As with brands in any sector, trying to recoup the pre-launch R&D costs is vital to long term success for clients in the pharmaceutical industry. One way to do this is to fully understand what drives sales of your brand, which activities have the greatest returns and whether it would be more profitable to increase or decrease the spend in the available sales and marketing channels.
All these challenges and many more can be answered with ScanmarQED’s software. Harmonize your historical data to understand what drives both your consumers and the prescribing physician to help, and the return on investment of each activity to gain initial insights. Then, turn this into action by running scenarios to test what would happen if you increased your sales force, reduced the level of sampling, or increased your advertising budget.
Typical questions we address include:
- In which categories and customer segments should we be increasing and decreasing our investments to meet future goals?
- How do I get a unified view of all the activities we’re engaging in – how do we get to a single point of truth?
- Are my sales force performing to a level we would expect and if not, what do we do about it?
- What is the ROI on marketing and media activities and what is it likely to be in the future?
- If we want to attract a different customer segment, what can we do from a marketing point-of-view to influence this?
- Are my sales and promotional operations working effectively? Are my plans aligned to my objectives?
- What’s the latest forecast for sales by product or by segment and what can we do to increase this?
ScanmarQED’s software tools can help your organization answer any of these questions, so contact us today to discuss options.