Boston, MA -- (ReleaseWire) -- 09/04/2012 -- 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.
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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.
Companies Mentioned in this Report: Teva Pharmaceutical Industries Ltd. (Teva), Bristol-Myers Squibb (BMS), Sanofi, Novartis AG (Novartis), Merck & Co., Inc. (Merck), Pfizer Inc. (Pfizer), Takeda Pharmaceutical Company Limited (Takeda), GlaxoSmithKline plc (GSK), Johnson & Johnson (J&J), Eli Lilly and Company (Lilly), Abbott Laboratories (Abbott), AstraZeneca Plc (AstraZeneca)
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