Sales force effectiveness in pharmaceuticals targeted sales models such as enhanced key account management (kam) and closed-loop marketing (clm) strategies drives sales force efficiency
Check for Discount on Sales Force Effectiveness in Pharmaceuticals - Targeted Sales Models such as Enhanced Key Account Management (KAM) and Closed-Loop Marketing (CLM) Strategies Drives Sales Force Efficiency report by GBI Research.
Beginners Guide to TikTok for Search - Rachel Pearson - We are Tilt __ Bright...
Sales force effectiveness in pharmaceuticals targeted sales models such as enhanced key account management (kam) and closed-loop marketing (clm) strategies drives sales force efficiency
1. Sales Force Effectiveness in Pharmaceuticals - Targeted Sales
Models such as Enhanced Key Account Management (KAM) and
Closed-Loop Marketing (CLM) Strategies Drives Sales Force
Efficiency
Leading business intelligence provider GBI Research has released its latest research report,
entitled “Sales Force Effectiveness in Pharmaceuticals – Targeted Sales Models such as
Enhanced Key Account Management (KAM) and Closed-Loop Marketing (CLM) Strategies
Drives Sales Force Efficiency”. The report provides key data, information and analysis of trends
and practices adopted to improve sales force effectiveness in the pharmaceutical industry. The
report provides a comprehensive insight into the strategies adopted by pharmaceutical companies
to improve their sales force effectiveness. It provides case studies and sales force strategies of
pharmaceutical companies and IT solution providers. The report also analyzes the opportunities
and challenges that could play a role in shaping the future of sales force effectiveness. The report
finishes with a detailed analysis of 12 key pharmaceutical companies, with respect to their sales
efficiency. This report is built using data and information sourced from proprietary databases,
primary and secondary research, and in house analysis by GBI Research’s team of industry
experts. At present, the pharmaceutical industry is changing due to expensive promotion and
research and development (R&D) campaigns, which are crucial to examine opportunities to
simplify and streamline operations in order to align businesses towards the needs of customers.
In this situation, sales force effectiveness drives the success of pharmaceutical companies. Sales
force effectiveness begins with developing an effective sales strategy, sizing and structuring the
sales force, designing incentive compensation plans, setting goals, managing sales performance,
recruiting sales people, motivating the sales force, building a potent sales force culture, and
coordinating sales and marketing. Pharmaceutical companies should have the best sales force to
generate the most sales, and should also know how to integrate strategic business objectives with
selection program strategies. Due to the changing pharmaceutical market environment, sales
force roles are also changing. Sales representatives in leading companies now have the
responsibility of delivering marketing messages and offering information and educational
opportunities to physicians to build and change behaviors and relationships. Physician demand
for more detailed, comparative and customized information from pharmaceutical sales
representatives is also increasing. As a result, new sales representatives should have the right set
of skills to play these varying roles. In recent years, there has been a change in direction in the
pharmaceutical industry about methods for effectiveness selling. The industry has recorded a
number of sales job cuts, and as a result, sales forces in the US and Europe has reduced
drastically. This reduction has forced pharmaceutical companies to change the size, structure and
sales strategies of their sales forces. In addition, pharmaceutical companies are now under
pressure to generate more profits with smaller sales forces. To achieve this, pharmaceutical
companies are adopting strategies to remain competitive in the market.
Scope
The need for sales force effectiveness for pharmaceutical companies and the factors that
affect it.
2. A study of major strategic sales models with case studies that enhance sales force
effectiveness.
Sales force sizing, recruitment strategies, and key sale force training and compensation
models.
An analysis of the competitive landscape, including profiles of major companies such as
Pfizer, GlaxoSmithKline, Teva Pharmaceuticals, Novartis, Merck & Co., BMS, Johnson
& Johnson, Eli Lilly, AstraZeneca, Abbott and Sanofi.
Reasons to Buy
Develop key strategies to reduce expenditure on sales forces and increase sales force
effectiveness
Optimize your organization’s resource allocation by identifying key models to size,
recruit and train sales forces
Develop and understand how companies use tools and models to improve sales force
effectiveness
Make informed decisions with respect to sales force training and compensation
Make more informed business decisions from the insightful and in-depth analysis of sales
force effectiveness sales models and the factors that shape them
Additional Information:
Knowledge is key for pharmaceutical sales forces, who should be offered training and incentives
to increase sales and improve productivity, says a new report by healthcare experts GBI
Research. This new report states that the importance of internal training cannot be understated,
with the significant investments, advanced training techniques, and use of external training
consultants by major pharma companies playing testament to this.
