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Best Practice Database
Sales and Marketing » Strategic Alliances » Developing Conflict Resolution Mechanisms
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Without a well-managed relationship between partners, co-promotion efforts in the pharmaceutical industry are bound to fail. Managing the development and maintenance of partner relations is critical to successful joint ventures. The following practices shed light on proven successful practices for managing partner relationships in a co-promotion effort, taking into account the problems that arise when trying to build one team from two companies who would otherwise be competitors. This 14-page document details the ways pharmaceutical companies have succeeded at fostering a positive relationship with partner companies, emphasizing the importance of strong leadership and team building through constant communication at various levels, mutual respect for the role of each partner, and a clear path for conflict resolution as the relationship changes.