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: For more information or to learn about other Cutting Edge Information
research:
Contact
David Richardson
919-433-0216