Expanding Customer Base and Planning New Product Launch

In today’s pharmaceutical landscape, it’s not sufficient to be simply manufacturer of repute. If your product portfolio remains the same, without any new product launches, over the decades, then you cannot expect any remarkable growth in revenue. Either you’ve to expand your customer base on the strength of your existing portfolio or plan for new product launches in your prevailing markets to enhance the volume of total sales.

Expanding your Customer Base

While markets are becoming increasingly competitive, the role of medical/sales representative is getting more challenging.

With diverse factors such as restricted product portfolio, reclining markets, pricing fluctuations, pressure to win tenders or secure governmental sales, it becomes equally important how you make an impact on your field force to attain revenue flows on the rise.

Undoubtedly, the foremost, effective tool to tune your medical/sales professionals’ motivation, team spirit and ready responsiveness is to conduct successful competitive training.

In today’s extremely competitive pharmaceutical business world, as a pharma sales manager you just can’t be busy to yourself and while neglecting your team members you cannot expect any miracles to happen that can make look your sales graph upwards, with increased sales volume and significant profits.

Perhaps, as a responsible pharma sales manager, besides assessing team performance and reports and conducting long, repetitive meetings, it is important that you spend your time with your team in a creative, enthusiastic, focused and insightful manner. In fact, when team members churn their enthusiasm and spirit, then there’s an atmosphere of vivid jubilation and visible markers for promising growth.

Prior to conducting training, it should be decided who needs to be trained, what essential training modules are worthwhile for the training attendees, in what best way the training can be conducted and the perfect time schedule for achieving best outcomes.

Planning for New Product Launches

One thing that’s need to be clear is that when you think of new product launches, you’ve to have a clear assessment of your capabilities, resources and planning.

Does it make sense to dream about a potential project, dig for bulk information, conduct endless meetings, prepare extensive product reports and then discarding the project half-way with this notion that there’s no ready resources, enough facility space or competent manpower?

And when you’ve all the ingredients to foresee a project that’s going to be successful, then it is essential to decide how you map out the different phases of product launch and position it.

Next, be clear in terms of what commitments you have and what outcomes you are going to expect from pre-launch and post-launch activities.

Finally, have a clear understanding how your new product will rank in the respective launch markets. Figure out what investments are needed and what actions are to be taken, if at all, there are any unexpected deviations or hurdles?

Above all, any project, from start-to-finish, must be measurable. If it doesn’t tell a sensible story, then there’s something wrong. In fact, what strengthens a project should be laudable, and anything that weakens a project should be removed.

Ultimately, a project turns out to be successful when true commitments, sound integrity and timely actions are taken into consideration, and at the same time, loopholes and gaps are cleared to avoid project delays or disasters.

Image source: Pinterest.com

Article by: Mohammed Abdul Jawad