ayman global challenges in pharmaceutical industry
TRANSCRIPT
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Overcoming the global challenges in pharmaceutical industry.
Ayman Ahmed Zakon lineBur Dubai area
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Global challenges in pharmaceutical industry
Pharmaceutical industry’s future has never looked more promising due to the current & upcoming challenges .
The good news major scientific, technological and socioeconomic changes will revivethe industry’s chance , but thesetrends will require making crucial decisions first which resulted in gaining more & more competitive edges .
2012-2015 PwC
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Current global challenges in pharmaceutical industry
Customer challenge
Market challengeMedpharma challenges
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Current Medpharma challenges in pharmaceutical industry
Cost of production of superior quality products.
Hiring of talented people.
Investment in its capital people.
Cost of production through investing in its assets ( machines , lines of production & invading new market potentiality).
Aggressive recent investments expecting big revenue.
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Current global challenges in pharmaceutical industry market
The market’s getting much tougher, with tighterRegulation & harsher price controls.
Market corruption.
Tough competition.
Generics reputation.
Changing in market potentiality.
Changing in customer & consumer potentiality.
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Current global challenges in pharmaceutical industry customer
Raising customer expectations .
Best quality .
Best results .
Less side effects .
Low price .
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Upcoming global challenges in pharmaceutical industry
Increasing cost of production .
More & more competition .
Financial crisis & governmental regulations.
Poor scientific researches
Changing in market potentiality .
One trial may destroy a company .
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What is competitive edge?
What can't be defined , can't be measured , can't be controlled & can't be improved .
competitive edge is the superior performance relative to other competitors in the same industry.
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Medical representative competencies in order to have a competitive edge
Competency is a cluster of related skills, behavior, knowledge, and experience that enable a person to act Efficient in a job .
Skills:Selling skills.Presentation skills.Communication skills.Negotiation skills.Time management skills.Territory management skills.Planning skills.Customer caring skills.
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Medical representative competencies in order to have a competitive edge
Behavior :Self motivated.Hard worker.Honest.Team worker.Proactive.
Knowledge :Product knowledge.Medical knowledge.Market knowledge.Competitors knowledge
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Business model to manage my competitors in order to have a competitive edge
PRODUCT DIFFERENTIATION.
QUALITY DIFFERENTIATION
IMAGE DIFFERENTIATION
SERVICE DIFFERENTIATION
Medical representative should utilize his / her competencies in order to have a competitive edge over the competitors through :
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Business model to manage my competitors in order to have a competitive edge
Masking customer needs.
Feed back.
Efficient use of resources
Product SOWT analysis.
Sustainable competitive advantage.
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Practical real life examples
Example 1 : Carnitole ( L-Carnitine)Product portfolio :Indications : Athenozoospermia.Target customers : Andrology & Dermatology.Competitors : Carnivita forte & L-carnitine.Market analysis : Carnivita is the market leader with market share 50%.SOWT analysis :
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Practical real life examples
Example 1 : Carnitole ( L-Carnitine)Objective : is to gain over 20% market share.
Strategy : is to penetrate Mansoura university hospital through the follow up with KOL DR.Moheb Mansour & build relation with him to be as an advocate customer.
Results: my Carnitole PPG in 2010 was 603% with Dkahlia market share 40% & by the end of 2013 my Carnitole sales contributed 15%from total Carnitole sales.
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Practical real life examples
Example 2 : G-PACK ( Ginseng & ginko biloba)Product portfolio :Indications : chronic fatigue syndrome.
Target customers : G.P & I.M.
Competitors : Arcalion .
Situation analysis : relaunching of G-PACK after 2 years out of stock , last G-PACK sales record was 70% & it will be relaunched with 20% target contribution.
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Practical real life examples
Example 2 : G-PACK.Objective : is to overachieve by the end of the 1st quarter.
Strategy : is to build a new customer base in blue ocean area in order to have a quick response & follow up with pervious G-PACK customers in order to regain their trust & support within 3 months.
Results: G-PACK achievement in the 1st quarter was 101% , G-PACK overall achievement was 120% & I was ranked no 1 among G-PACK line best achievers.
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Thank you