SOURCE: Cutting Edge Information

October 16, 2007 07:27 ET

Sales Rep Compensation Increasingly Tied to Physician Satisfaction

RESEARCH TRIANGLE PARK, NC--(Marketwire - October 16, 2007) - As the number of doctors assigned to each representative has decreased over the last two years, sales reps are increasingly held accountable for developing quality relationships with their clients, according to a study released by leading competitive intelligence provider Cutting Edge Information. The study, "Pharmaceutical Sales Management 2008," available at http://www.PharmaSalesManagement.com, examines the sales management strategies and techniques of several leading pharmaceutical companies.

In many cases, reps serve as the main conduit between the pharmaceutical company and physician. Oftentimes, a physician's perception of a sales rep will reflect on the company's image; for instance, a negative view of a sales rep could result in a physician's negative view of the company. Therefore, pharmaceutical companies are extremely concerned about measuring the service and value sales reps provide to physicians.

As pharmaceutical companies seek viable methods to evaluate physician's satisfaction with specific sales reps, there has been an influx in the number of vendors specializing in such a service. Vendors are polling physicians in regards to their reps and selling this information back to pharmaceutical companies. Armed with this data, some companies have directly or indirectly factored in the results into sales rep compensation packages.

"If sales reps aren't able to serve as a valuable knowledge resource to physicians, the effect on the physician's perception of the company could be significant," explains David Richardson, senior research analyst for Cutting Edge Information and lead author of the study. "That is one of the reasons why pharmaceutical sales training has been focusing more time on product knowledge rather than training on selling techniques."

"Pharmaceutical Sales Management 2008" explores the latest trends, budgets and strategies of top pharmaceutical companies. Key metrics in the report include:

--  Budgeting and Financial Support
--  Structure and Headcounts
--  Product Prioritization, Territory Alignment and Coordination
--  Training and Development
--  Sales Compensation and Reward Programs
--  Rep Activities
--  Segmenting and Targeting
--  Overcoming Reduced Physician Access
--  Optimizing Time Earned with Physicians
    

To download a free, online summary of this report, visit http://www.cuttingedgeinfo.com/pharmasalesmanagement/PH103_Download.asp#body.

Contact Information

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    research:
    Contact
    David Richardson
    Email Contact
    919-433-0216