pharmacy career options.ppt

8/14/2019 Pharmacy Career Options.ppt

1/19

Sales & Marketing Career

Options - Pharmacy


2/19

Early Struggle in every Field

Be prepared to struggle for the first 2 years..be concerned if > 2 years

Learning more important than earning in the first few years of career


3/19

Segmenting Sales & Marketing

Sales & Marketing

Career Options

Sales Marketing

Brand Management Other RelatedMarketing Careers

Business Development

MBAEssential

MBAEssential


4/19

Medical Sales Representative - Maximum

Opportunities & Most easily available Job

Doctor

Promote Co. Brands

Maintain Rx support

Generate New Rx

Doctor meetings

Chemist

Check Rx support

Competitor Rx

POBAvailability of

new products

Distributor

Monthly order (value)

Supply coordination

Manage inventory levels

Settle credit notes


5/19

Sales Representative - Maximum

Opportunities & Most easily available Job

Negatives of Sales Representative

Can hurt the ego

- Are we equal to B.Sc. Graduates?

Pressure assignment:

- Challenging Sales Targets

- New Product Launches

- Managing relationships (Doctors,

Chemists, Distributors)

Basic Pay Scales relatively low

Time frame for moving to the next level(Area Sales Manager) not easy to

define

Positives of Sales Representative

Sales experience valuable for marketing

assignments

- Waiver of Sales Stint post MBA

- More respect from Senior Managers- You make a better Brand Manager

- Better relationships with Sales Team

- Product knowledge increases

Compensation can go high:

- Large monetary sales incentives

- Foreign escapades for top achievers

Flexible timingsMore time forcompetitive exam preparations

Challenging customers become friends

Dearth of good sales managersArea SalesManager

SalesRepresentative

Zonal

Sales Mgr

Regional

Sales

Manager

Target MNCs if opting for Sales Representative


6/19

Sales Representative API Companies

Negatives of API Sales

API Sales is a very price competitive

market

API companies always looked upon on a

lower level compared withpharmaceutical marketing companies

Can become difficult to move into

pharmaceutical marketing companies

Few professional companies to choose

from

Always in fire fighting mode..pressureassignment

Positives of API Sales

More respectable sales assignment

Global MNC Companies are setting up

API manufacturing facilities / sourcingaggressively

Dearth of good professional

talent.good scope for growth

Can serve as a stepping stone to build

good contacts

Matrix, Biocon, Strides Acrolabs, Shasun, Dishman


7/19

Role of a Product Manager

Doctor Strategy

Product Strategy

Promotional inputs

Conference

AdvertisingSales Representative

Training of Sales

Rep

Outlining strategy

Incentive scheme

Competitor

handling

Chemist / Distributor

Increase order

Maintain inventory


8/19

Bulk of Marketing RolesProduct

Management

Positives of Product Management

Head Office / Corporate Office assignment

More satisfying assignment

- Dominated by MBAs (M. Pharms,

Ph.Ds, Non-MBAs)

- Closer to Top Management

- Command respect from Sales Team

Greater use of Pharmacy knowledge /

MBA learning's

Higher Pay Scales

Quite a few fringe benefits

- Lots of domestic travel

- International conferences

- Individual Training

Negatives of Product Management

Priority of Product Portfolio critical

Peer Pressure High

Challenge to innovate every Sales Cycle

Multitasking most times

Too much compulsory traveling can get

irritating

Higher positions fewer compared with the

number of contenders many

Is it really a marketing battle?

Product

Manager

ProductExecutive

Senior

Product

Manager

Marketing

Manager /

Group

Product

Manager

General

Manager


9/19

Roles in Business Development

Licensing

Assessing Product Mkt

Potential

Which territories?At what price?

Licensing strategy

Strategic Marketing

Which TAs to focus on?

New products?

Which division?Product Pipeline

Market analysis


10/19


Positives of Business

Development

Niche assignmentHigh Market Value

More scope for innovative work / projects

Gaining lot of prominence within industry

post Product Patent Regime

Scope for interaction with top management

higher

Few companies have formal business

development departments

Move away from OperationsDifficult to

quantify contribution

Decision making under uncertainties /

assumptions

Growth dependent on Company

commitment

Negatives of Business

Development

Licensing, New Product Evaluation, Strategic Marketing


11/19

Roles in International Marketing


Future Product Pipeline?

