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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

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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.

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  • 1. Sales Force Effectiveness in Pharmaceuticals - Targeted SalesModels such as Enhanced Key Account Management (KAM) andClosed-Loop Marketing (CLM) Strategies Drives Sales ForceEfficiencyLeading business intelligence provider GBI Research has released its latest research report,entitled “Sales Force Effectiveness in Pharmaceuticals – Targeted Sales Models such asEnhanced Key Account Management (KAM) and Closed-Loop Marketing (CLM) StrategiesDrives Sales Force Efficiency”. The report provides key data, information and analysis of trendsand practices adopted to improve sales force effectiveness in the pharmaceutical industry. Thereport provides a comprehensive insight into the strategies adopted by pharmaceutical companiesto improve their sales force effectiveness. It provides case studies and sales force strategies ofpharmaceutical companies and IT solution providers. The report also analyzes the opportunitiesand challenges that could play a role in shaping the future of sales force effectiveness. The reportfinishes with a detailed analysis of 12 key pharmaceutical companies, with respect to their salesefficiency. 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 industryexperts. At present, the pharmaceutical industry is changing due to expensive promotion andresearch and development (R&D) campaigns, which are crucial to examine opportunities tosimplify 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. Salesforce effectiveness begins with developing an effective sales strategy, sizing and structuring thesales force, designing incentive compensation plans, setting goals, managing sales performance,recruiting sales people, motivating the sales force, building a potent sales force culture, andcoordinating sales and marketing. Pharmaceutical companies should have the best sales force togenerate the most sales, and should also know how to integrate strategic business objectives withselection program strategies. Due to the changing pharmaceutical market environment, salesforce roles are also changing. Sales representatives in leading companies now have theresponsibility of delivering marketing messages and offering information and educationalopportunities to physicians to build and change behaviors and relationships. Physician demandfor more detailed, comparative and customized information from pharmaceutical salesrepresentatives is also increasing. As a result, new sales representatives should have the right setof skills to play these varying roles. In recent years, there has been a change in direction in thepharmaceutical industry about methods for effectiveness selling. The industry has recorded anumber of sales job cuts, and as a result, sales forces in the US and Europe has reduceddrastically. This reduction has forced pharmaceutical companies to change the size, structure andsales strategies of their sales forces. In addition, pharmaceutical companies are now underpressure to generate more profits with smaller sales forces. To achieve this, pharmaceuticalcompanies 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 themAdditional Information:Knowledge is key for pharmaceutical sales forces, who should be offered training and incentivesto increase sales and improve productivity, says a new report by healthcare experts GBIResearch. This new report states that the importance of internal training cannot be understated,with the significant investments, advanced training techniques, and use of external trainingconsultants by major pharma companies playing testament to this.In recent years, the sales industry within the US and Europe has recorded sales job reductions asa result of the global economic recession, and this has led to a greater demand for effectiveselling methods. Companies forced to downsize their sales forces still aim to secure high salesfigures, and are therefore pressurized to develop their sales people to continue to deliverprofitable 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 andeffectively improve employee retention rates. Incentive management is a significant tool thatencourages 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 alwaysproperly integrated into the sales management process. However, a large number of companiesare now implementing incentive management solutions that provide the flexibility to quicklyadjust compensation plans in order to improve sales force performance. This solution has theability to adjust to specific company needs, and allows for the integration of existing processesand 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 theorganization. Dashboards contain various performance indicators which are used to