In recent years, the sales industry within the US and Europe has recorded sales job reductions as
a result of the global economic recession, and this has led to a greater demand for effective
selling methods. Companies forced to downsize their sales forces still aim to secure high sales
figures, and are therefore pressurized to develop their sales people to continue to deliver
profitable sales growth.
The short term motive behind sales force training is to increase sales and improve productivity.
However, the long term motive is to motivate the sales force, build better customer relations and
effectively improve employee retention rates. Incentive management is a significant tool that
encourages sales activities, but also helps to improve longer term sales force effectiveness.
Incentive management has not always been implemented as a high priority, and was not always
properly integrated into the sales management process. However, a large number of companies
are now implementing incentive management solutions that provide the flexibility to quickly
adjust compensation plans in order to improve sales force performance. This solution has the
ability to adjust to specific company needs, and allows for the integration of existing processes
and systems.
3. Performance dashboards are an important and powerful agent of organizational change,
translating organizations’ strategies into objectives that are customized to every individual in the
organization. Dashboards contain various performance indicators which are used to monitor
business processes through analyzing the performance of sales representatives and customer
response. This allows sales representatives to compare their benchmarked performance against
peer averages, and can help shape training and incentive schemes to improve certain aspects of
sales performance.
Get more information @ http://www.reportsnreports.com/reports/181581-sales-force-effectiveness-
in-pharmaceuticals-targeted-sales-models-such-as-enhanced-key-account-management-kam-and-
closed-loop-marketing-clm-strategies-drives-sales-force-efficiency.html
Report Details
Published: July 2012
Price: Single User License: US$3500 Price: Corporate User License: US$10500
Table of Contents
1.1 List of Figures
1.2 List of Tables
2 Sales Force Effectiveness – Executive Summary
2.1 Sales Force Training and Incentive Management Systems Play an Important Role in
Increasing Sales and Improving Productivity
2.2 Large and Medium Sized Pharmaceutical Companies are Implementing Key Account
Management (KAM) Strategies to Enhance Effectiveness
2.3 Recruitment Process Outsourcing Provides a Strategic Advantage and its Usage will
Increase
2.4 Sales Force Effectiveness Dashboards Developed to Function as a Performance Comparison
3 Sales Force Effectiveness in Pharmaceuticals – Introduction
3.1 Overview
3.2 GBI Research Report Guidance
4 Sales Force Effectiveness in Pharmaceuticals – An Overview
4.1 Sales Force Effectiveness Required
4.1.1 Declining Return on Investment (ROI) for R&D Expenditure
4.1.2 Pharmaceutical Company Staff Reductions
4. 4.1.3 Changing Product Portfolios
4.1.4 Difficulty Attaining Regulatory Approval
4.1.5 Specialty Care Focus
4.1.6 Industry Consolidation and Changing Competition
4.1.7 IT Increasingly Applied to Sales Models
5 Sales Force Effectiveness in Pharmaceuticals – Role of New Sales Models and Strategies
5.1 Implementation of Strategies in Pharmaceutical Companies
5.1.1 Implemented Sales Force Effectiveness Strategies
5.1.2 Future Implementation of Sales Force Effectiveness Strategies
5.2 Current Sales Models for Enhancing Sales Force Effectiveness
5.2.1 KAM Process
5.2.2 Types of KAM
5.2.3 Case Studies
5.3 Contract Sales Outsourcing
5.3.1 Contract Sales Representatives
5.3.2 Sales Team Recruitment and Training
5.3.3 Sales Data Analytics and Management
5.3.4 Shared Sales Teams and Telesales
5.3.5 MSLs
5.3.6 Deployment Sales Force Across Product Lifecycle
5.3.7 The Evolving Model
5.3.8 Case Study
6 Sales Force Effectiveness in Pharmaceuticals – IT Applications in Sales Models
