Pharma and Life sciences
Sales acceleration for a major Pharma player in metro and Tier I cities
07 Jul 2020
Context
Company Description: A major pharma manufacturer and marketer in India
Opportunity: The client intended to accelerate sales in the region by:
- Estimating increasing Field Force Efficiency (FFE), benchmarking it against competitors and mitigating causes of concern
- Benchmarking sales and marketing budget against competitors
Our approach
- Market visits across randomly selected locations in 10 metro and Tier-I cities for assessing availability, visibility and sales of major SKUs
- Interview and behavior observation of 50+ Distributors Sales Representatives (DSRs)
- DSR shadowing to assess market dynamics like brand pull, retailer and patient attitudes and key demand factors for the brand
- 30+ Medical Representatives (MRs) interviews to assess practitioner attitude and brand pull
- Study of annual sales and marketing budget for top selling SKUs
- Competitive benchmarking of Key Performance Indicators (KPIs) for DSRs, MRs and marketing team
Praxis value delivered
- Budgeted sales and marketing value is optimal – the utilization for Field Force (FF) needs to be better designed
- Designed a competitive incentive plan for DSRs to ensure higher productivity (calls per day) and ample stock availability
- Revamped DSR beat plan to increase non-chemists time; also restructured the typical MR day plan to increase the share of institutional visits
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