Implementing a New Commercial Model
The new market reality is here, and many pharmaceutical companies are responding to meet the demands of the future with new commercial models. Indeed, the future will shape not only how pharmaceutical manufacturers go to market, but what they market.
Consider this: In just 5 years, the world’s leading pharmaceutical markets will be dominated by products that are largely undifferentiated from their competitors, resulting in many of the industry’s representatives being either displaced or assigned new responsibilities. At the same time, diverse stakeholders will look to the industry for improvement in the holistic treatment of disease — improvements that extend beyond the benefits of a chemical compound.
In order to thrive within this environment, how must pharmaceutical companies evolve their commercial strategies and operations? What do they need to do beyond the legacy approaches to changing salesforce deployment only? At what rate and pace must these changes in pharma commercial operations occur? In short, what will the pharmaceutical new commercial model look like?
IMS has a proven methodology and framework to help guide new commercial model development across five key areas — from situation analysis to implementation.
1. Understand the Market Landscape of the Future: Establish a common point of view on how the healthcare environment will change over the short- and long-term
2. Develop a Strategic Plan: Identify what the future healthcare landscape will look like and the implications that landscape will have on your capabilities, portfolio or franchise
3. Define the New Capabilities Needed: Assess your current capabilities and identify the gaps your organization has in all areas, such as marketing, technical, motivational, knowledge management, reporting, selling, and analytical capabilities that may preclude you from getting to your future state
4. Put the Right Organization in Place to Support the Strategy: Assess your options and decide on the most suitable organizational structure, keeping in mind the impact on your brands and franchises
5. Execute, Implement and Track: Roll out your new commercial model using best practice approaches, including defining and prioritizing local capability requirements, managing change behaviors and monitoring performance on an ongoing basis
For more information on how to design and implement your future commercial model, contact us.
To learn more about the research we conducted, see below.
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Executive Summary:
IMS Special Report on New Commercial Models
Click here to download the executive summary of our full report, which highlights the findings of our research and the implications for your organization.
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IMS Special Report:
Understanding New Commercial Models in the Pharmaceutical Industry
For a copy of the full IMS Special Report on New Commercial Models, sign-up here.
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