What is multi-channel marketing and sales?
  • A multi-channel approach delivers a range of benefits
  • There are some challenges to overcome for effective multi-channel marketing
  • Multi-channel marketing must be at the heart of the company to be successful
  • Bibliography
5 CONTRACT SALES ORGANIZATIONS PLAY A VALUABLE ROLE
  • Contract sales organizations play an important role in pharmaceutical sales
  • Contract sales organizations provide a number of advantages for pharmaceutical companies
  • Companies must ensure they do not become over-reliant on contract sales organizations
  • It is expected that contract sales organizations will continue to play an important role
  • Bibliography
6 SEVERAL KEY TRENDS WILL HAVE AN IMPACT IN THE SHORT TERM
  • There are key trends expected to drive pharmaceutical sales strategies
  • Companies will have to become more focused in their efforts
  • Data will become increasingly important
  • “Pull” rather than “push” sales and marketing will become more common
  • Close cross-functional working will be critical for future success
7 Bibliography

List of Figures
Figure 1: Overview of the main forces driving change within the pharmaceutical sales model
Figure 2: Pharmaceutical customer approaches: differences between the sales force approach and key account management
Figure 3: Pharmaceutical key account management evolution stages
Figure 4: Critical success factors for effective pharmaceutical key account management
Figure 5: Examples of customer mindsets in the pharmaceutical industry
Figure 6: Example of a pharmaceutical customer-targeting matrix
Figure 7: Ways in which pharmaceutical companies can address the key account manager talent shortage
Figure 8: Drivers and resistors for pharmaceutical multi-channel strategies
Figure 9: Different marketing and sales channels currently being used in the pharmaceutical industry
Figure 10: Key benefits of a multi-channel approach
Figure 11: Key multi-channel marketing challenges facing the pharmaceutical industry
Figure 12: Key drivers and resistors for pharmaceutical companies’ use of contract sales organizations
Figure 13: Main advantages of contract sales organizations
Figure 14: Key pharmaceutical sales force trends expected to emerge over the next three to five years
Figure 15: Innovations expected to affect sales force analytics
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