Market Analysis

Project Management

Operational Role

Registering Co. Prdts

Entry strategy

Launch Co. & ProductsMeeting sales targets

Future Growth?

Product Manager for

International Markets


12/19

International Marketing

Positives of International

Marketing

Higher Esteem

Demand for international managersgrowing..Indian Companies going

global

Opportunities for foreign travel / posting

Work more focusedless product

launches

Choice of companies can be

lower.though growing constantly

Market / Country responsibility critical forgrowth (regulated or non-regulated?)

Foreign postings are not easy to adapt to

Turning out to be a competitive market

Profits in generic market segment eroding

Negatives of International

Marketing

Ranbaxy, Dr. Reddys, Sun Pharma, Lupin, Cadila, Glenmark


13/19

Healthcare Advertising

Positives of Healthcare

Advertising

Working environment more fashionable

Tend to gain a more creative outlook

Healthcare advertising a very big industry

internationally

Work more focused on marketing

Very small segment within the advertising

fieldGrowth slower

Commitment of advertising agencies not

very highJob security not strong

Difficult to get new projectsfighting

against Product Managers Pharma

currently not prepared to outsource

Lots of pitching

Flat organization structureNo

fancy designations

Client servicing could turn out be a painful

experience

Negatives of Healthcare

Advertising

Account

Manager

AccountExecutive

Account

Director

FCB Ulka, Contract Research, McCann Erickson, Ma Bozell


14/19

Market Research

Positives of Market Research

Pharma Company:

No direct responsibilityMore of a

service role (Less pressure)

No travelMore of a desk role

Pure Market Research Companies:

Consulting role experiences

KPO organizations mushrooming off late

Offer higher pay scales

Negatives of Market Research

Pharma Company:

Growth pace could be slower

Difficult to move to new roles

Pure Market Research Companies:

Travel could be highif client servicing

forms core responsibility

Flat organization structure

Fewer companies in Pure Market

ResearchLess options for change

IMS-ORG, IMRB, CMARC, Market Rx


15/19

Mergers & Acquisitions

Positives of Mergers &

Acquisitions

Pharma Company:

Feels Great factor

Opportunity in Top Rung Global

Companies

Lucrative opportunities in Private Equity

Firms

Private Equity Firms:

High Pay ScalesIncentive linked to asset

purchase / sale

India on the radar of many PEs

Pharma Company:

Growth opportunities limited within Pharma

Role satisfaction dependent on Company

appetite for M&A

Private Equity Firms:

High Pressure assignments

Growth dependent on number of deals

signed

Organization structure mostly flat

Negatives of Mergers &

Acquisitions


16/19

Consulting Firms

Positives of Consulting Firms Negatives of Consulting Firms

Great Pay Scales..Taken good care of

Lots of travel.on clients bill

Opportunity to build good network withinthe industry

Aura of being knowledgeable

Lots of pitching..pressure to get &

maintain accounts

Always working on deadlinesLate & Odd

working hours

Pressure to show incremental value

Buy IntegrateSell - Keep the client

always on the billing cycle !!!

Difficult to get back to industry

Role could be very industry specificCan

be detrimental to growth

Mckinsey & Co., Bain & Co., Ernst & Young, Accenture


17/19

Business Analyst

Positives of Business Analyst Negatives of Business Analyst

Good Pay Scales

Investment linked incentivesBuoyant

stock market

Good demand

Very competitive environment

Growth linked to stock market performance

/ sector performancePortfolio performance

Ability to read between lines / dissect

company announcements

Job can get monotonousgenerate

reports

JP Morgan, Enam Securities, CLSA, Merill Lynch


18/19

MBAFrom Where? Which Course?

IIMs, XLRI, SP Jain

MMS of Reputed Colleges

PG Courses of Reputed

Courses / Pharma Mgmt.

2 Years

MMM

(Masters in

Mktg.

Management)3 Year Part

Time Degree

Course


19/19

Thank You

pharmacy career options.ppt

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