Lecture 1.3 (sales and marketing) Flashcards
Whta is marketing and sales function?
To fulfill the market needs with products thru marketing planning, promoting and selling to the customers.
–> ensure competitve advantage and success
What is the average cost for maketing and sales promotion?
20% of sales revenue
What are some stakeholders in sales and marketing of pharmaceutical products?
- doctors and medical reseachers
- hospitals
- health authorities
- pharmacists
- wholesalers and retailers
- patients
- insurers in some companies
Marketing managements includes:
- understanding market and competition
- market segmentation and targeting
- branding/positioning
- sales and profit forecasting and targets
- strategy and action plans
- promotion budgets/ expenditure
allocation
What is the sales and marketing approach in GP/private hospitals?
one-on-one most of the time / doctor group meetings, samples, clinical papers / promotion leaflets. Now with digital marketing as sales support.
What is the sales and marketing approach in government hospitals?
multi-level approach
1. specialists –> conduct clinical trials, sampling, clinical papers.
2. hospital manager and pharmacists –> pharmaco-economic data. Focus on cost effectiveness
3. sales force/ product specialists visits
What are the 2 marketing approaches towards consumers?
- pull marketing
- multi channel marketing (MCM)
What is pull marketing?
DTC (direct to customer) marketing:
bill boards, media advertising/advertorials, internet, disease-related education, public talks, patient groups
What is multi channel marketing (MCM)?
-use of integrated communications to
reach and influence customer
-Using digital communication
-reinforce a consistent message, both digital and non digital to increase impact and efficiency
What is omni channel marketing?
To engage customers across a combination of channels which are the customers choices of communication (online/offline) to generate customer loyalty on products.
–> focus is on delivering a consistent brand message and experience across all channels
What are some considerations in sales management?
- sales force effectiveness (right size and effcicient team)
- territory management
- targeting of customers - finding right customers
- customers relation mnagement (key account management)
- talent retention and development (salary, training etc)
What is the orthodox belief regarding sales approach?
‘share-of-voice’
–> to increase exposure of products through a massive number of sales force.
BUT, recent development:
cut in sales forces in matured markets due to restructuring
What does sales force competence entail?
- knowledge of products (company and competitors)
- sales skills/customer relations
- feedback from market
- ethical promotions (code of marketing)
What is the new trend in pharma marketing and sales?
Integrated value added services
1. quality detailing (high quality reps)
2. internet M&S support
3. medical services support through company medical affairs dept
4. increase patient disease and brand awareness (DTC marketing)
5. patient engagement
