Competing For Share Of Global Pharmaceutical Industry Spend In 2010-2011. Key Actions To Overcome Business Threats: Driving Sales25 Oct 2010 • by Natalie Aster
London - ‘Customer relationship management’ comes up as the most important step being taken by all companies across the pharmaceutical sector. Other important strategies implemented are ‘business development, ‘new market entry’ and ‘new product development ‘. New market entry gives the companies an opportunity to penetrate less explored markets and tap new demographics. The industry is looking at emerging markets for growth as emerging pharmaceutical markets remain impressively buoyant.
A manager from a pharmaceutical industry supplier in Western Europe states “Invest in high potential areas (geographically and brands), manage lower priority areas. Move toward innovative marketing approaches”; which emphasizes the seriousness with which the pharmaceutical industry is considering new product development as their pipelines are drying up and they want to tap new markets in order to increase their sales. For example, Pfizer is developing CP-751871 compound for non small cell lung cancer, which is in phase 3. Similarly, Hoffmann-La Roche is developing RG7201 for type 2 diabetes and is in phase 2.
More information can be found in the report “Competing For Share Of Global Pharmaceutical Industry Spend In 2010-2011: Supplier Marketing & Sales Strategies & Industry Outlook” by iCD Research.
Published: March, 2010
Price: USD 2,000
Report Sample Abstract:
The most important marketing aims do not vary significantly when segmented by expected change in future marketing expenditure. Marketing aims of companies which are expecting a decrease in expenditure have identified ‘customer retention’ and ‘customer acquisition’ as their major aims. The return on investment from ‘brand building and awareness’ takes a longer time to materialize than customer retention and acquisition, wherein companies will have higher sales or revenue generation within a short time span.
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