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» Products & Services » » Sales and Marketing » Strategic Alliances

Best Practices in Pharmaceutical Alliances and Co-Promotions

ID: SM-117


Features:

1 Info Graphics

21 Narratives

38 Best Practices


Pages: 84


Published: Pre-2015


Delivery Format: Shipped


 

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Sitewide: Authorizes use of the report for a geographic site. All people at site can view the report for a year and copies can be printed.

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919-403-0251

  • STUDY OVERVIEW
  • BENCHMARK CLASS
  • STUDY SNAPSHOT
  • KEY FINDINGS
  • VIEW TOC AND LIST OF EXHIBITS
Improve the quality and efficiency of sales partnerships by excelling in the vital practices of co-promotions. Focus areas include deal making, relationship management, and sales and marketing management. This Best Practices Benchmarking® Report contains numerous findings that will enable companies in the pharmaceutical and biotechnology sector to understand the critical success factors of alliances and co-promotions. Moreover, the  findings contained in this report will enable your company and strategic partners to move knowledgeably forward toward the objective of developing its own alliance and co-promotion system.

If you are interested in this report, check out "Profitable Partnerships: Developing Excellence in Alliances."


Industries Profiled:
Pharmaceutical


Companies Profiled:
A Leading Financial Services Firm; A Leading Marketing Firm; A Leading Pharmaceutical Company; A Leading Pharmaceutical Firm; A Top Pharmaceutical Company; GlaxoSmithKline Roche; partners

Study Snapshot

This Best Practices Benchmarking® Report contains numerous findings that will enable companies in the pharmaceutical and biotechnology sector to understand the critical success factors of alliances and co-promotions. Moreover, the  findings contained in this report will enable your company and strategic partners to move knowledgeably forward toward the objective of developing its own alliance and co-promotion system.

The key operational areas which emerged as foundation stones for superior alliances include:

  • Deal Making
  • Pre-Launch and Launch Activities
  • Marketing Management
  • Sales Management
  • Relationship Management

The best practices identified in this project were the result of over interviews with executives throughout the pharmaceutical and biotechnology industries. Best Practices, LLC examined co-promotion deals with over twenty-five exceptional companies that have developed strategically integrated co-promotion alliances. Each company is an industry leader, and each major co-promotion partner is included.

Key Findings

The key operational areas below were identified as the building blocks to successful alliances and co-promotions.  These include:

Deal Making

  • Articulate a clear and compelling rationale for the co-promotion effort.
  • Seek partners who want to co-promote and whose culture, strategy and needs fit your own.
  • Clearly delineate roles, responsibilities, conflict resolution mechanisms, and other governance details in the contract.

Pre-launch and Launch Activities
  • Consolidate control into one individual in each organization acting as a brand manager to create unity of command.
  • Create a dedicated operational team from each organization to oversee and manage the co-promotion processes.
  • Produce materials for training by one organization and share those resources with the other organization to minimize duplication of efforts.

Marketing Management
  • Develop a clear understanding of marketing roles and responsibilities between co-promotion partners.
  • Publicize and clarify the partnership to customers to ensure both partners receive market recognition.
  • Use co-branding to instill a sense of ownership in sales representatives.

Sales Management
  • Mirror territories to facilitate partner communication and coordination.
  • Develop coordinated call schedules and plans on key accounts.
  • Employ similar compensation systems to foster positive relations between co-promote partner sales reps.

Relationship Management
  • Involve senior management in communicating the strategic importance of the partnership.
  • Establish the optimal frequency of communications to build a strong partnership and ensure effective plan execution.
  • Identify and emphasize the key drivers of team-building to each individual involved in the co-promotion effort.
Table of Contents

Executive Summary
• Project Background
• Benchmark Class
• Key Project Findings
• Process Map

Chapter 1: Deal Making
• Strategic Alignment and Evaluation
• Partner Evaluation
• Deal Process and Communication
• Incentives and Performance Management
• Drug Evaluation

Chapter 2: Pre-Launch and Launch Leadership and Message
• Planning
• Training Material Development
• Distribution

Chapter 3: Sales Management
• Territory Management
• Relationship Management with Health Care Professionals
• Sample Management
• Incentive Management
• Performance Measurement & Management
• Training and Career Development of Reps
• System Support

Chapter 4: Marketing Management
• Roles and Responsibilities
• Internal Reviews
• Message and Positioning
• Packaging

Chapter 5: Relationship Management
• Leadership
• Team Building
• Performance Management
• Levels of Interaction
• Communication Frequency
• Partner Communication Content
• Dispute Resolution
• Communication Systems


List of Charts & Exhibits

Pharmaceutical Co-Promotion Process Map