When pharma met Key Account Management: from rocky beginnings to value-added relationships
90 page + report 'Pharma Key Account Management' from eyeforpharma is the first instance that an extensive array of experience has been pooled on KAM in pharma which maps out a step by step guide to the information you need to improve customer relations and increase profit.
- (1888PressRelease) September 16, 2011 - Pharma has traditionally resisted the implementation of Key Account Management (KAM) that sectors such as banking have embraced. Instead, a transactional focus has been conservatively maintained. However, increasing budgetary and political pressures on healthcare systems means customers often expect better results for less. Purchasers are setting priorities and objectives, whilst looking to pharma to deliver cost-effective solutions. With declining growth rates in mature markets, there has never been a better time for pharma to implement KAM.
This ground-breaking 90 page + report 'Pharma Key Account Management' from eyeforpharma is the first instance that an extensive array of experience has been pooled on KAM in pharma. The author, David Wright, draws on 20 years experience leading account management within blue chip companies, and expertise from top pharma companies such as Pfizer, GSK, and AstraZeneca to deliver maximum value through this report.
The report amalgamates 111 interviews with senior pharma executives, stakeholders, key account management executives, pharma executives and analysts with findings from 956 responses to two web-surveys within the pharma community.
Combined, the data gives unprecedented insight into:
- Overcoming KAM challenges unique to pharma, such as restricted access to customers and regulatory restrictions
- Misconceptions of KAM and its true purpose
- Capturing KAM progress through metrics
- Necessary structural, cultural and practical changes to make KAM successful
- Possible rewards if KAM is successfully embraced and deployed, such as increased customer retention rates, or earlier approval of treatments through risk share approaches.
Interviewees possessed diverse expertise from business strategy to KAM implementation and backgrounds ranged from pharma, to clinical, to health care providers.
Findings within the report identify common practices, the extent of challenges presented by KAM, and the solutions needed; nearly 50% or survey respondents reported clarity, vision and language consistency surrounding KAM needed improvment.
Real examples show how others have successfully:
- Identified key accounts
- Developed value propositions and delivered value. For example through the use of patient adherence programs, risk share and linked event analysis.
- Measured KAM impact and changed metric profiles
- Developed KAM teams, allocated responsibilities and provided incentives
This report is only the start of the Key Account Management discussion. If you are interested in talking further about this report or Key Account Management, then please do not hesitate to contact me. For associated articles on this topic visit eyeforpharma website.
Victoria Stinson
Head of Market Insights | eyeforpharma
Tel: +44 (0)207 375 7175
Email: vstinson ( @ ) eyeforpharma dot com
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