greatest pharma myths and facts

Greatest Pharmaceutical SalesMyths and Facts

Presented By

Masum ChowdhuryManager, SBMD

Asiatic Laboratories Ltd.

Sales Force is the most Expensive Promotional

Resource for all Pharmaceutical Companies.

IMS stated that:

“The majority of Chief Executives recognizes

the need to change their Business

Policy, many are struggling with how to do

so".

The key to start developing new Business

Policy is, understanding what myths may

be holding you back from propelling you

company's growth curve.

• Myth: Tri Ads are better than Bi Ads. Bi

Ads are better than single Medical

Representative Coverage.

Fact: Once you add more than one Medical

Representative/Product/Physician, you

lose Accountability and Ownership.

• Myth: We have a strong Sales Force

based on Experience and Knowledge.

Fact: Experience and Knowledge is

only a small factor in sales success.

Can they sell? Will they sell?

• Myth: We promote our best and brightest

Medical Representative to sales

management roles.

Fact: Unless you are developing your new

Field Managers to be Strong

Coaches, Leaders and Business Managers

you just made 2 mistakes.

You lost a top Medical Representative and

now have a Poor Sales Manager.

• Myth: We have a very Experienced Sales

Management Team.

Fact: If you don’t invest for developing

Coaching, Leadership and Intelligence of

Field Managers, you will get same

Performance like before you have had for

years.

• Myth: We invest significant amount of money

and resources on Medical Representative

training.

Fact: Unless training is supported by in-

field coaching and reinforcement, 90% is

forgotten in 30 days.

• Myth: All we need to do right size of our

sales force.

Fact: You need to look at other factors like we

are targeting better, do Medical Representative

have a sense of ownership, and our Sales

Managers is a great coaches. Otherwise, your

new sales team is going to give you the same

results.

• Myth: Slow gradual change is the way to

go. If we change a little every year, we

can eventually get it right.

• Fact: Radical change has been required

for years, yet no one has the courage to

challenge the norm.

• Myth: All we need to do is bring in

IMS, and they can tell us, what the best

model is.

Fact: They were the ones who got you

into this problem. Who says they can lead

you out of it? If your new model fails you

can always say we consulted the best and

brightest.

Do you have any Question, Please??

?

Thanks

Prepared ByMasum Chowdhury

Manager, Strategic Brand Management Department

Asiatic Laboratories Ltd.masum.pha@gmail.com,

+880-0171-7642874, +880-0193 7990014