6.1 Customer Relationship Management (CRM)
6.2 Sales Force Automation (SFA)
6.2.1 Pharmaceutical CRM Vendors
6.3 Closed Loop Marketing (CLM) Systems
6.3.1 Benefits for Sales and Physicians
6.3.2 Benefits for Analytics
6.3.3 Benefits for Legal and Regulatory Departments
6.3.4 Benefits for Marketing
6.3.5 CLM Vendors
6.3.6 Case Studies
6.4 Predictive Modeling in Sales and Marketing
6.4.1 Case Studies
6.5 Examining Strategies
6.5.1 Promotional Response Model
6.6 Sales Force Effectiveness Dashboards
7 Sales Force Effectiveness in Pharmaceuticals – Sales Force Planning and Strategy
7.1 Sales Force Sizing
7.1.1 Affordability and Breakdown Method
7.1.2 Workload Build-up Technique
7.1.3 Competitive Benchmarking
5. 7.1.4 Promotion Response Modeling
7.2 Sales Force Recruitment
7.2.1 Introduction
7.2.2 Sales Force Recruitment Strategy
7.2.3 Recruitment Process Outsourcing (RPO)
7.2.4 Case Studies
7.3 Sales Force Training and Compensation
7.3.1 Introduction
7.3.2 Behavioral Coaching and the Five Step Model
7.3.3 Specialty Care Training
7.3.4 Continuous Assessments
7.3.5 Incentive Management
8 Sales Force Effectiveness in Pharmaceuticals – Competitive Landscape
8.1 Efficiency Analysis
8.2 Company Profiles
8.2.1 Teva Pharmaceutical Industries Ltd. (Teva)
8.2.2 Bristol-Myers Squibb (BMS)
8.2.3 Sanofi
8.2.4 Novartis AG (Novartis)
8.2.5 Merck & Co., Inc. (Merck)
8.2.6 Pfizer Inc. (Pfizer)
8.2.7 Takeda Pharmaceutical Company Limited (Takeda)
8.2.8 GlaxoSmithKline plc (GSK)
8.2.9 Johnson & Johnson (J&J)
8.2.10 Eli Lilly and Company (Lilly)
8.2.11 Abbott Laboratories (Abbott)
8.2.12 AstraZeneca Plc (AstraZeneca)
9 Sales Force Effectiveness – Appendix
9.1 Market Definitions
9.2 Abbreviations
9.3 Bibliography
9.4 Research Methodology
9.4.1 Coverage
9.4.2 Secondary Research
9.4.3 Primary Research
9.4.4 Expert Panel Validation
9.5 Contact Us
9.6 Disclaimer
List of Figures
Figure 1: Sales Force Effectiveness in Pharmaceuticals, Pharmaceutical and Biotech R&D
Expenditure ($bn) v/s Number of NME/BLA Approvals, The US, 1995–2009
Figure 2: Sales Force Effectiveness in Pharmaceuticals, Global, Layoffs by Pharmaceutical
Companies, 2010
6. Figure 3: Sales Force Effectiveness in Pharmaceuticals, Global, Implemented Sales Strategies in
Pharmaceutical Companies (%), 2011
Figure 4: Sales Force Effectiveness in Pharmaceuticals, Global, Sales Strategies to be
Implemented in the Future (%), 2011
Figure 5: Sales Force Effectiveness in Pharmaceuticals, KAM Process, 2011
Figure 6: Sales Force Effectiveness in Pharmaceuticals, Identification and Prioritization of Key
Accounts, Risk vs. Potential
Figure 7: Sales Force Effectiveness in Pharmaceuticals, Key Accounts Identification and
Prioritization, Skill vs. Will
Figure 8: Sales Force Effectiveness in Pharmaceuticals, Key Accounts Primary Selection
Criteria
Figure 9: Sales Force Effectiveness in Pharmaceuticals, Understanding Needs and Developing
Customer Insights
Figure 10: Sales Force Effectiveness in Pharmaceuticals, Forming the Account Team
Figure 11: Sales Force Effectiveness in Pharmaceuticals, Developing Key Account Strategic
Plan
Figure 12: Sales Force Effectiveness in Pharmaceuticals, Communicating and Implementing the
Key Account Strategic Plan
Figure 13: Sales Force Effectiveness in Pharmaceuticals, Reviewing KAM Results
Figure 14: Sales Force Effectiveness in Pharmaceuticals, Lundbeck and the KAM Principle,
2010
Figure 15: Sales Force Effectiveness in Pharmaceuticals, Abbott’s Sales Force Optimization
Figure 16: Sales Force Effectiveness in Pharmaceuticals, Abbott’s Account Strategy, 2010
Figure 17: Sales Force Effectiveness in Pharmaceuticals, Abbott’s Segmentation and Targeting
Strategy, 2010
Figure 18: Sales Force Effectiveness in Pharmaceuticals, Calculating Account Value, 2010
Figure 19: Sales Force Effectiveness in Pharmaceuticals, Positioning the Key Accounts
Figure 20: Sales Force Effectiveness in Pharmaceuticals, CSOs, Major Services, 2010
Figure 21: Sales Force Effectiveness in Pharmaceuticals, Modern CSO Applications,
