Starting with 7 employees in 2011, Laurs and Bridz consisted of 70 MRs by September 2017, reporting to an ASM in groups of 7. The Area Sales Managers (ASMs) in turn reported to Zonal Sales Managers (ZSM). MRs would primarily convince doctors to prescribe their product. However, the MRs would also analyse sales statistics and prepare numerous reports. The Indian Pharmaceutical Market enjoyed a CAGR of 17.5% between 2005 (US $6 Bn) and 2016 (US $36.7 Bn) and was predicted to reach $55 Billion in sales by 2020. However, branded generics made up for 80% of this market share. The profitability was predicted to go down due to government drug price control. Companies were no longer allowed to give gifts to physicians, one of the major tactics deployed by pharmaceutical companies to retain physician loyalties among others. With sales tactics becoming obsolete, it became paramount for pharmaceutical companies to improve the efficiency and effectiveness or their MRs. It had become increasingly important for MRs to keep a track of influential stockists and ensure the availability of sufficient inventory in their respective regions. The only way to solve this issue was deploy CRM solutions available in the market. CRM tools made it possible for pharmaceutical firms to collect and collaborate information about
different business processes in Marketing and Sales. Sales Force Automation (SFA) was the core of CRMS, helping MRs to automate the workflow across the entire sales cycle. The SFA consisted of two major components- Opportunity Management and sales forecasting. OM allowed MRs to collect all customer related information, ranging from personal details to purchase patterns and make it available to the sales and marketing Team. The sales forecasting tools helped the managers gain insights of the sales pipeline and ensure smooth inventory availability and avoid any shortage. With a budget of Rs 50 Million including Rs 8000 per tablet and a data pack of Rs 500 per month per employee, Manu Chaudhary, the Marketing Manager of L&B shortlisted four CRM solutions, namely CRMNEXT, PROPHETCRM and Veera CRM and ADANI CRM. The question remains which CRM should Laurs and Bridz opt for, and whether RS 50 million is an investment worth considering.
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- Marketing, Customer relationship management