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 is in a critical position, market wise in relation to government regulators and the end consumer. There is a complex understanding and [...]
Some business practitioners use a metric termed the 80/20 rule, which dictates that 80% of an organisation’s business comes from just 20% of its clients. This can be the subject of conjecture and certain clients are always seen as more important by the pharmaceutical company, due either to their pure volume of sales, their position [...]
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. These are significant [...]
If organised properly, planning is all very well and good with an adequate marketing strategy outlined on paper, but it’s essential to remember that nothing happens unless action is taken. They say that you cannot win the lottery without buying a ticket and this essentially means that you cannot land meaningful sales and revenue unless [...]
The healthcare system represents an extremely complex dynamic and due to its size can be a primary driver of a country’s economic engine. Within this industry, a new product must face complex restrictions and the attention of a variety of different parties. Before a pharmaceutical products can be brought to the market, it faces a [...]
A sales force must be incentivised if it is to be truly effective. 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 [...]
In an increasingly sophisticated and competitive environment, pharmaceutical companies now realise that it is not sufficient to treat clients with a uniform approach and that certain client accounts represent an increased level of importance. If a particular client is very dominant, has a high level of transactions or is otherwise strategically important, they should be [...]
The key to effective marketing essentially lies in taking action. In a ballgame, you will be unable to score a goal if you don’t take a shot and in marketing parlance this can be compared to actually going out into the marketplace and putting theory into practice. The pharmaceutical industry is most competitive and requires [...]
A pharmaceutical company that tries to operate at maximum efficiency while placing many constraints on the heads of its senior management may suffer in an ultra-competitive environment. The pharmaceutical and health-care fields are challenged like few others, as complex and often controversial forces are at play. The introduction of a new product is a long [...]
No amount of creativity or product superiority will be advantageous unless the pharmaceutical company is able to get its product to the market and into the hands of 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, [...]