Deployment of Sales Force Across Product Lifecycle, 2011
Figure 22: Sales Force Effectiveness in Pharmaceuticals, CSOs and Evolving Sales Model
Figure 23: Sales Force Effectiveness in Pharmaceuticals, CLM-enabled Commercial
Organization
Figure 24: Sales Force Effectiveness in Pharmaceuticals, Wyeth’s Target Selection Model, 2010
Figure 25: Sales Force Effectiveness in Pharmaceuticals, Wyeth’s Segmentation Model, 2010
Figure 26: Sales Force Effectiveness in Pharmaceuticals, Benefits of CLM for Wyeth, 2010
Figure 27: Sales Force Effectiveness in Pharmaceuticals, Customer Response Framework for
CLM, Wyeth, 2010
Figure 28: Sales Force Effectiveness in Pharmaceuticals, Customer Response Success Rate for
CLM, Wyeth, 2010
Figure 29: Sales Force Effectiveness in Pharmaceuticals, Wyeth and its CLM Process, 2010
Figure 30: Sales Force Effectiveness in Pharmaceuticals, Predictive Modeling Data Integration
Figure 31: Sales Force Effectiveness in Pharmaceuticals, Predictive Modeling
Figure 32: Sales Force Effectiveness in Pharmaceuticals, Predictive Modeling Process
Figure 33: Sales Force Effectiveness in Pharmaceuticals, Sales Index vs. Sales Strategy
Figure 34: Sales Force Effectiveness in Pharmaceuticals, Promotional Response Model on Sales
7. Figure 35: Sales Force Effectiveness in Pharmaceuticals, Workload Build-up Model Case Study,
2011
Figure 36: Competitive Benchmarking Model Case Study, 2011
Figure 37: Promotion Response Model, 2011
Figure 38: Optimal Promotion Response Model, 2011
Figure 39: Advantages of RPO, 2011
Figure 40: Sales Force Effectiveness in Pharmaceuticals, Sales Force Strategy, Incentive
Compensation Functionality, Global, 2010
Figure 41: Sales Force Effectiveness in Pharmaceuticals, Sales Force Strategy, Oracle Incentive
Compensation Solution, 2010
Figure 42: Sales Force Effectiveness in Pharmaceuticals, Efficiency Analysis, 2011
Figure 43: Sales Force Effectiveness in Pharmaceuticals, Efficiency Analysis, 2010
Figure 44: Sales Force Effectiveness in Pharmaceuticals, Efficiency Analysis, 2009
Figure 45: Teva Pharmaceutical Industries, Global, SG&A Expenses (%), 2011
Figure 46: Teva Pharmaceutical Industries, Global, SG&A Expenses by Year ($m) and Growth
Rate (%), 2009–2011
Figure 47: Bristol-Myers Squibb, Global, SG&A Expenses (%), 2011
Figure 48: Bristol-Myers Squibb, Global, SG&A Expenses by Year ($m) and Growth Rate (%),
2009–2011
Figure 49: Sanofi, Global, SG&A Expenses (%), 2011
Figure 50: Sanofi, Global, SG&A Expenses by Year ($m) and Growth Rate (%), 2009–2011
Figure 51: Novartis, Global,, SG&A Expenses (%), 2011
Figure 52: Novartis, Global, SG&A Expenses by Year ($m) and Growth Rate (%), 2009–2011
Figure 53: Merck, Global, SG&A Expenses (%), 2011
Figure 54: Merck, Global, SG&A Expenses by Year ($m) and Growth Rate (%), 2009–2011
Figure 55: Pfizer, Global, SG&A Expenses (%), 2011
Figure 56: Pfizer, Global, SG&A Expenses by Year ($m) and Growth Rate (%), 2009–2011
Figure 57: Takeda Pharmaceutical Company, Global, SG&A Expenses (%), 2011
Figure 58: Takeda Pharmaceutical Company, Global, SG&A Expenses by Year ($m) and
Growth Rate (%), 2009–2011
Figure 59: GlaxoSmithKline, Global, SG&A Expenses (%), 2011
Figure 60: GlaxoSmithKline, Global, SG&A Expenses by Year ($m) and Growth Rate (%),
2009–2011
Figure 61: Johnson & Johnson, Global, SG&A Expenses (%), 2011
Figure 62: Johnson & Johnson, Global, SG&A Expenses by Year ($m) and Growth Rate (%),
2009–2011
Figure 63: Eli Lilly, Global, SG&A Expenses (%), 2011
Figure 64: Eli Lilly, Global, SG&A Expenses by Year ($m) and Growth Rate (%), 2009–2011
Figure 65: Abbott, Global, SG&A Expenses (%), 2011
Figure 66: Abbott, Global, SG&A Expenses by Year ($m) and Growth Rate (%), 2009–2011
Figure 67: AstraZeneca, Global, SG&A Expenses (%), 2011
Figure 68: AstraZeneca, Global, SG&A Expenses by Year ($m) and Growth Rate (%), 2009–
2011
List of Tables
8. Table 1: Sales Force Effectiveness in Pharmaceuticals, Pharmaceutical and Biotech R&D
Expenditure ($billion) v/s Number of NME/BLA Approvals, the US, 1995–2009
For more details Contact: sales@reportsandreports.com