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Products & Services Brand Management and Product Leadership Product Marketing and Innovation

Using a Franchise Approach to Manage Multiple Products: Adjusting Sales Force Size and Training to Lower Costs

ID: 5241


Features:

17 Info Graphics

11 Data Graphics

125+ Metrics


Pages/Slides: 33


Published: 2013


Delivery Format: Online PDF Document


 

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Corporate: Authorizes use for the entire company for a year and copies can be printed. No limitations for usage inside the company.




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  • STUDY OVERVIEW
  • BENCHMARK CLASS
  • SPECIAL OFFER
Non-members: Click here to review a complimentary excerpt from "Using a Franchise Approach to Manage Multiple Products: Adjusting Sales Force Size and Training to Lower Costs"

STUDY OVERVIEW

In today’s marketplace, launching multiple products for a common therapeutic area is costly and challenging. This benchmark study probes how to most efficiently manage multiple products and indications in the same therapeutic area. One way franchise managers maximize the value of portfolio assets is by reducing the average cost of supporting each product.

The greatest factor affecting the cost of supporting any pharma product is sustaining a sales force. This study examines how an integrated product franchise approach can cut costs through sales force effectiveness. The study examines what aspects of sales operations can create savings through a franchise approach. The study also touches on leveraging marketing resources and visual aid/collateral integration under a product franchise approach.

This study is designed to deliver evidence-based benchmarks on sales force efficiencies that come with a franchise approach to managing multiple products.

KEY TOPICS

  • Executive Summary
  • Participant Demographics
  • Franchise Benefit Area: Reducing Costs

SAMPLE KEY METRICS
  • Operational areas that benefit from managing similar products as part of an integrated product franchise
  • Operational areas that have achieved significant cost savings as a result of leveraging resources
  • Rate effectiveness of combining resources for specific franchise sales tactics
  • Sales areas where redundancy can be removed by combining promotional resources
  • Top three lessons learned in removing sales redundancies
  • Rate effectiveness of combining resources for specific marketing services that promote multiple indications
SAMPLE KEY FINDING
  • Remove Redundancies in Sales Force Size & Customer Details: The most effective redundancy-removal areas to explore include sales performance analytics (48% highly effective), rep training (42%), and customer targeting (40%). Companies can benefit from redundancy removal in sales force size (i.e., not adding another full sales force for new products) and customer details – which received strong effectiveness ratings.
METHODOLOGY

For this study, Best Practices, LLC engaged 65 Sales, Marketing, and Commercial leaders at more than 50 companies through a benchmarking survey instrument.

Industries Profiled:
Consumer Products; Diagnostic; Pharmaceutical; Medical Device; Biopharmaceutical; Health Care; Biotech; Market Research; Utilities; Chemical; Clinical Research; Laboratories


Companies Profiled:
Bayer Healthcare; Shionogi Inc.; Roche Diagnostics; Mylan; GlaxoSmithKline ; Drager; CareFusion; B.Braun; Astellas; Entelos; Alcon; Siren Interactive; AstraZeneca; Nonin; Menarini Group; Hikma; Novartis; Nico ; Lupin; Centurion; Covidien; Galpha Laboratories; Catalent Pharma Solutions; Genentech; Almirall; Abbott; Sandoz; Johnson & Johnson; Dr Reddy's Laboratories; Merck; Meda Pharmaceuticals; Sanofi; Amylin; Teva Pharmaceutical Industries Ltd; Glenmark; Boehringer Ingelheim; Wockhardt; Novo Nordisk; Ranbaxy; Daiichi Pharmaceutical Co.; Ltd.; Roche; Baxter Healthcare; Medtronic; Shire; UCB Pharma; Stryker; Gilead Sciences; Biogen Idec; Boston Scientific; Zydus Cadila; Janssen; cipla


If you purchase Best Practice Database document(s), you will have 30 days from the date of purchase to apply some or all of the cost of the document(s) toward the cost of a Full Access Individual, Pharma, Group or University Membership. Write us at DatabaseTeam@bestpracticesllc.com or call David Guinn at 919-767-9179 if you have any questions.