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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

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.
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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Published by: carolnelson on Jul 26, 2012
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Sales Force Effectiveness in Pharmaceuticals - Targeted SalesModels such as Enhanced Key Account Management (KAM) andClosed-Loop Marketing (CLM) Strategies Drives Sales ForceEfficiency
Leading 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) 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. 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 of pharmaceutical 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 industry
experts. 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.
The need for sales force effectiveness for pharmaceutical companies and the factors thataffect it.
A study of major strategic sales models with case studies that enhance sales forceeffectiveness.
Sales force sizing, recruitment strategies, and key sale force training and compensationmodels.
An analysis of the competitive landscape, including profiles of major companies such asPfizer, 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 forceeffectiveness
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 forceeffectiveness
Make informed decisions with respect to sales force training and compensation
Make more informed business decisions from the insightful and in-depth analysis of salesforce effectiveness sales models and the factors that shape them
Additional 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.
 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 of sales performance.
 Get more information
July 2012
Price: Single User License:
Price: Corporate User License:
US$10500Table of Contents
 1.1 List of Figures1.2 List of Tables
2 Sales Force Effectiveness
Executive Summary
2.1 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 Comparison
3 Sales Force Effectiveness in Pharmaceuticals
3.1 Overview3.2 GBI Research Report Guidance
4 Sales Force Effectiveness in Pharmaceuticals
An Overview
4.1 Sales Force Effectiveness Required4.1.1 Declining Return on Investment (ROI) for R&D Expenditure4.1.2 Pharmaceutical Company Staff Reductions

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