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www.futurepharmaus.com
sales & MaRKeTING
S&M
As the blockbuster drug is diminishing and the
specialty niche brand is emerging, pharmaceutical
companies struggle to differentiate their brand in
an overly competitive market. What specifi c chal-
lenges do you see this industry facing, and how do
you suggest pharmaceutical companies overcome
these challenges as they relate to their sales and
marketing efforts?
While it is true that pharmaceutical companies today are facing a multitude
of challenges, never before have there been more opportunities to explore
creative solutions that positively impact sales, marketing and ultimately prof-
itability. In our experience, pharmaceutical companies are adopting new
sales strategies and team structures in order to remain competitive within a
dynamic marketplace. One size does not fit all anymore. We have seen larger
teams and multiple mirrored teams often augmented into smaller, highly
optimized teams or by teams designed to address a specific business need
or opportunity, such as seasonal promotion. Lean and efficient promotion of
products is the key to impacting profitability. Not all sales territories are cre-
ated equal in terms of targets, access and managed care, and may not require
the same resources to achieve the desired results.
Pharmaceutical companies should look carefully at portfolio needs and
especially regionalization when formulating their sales strategy. In our expe-
rience, we have found that high-value territories may warrant using one or
more full-time sales reps to maximize potential, while lower-value territories
may be better served by using a part-time sales rep. Regional coverage needs
and individual territory potential can shift over time for a variety of reasons.
Having a sales resource with built-in flexibility to adapt to changing market
conditions can be a smart investment to address both today’s and tomor-
row’s promotional needs.
You can become more creative with your sales infrastructure by explor-
ing different team