monitorbusiness processes through analyzing the performance of sales representatives and customerresponse. This allows sales representatives to compare their benchmarked performance againstpeer averages, and can help shape training and incentive schemes to improve certain aspects ofsales 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.htmlReport DetailsPublished: July 2012Price: Single User License: US$3500 Price: Corporate User License: US$10500Table of Contents1.1 List of Figures1.2 List of Tables2 Sales Force Effectiveness – Executive Summary2.1 Sales Force Training and Incentive Management Systems Play an Important Role inIncreasing Sales and Improving Productivity2.2 Large and Medium Sized Pharmaceutical Companies are Implementing Key AccountManagement (KAM) Strategies to Enhance Effectiveness2.3 Recruitment Process Outsourcing Provides a Strategic Advantage and its Usage willIncrease2.4 Sales Force Effectiveness Dashboards Developed to Function as a Performance Comparison3 Sales Force Effectiveness in Pharmaceuticals – Introduction3.1 Overview3.2 GBI Research Report Guidance4 Sales Force Effectiveness in Pharmaceuticals – An Overview4.1 Sales Force Effectiveness Required4.1.1 Declining Return on Investment (ROI) for R&D Expenditure4.1.2 Pharmaceutical Company Staff Reductions
  • 4. 4.1.3 Changing Product Portfolios4.1.4 Difficulty Attaining Regulatory Approval4.1.5 Specialty Care Focus4.1.6 Industry Consolidation and Changing Competition4.1.7 IT Increasingly Applied to Sales Models5 Sales Force Effectiveness in Pharmaceuticals – Role of New Sales Models and Strategies5.1 Implementation of Strategies in Pharmaceutical Companies5.1.1 Implemented Sales Force Effectiveness Strategies5.1.2 Future Implementation of Sales Force Effectiveness Strategies5.2 Current Sales Models for Enhancing Sales Force Effectiveness5.2.1 KAM Process5.2.2 Types of KAM5.2.3 Case Studies5.3 Contract Sales Outsourcing5.3.1 Contract Sales Representatives5.3.2 Sales Team Recruitment and Training5.3.3 Sales Data Analytics and Management5.3.4 Shared Sales Teams and Telesales5.3.5 MSLs5.3.6 Deployment Sales Force Across Product Lifecycle5.3.7 The Evolving Model5.3.8 Case Study6 Sales Force Effectiveness in Pharmaceuticals – IT Applications in Sales Models6.1 Customer Relationship Management (CRM)6.2 Sales Force Automation (SFA)6.2.1 Pharmaceutical CRM Vendors6.3 Closed Loop Marketing (CLM) Systems6.3.1 Benefits for Sales and Physicians6.3.2 Benefits for Analytics6.3.3 Benefits for Legal and Regulatory Departments6.3.4 Benefits for Marketing6.3.5 CLM Vendors6.3.6 Case Studies6.4 Predictive Modeling in Sales and Marketing6.4.1 Case Studies6.5 Examining Strategies6.5.1 Promotional Response Model6.6 Sales Force Effectiveness Dashboards7 Sales Force Effectiveness in Pharmaceuticals – Sales Force Planning and Strategy7.1 Sales Force Sizing7.1.1 Affordability and Breakdown Method7.1.2 Workload Build-up Technique7.1.3 Competitive Benchmarking
  • 5. 7.1.4 Promotion Response Modeling7.2 Sales Force Recruitment7.2.1 Introduction7.2.2 Sales Force Recruitment Strategy7.2.3 Recruitment Process Outsourcing (RPO)7.2.4 Case Studies7.3 Sales Force Training and Compensation7.3.1 Introduction7.3.2 Behavioral Coaching and the Five Step Model7.3.3 Specialty Care Training7.3.4 Continuous Assessments7.3.5 Incentive Management8 Sales Force Effectiveness in Pharmaceuticals – Competitive Landscape8.1 Efficiency Analysis8.2 Company Profiles8.2.1 Teva Pharmaceutical Industries Ltd. (Teva)8.2.2 Bristol-Myers Squibb (BMS)8.2.3 Sanofi8.2.4 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 – Appendix9.1 Market Definitions9.2 Abbreviations9.3 Bibliography9.4 Research Methodology9.4.1 Coverage9.4.2 Secondary Research9.4.3 Primary Research9.4.4 Expert Panel Validation9.5 Contact Us9.6 DisclaimerList of FiguresFigure 1: Sales Force Effectiveness in Pharmaceuticals, Pharmaceutical and Biotech R&DExpenditure ($bn) v/s Number of NME/BLA Approvals, The US, 1995–2009Figure 2: Sales Force Effectiveness in Pharmaceuticals, Global, Layoffs by PharmaceuticalCompanies, 2010
  • 6. Figure 3: Sales Force Effectiveness in Pharmaceuticals, Global, Implemented Sales Strategies inPharmaceutical Companies (%), 2011Figure 4: Sales Force Effectiveness in Pharmaceuticals, Global, Sales Strategies to beImplemented in the Future (%), 2011Figure 5: Sales Force Effectiveness in Pharmaceuticals, KAM Process, 2011Figure 6: Sales Force Effectiveness in Pharmaceuticals, Identification and Prioritization of KeyAccounts, Risk vs. PotentialFigure 7: Sales Force Effectiveness in Pharmaceuticals, Key Accounts Identification andPrioritization, Skill vs. WillFigure 8: Sales Force Effectiveness in Pharmaceuticals, Key Accounts Primary SelectionCriteriaFigure 9: Sales Force Effectiveness in Pharmaceuticals, Understanding Needs and DevelopingCustomer InsightsFigure 10: Sales Force Effectiveness in Pharmaceuticals, Forming the Account TeamFigure 11: Sales Force Effectiveness in Pharmaceuticals, Developing Key Account StrategicPlanFigure 12: Sales Force Effectiveness in Pharmaceuticals, Communicating and Implementing theKey Account Strategic PlanFigure 13: Sales Force Effectiveness in Pharmaceuticals, Reviewing KAM ResultsFigure 14: Sales Force Effectiveness in Pharmaceuticals, Lundbeck and the KAM Principle,2010Figure 15: Sales Force Effectiveness in Pharmaceuticals, Abbott’s Sales Force OptimizationFigure 16: Sales Force Effectiveness in Pharmaceuticals, Abbott’s Account Strategy, 2010Figure 17: Sales Force Effectiveness in Pharmaceuticals, Abbott’s Segmentation and TargetingStrategy, 2010Figure 18: Sales Force Effectiveness in Pharmaceuticals, Calculating Account Value, 2010Figure 19: Sales Force Effectiveness in Pharmaceuticals, Positioning the Key AccountsFigure 20: Sales Force Effectiveness in Pharmaceuticals, CSOs, Major Services, 2010Figure 21: Sales Force Effectiveness in Pharmaceuticals, Modern CSO Applications,Deployment of Sales Force Across Product Lifecycle, 2011Figure 22: Sales Force Effectiveness in Pharmaceuticals, CSOs and Evolving Sales ModelFigure 23: Sales Force Effectiveness in Pharmaceuticals, CLM-enabled CommercialOrganizationFigure 24: Sales Force Effectiveness in Pharmaceuticals, Wyeth’s Target Selection Model, 2010Figure 25: Sales Force Effectiveness in Pharmaceuticals, Wyeth’s Segmentation Model, 2010Figure 26: Sales Force Effectiveness in Pharmaceuticals, Benefits of CLM for Wyeth, 2010Figure 27: Sales Force Effectiveness in Pharmaceuticals, Customer Response Framework forCLM, Wyeth, 2010Figure 28: Sales Force Effectiveness in Pharmaceuticals, Customer Response Success Rate forCLM, Wyeth, 2010Figure 29: Sales Force Effectiveness in Pharmaceuticals, Wyeth and its CLM Process, 2010Figure 30: Sales Force Effectiveness in Pharmaceuticals, Predictive Modeling Data IntegrationFigure 31: Sales Force Effectiveness in Pharmaceuticals, Predictive ModelingFigure 32: Sales Force Effectiveness in Pharmaceuticals, Predictive Modeling ProcessFigure 33: Sales Force Effectiveness in Pharmaceuticals, Sales Index vs. Sales StrategyFigure 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,2011Figure 36: Competitive Benchmarking Model Case Study, 2011Figure 37: Promotion Response Model, 2011Figure 38: Optimal Promotion Response Model, 2011Figure 39: Advantages of RPO, 2011Figure 40: Sales Force Effectiveness in Pharmaceuticals, Sales Force Strategy, IncentiveCompensation Functionality, Global, 2010Figure 41: Sales Force Effectiveness in Pharmaceuticals, Sales Force Strategy, Oracle IncentiveCompensation Solution, 2010Figure 42: Sales Force Effectiveness in Pharmaceuticals, Efficiency Analysis, 2011Figure 43: Sales Force Effectiveness in Pharmaceuticals, Efficiency Analysis, 2010Figure 44: Sales Force Effectiveness in Pharmaceuticals, Efficiency Analysis, 2009Figure 45: Teva Pharmaceutical Industries, Global, SG&A Expenses (%), 2011Figure 46: Teva Pharmaceutical Industries, Global, SG&A Expenses by Year ($m) and GrowthRate (%), 2009–2011Figure 47: Bristol-Myers Squibb, Global, SG&A Expenses (%), 2011Figure 48: Bristol-Myers Squibb, Global, SG&A Expenses by Year ($m) and Growth Rate (%),2009–2011Figure 49: Sanofi, Global, SG&A Expenses (%), 2011Figure 50: Sanofi, Global, SG&A Expenses by Year ($m) and Growth Rate (%), 2009–2011Figure 51: Novartis, Global,, SG&A Expenses (%), 2011Figure 52: Novartis, Global, SG&A Expenses by Year ($m) and Growth Rate (%), 2009–2011Figure 53: Merck, Global, SG&A Expenses (%), 2011Figure 54: Merck, Global, SG&A Expenses by Year ($m) and Growth Rate (%), 2009–2011Figure 55: Pfizer, Global, SG&A Expenses (%), 2011Figure 56: Pfizer, Global, SG&A Expenses by Year ($m) and Growth Rate (%), 2009–2011Figure 57: Takeda Pharmaceutical Company, Global, SG&A Expenses (%), 2011Figure 58: Takeda Pharmaceutical Company, Global, SG&A Expenses by Year ($m) andGrowth Rate (%), 2009–2011Figure 59: GlaxoSmithKline, Global, SG&A Expenses (%), 2011Figure 60: GlaxoSmithKline, Global, SG&A Expenses by Year ($m) and Growth Rate (%),2009–2011Figure 61: Johnson & Johnson, Global, SG&A Expenses (%), 2011Figure 62: Johnson & Johnson, Global, SG&A Expenses by Year ($m) and Growth Rate (%),2009–2011Figure 63: Eli Lilly, Global, SG&A Expenses (%), 2011Figure 64: Eli Lilly, Global, SG&A Expenses by Year ($m) and Growth Rate (%), 2009–2011Figure 65: Abbott, Global, SG&A Expenses (%), 2011Figure 66: Abbott, Global, SG&A Expenses by Year ($m) and Growth Rate (%), 2009–2011Figure 67: AstraZeneca, Global, SG&A Expenses (%), 2011Figure 68: AstraZeneca, Global, SG&A Expenses by Year ($m) and Growth Rate (%), 2009–2011List of Tables
  • 8. Table 1: Sales Force Effectiveness in Pharmaceuticals, Pharmaceutical and Biotech R&DExpenditure ($billion) v/s Number of NME/BLA Approvals, the US, 1995–2009For more details Contact: sales@reportsandreports.com

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