Abstract
Overview
Introduction
This report is a study of the strategy that the pharmaceutical industry needs
to take to enable higher profit margins - and how technology vendors can
enable this through the use of CRM.
Scope
- Pharmaceutical companies need to increase drugs' profitability during its
profit window
- A reduced sales force needs to be more effective - and this can be
achieved through the effective use of CRM
- Sales and marketing should be coordinated - and CRM should be a part of
this.
Report Highlights
As the pharmaceutical industry faces a number of pressures on their profit
margins pharma companies need to ensure that they formulate a strong sales and
marketing strategy. Vendors can help pharma companies achieve this by helping
achieve the most from their CRM installations.
Reasons to Purchase
- Understand the strategy that the pharma companies should be taking to
achieve greater profit margins.
- Learn how CRM can help pharma companies achieve their aims.
- Understand how the unique characteristics of the pharma industry can be
met through the effective use of CRM.
Table of Contents
- DATAMONITOR VIEW
- ANALYSIS
- Pharma companies need to increase drugs' profitability during their
profit window
- Sales need to be more effective in a short period of time
- Getting the message of the new drug across is essential
- A genericized trademark is the ' holy grail' for pharmaceutical
companies
- Viagra - a success story of branding
- CRM and unified communications can help to make a reduced sales force
more effective
- Unified communications will help to increase sales
- An effective communication strategy is based around the sharing of
information
- Knowledge of the physician is crucial to making the most of the time
spent with them
- Having a flexible sales force can allow market changes to be cushioned
and demands shifted
- Pharma needs to come up with an effective long term sales strategy and
be less conservative
- CRM solutions should be part of creating a coordinated marketing and
sales approach
- Coordination means communication from all departments
- At the heart of this approach must be sales and marketing working in
tandem
- Pharma companies need CRM solutions that manage both the patient and
physician
- Reaching the patient is continuing to increase in importance
- Providing the patient with sufficient advice and information is
crucial as they become key influencers
- As pharmacogenomics becomes more prevalent pharma companies need an
appropriate strategy
- ACTIONS
- Vendors need to provide CRM solutions that can target different customers
- Coordinated CRM solutions are essential to provide pharma with increased
profit margins
- APPENDIX
- Definitions
- Methodology
- Further reading
- Ask the analyst
- Datamonitor consulting
- Disclaimer
- List of Tables
- Table 1: How likely are the following factors to affect or impact your
prescribing decisions?
- List of Figures
- Figure 1: Increasing the profit from a drug during its lifecycle
- Figure 2: Total CRM spending from 2006-2012
- Figure 3: Market size for CRM by application from 2006-2012 in North
America, Japan and EMEA
- Figure 4: Diagram illustrating different strategies of pharmaceutical
companies
- Figure 5: Marketing Automation market size from 2006-2012
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