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What Exactly Does Going Digital Mean?
Going digital is not about Social media or Omni channels. Is it about asking simple questions.
Best Buy is one of the largest electronic good retailers in USA. Few years ago Best Buy was threatened by what is now known as Showrooming effect. Basically customers would walk into its showrooms get benefitted by the advice of the salesperson, decide on the model and then go online to buy the product on Amazon because of low prices. Despite having one the best footfalls in the decade Best Buy recorded reduced profits. Although it did try to Price match Amazon they knew it was not a long-term solution because of its cost structure (Physical showrooms, salespeople etc). They couldn’t block the customers from checking price of product on Amazon. Future looked uncertain, everyone thought game over for Best Buy which was the case with many other retailing giants. No amount of investing new technology would have helped Best Buy .
Best Buy relearned how to make profits. Best Buy proposed to the manufacturers that they compensate Best Buy for exclusive showcasing of manufacturers new products. Manufacturers also could launch specific brand kiosks within Best Buy showroom for a fee. This new model which had zero investment for Best Buy dramatically increased its profitability.
Is this a ground breaking innovation? Of course NO. This has already been practiced in other industries but for the first time tried in Electronic good Retail. Best Buy realized apart from consumers it created lot of value for manufacturers therefore it captured the value lost from consumers from manufacturers.
What is my business? What is my business ecosystem? How do I currently make money? How changing one thing impacts my ecosystem? What are the options available?
Indian Pharma – The Emerging Role of Hybrid Sales Model
COVID-19 has accelerated the shift in how pharma was engaging with HCPs, professional organisations and even patients in India from a sales to more of a scientific, unbiased and balanced marketing communications. As one of the business leader from a prominent MNC said, “For the first time we are seeing a certain shift in HCP’s preference for scientific communication for innovators companies. MSLs and scientific operation teams will be playing a key role in the near future.”
Winning Sales Organization
"Digital in Pharma" Special Issue. Invitation to DigiStorm2017, How to Create a Winning Sales Organization and DigiPharmaX. Avail Early Bird Discount - details inside.
First Approach in Pharma
Independence Day Special issue with Vivek Hattangadi tracing the India pharma brand story from before Independence till today.
Healthcare Disruption – Will Ola, Swiggy, Pharmaeasy, and Hospitals Converge to Deliver Health Care on Call at Your Doorstep?
How long before digital Unicorns like Ola, Swiggy, Pharmeasy, and many others realize the humongous opportunity of delivering health care at the doorstep?
Imagine an app like Ola, where instead of entering where you want to go, you enter the nature of your medical need/emergency and search and find a range of hospitals/doctors/paramedics who can act as the first responders and reach your home in an ambulance or a motorbike with an HCP as a pillion rider with all necessary equipment from the thermometer to defibrillator depending on the nature of the medical care needed and triage and route you/your loved ones to the nearest hospital with an indicative cost of treatment in partnership with health insurance companies?
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AI and the Future of Pharma Field Sales: Boon or Bane?
India’s pharmaceutical industry runs on the strength of its...
Semaglutide – More Than Just a Patent Battle
The Delhi High Court has restrained Dr. Reddy’s and...
Novo Nordisk — Septerna’s $2.2 Billion Deal
A New Era for Obesity Pills
Novo Nordisk has announced...
Will TATA Succeed in Reinventing Indian Pharma Retail through 1 MG Hybrid?
Tata 1mg App Business Model: How does it work...
GSK Bets Big on Liver Disease: $1.2B Upfront for Boston Pharma’s MASH Drug
In a bold move to strengthen its hepatology pipeline,...
AI and the Future of Pharma Field Sales: Boon or Bane?
India’s pharmaceutical industry runs on the strength of its...
Semaglutide – More Than Just a Patent Battle
The Delhi High Court has restrained Dr. Reddy’s and...
Novo Nordisk — Septerna’s $2.2 Billion Deal
A New Era for Obesity Pills
Novo Nordisk has announced...
Will TATA Succeed in Reinventing Indian Pharma Retail through 1 MG Hybrid?
Tata 1mg App Business Model: How does it work...
GSK Bets Big on Liver Disease: $1.2B Upfront for Boston Pharma’s MASH Drug
In a bold move to strengthen its hepatology pipeline,...
AI and the Future of Pharma Field Sales: Boon or Bane?
India’s pharmaceutical industry runs on the strength of its...
Semaglutide – More Than Just a Patent Battle
The Delhi High Court has restrained Dr. Reddy’s and...
Novo Nordisk — Septerna’s $2.2 Billion Deal
A New Era for Obesity Pills
Novo Nordisk has announced...
Will TATA Succeed in Reinventing Indian Pharma Retail through 1 MG Hybrid?
Tata 1mg App Business Model: How does it work...
GSK Bets Big on Liver Disease: $1.2B Upfront for Boston Pharma’s MASH Drug
In a bold move to strengthen its hepatology pipeline,...
Hot topics
Pharma – Physician Interactions in the Digital Era
Indian Pharma companies will have to create hybrid employees, who can be designated as the Digital Task Force (DTF).
Just as STFs were created to create a better perception and improve engagement with specialist doctors, DTF can rebuild relationships with doctors on a new premise of helping them to gain digital advantage to better manage their practice and patients.
Are Indian Pharma Business Leaders Adopting Digital Transformation?
We will need to find a way to bring together the capabilities of the Medical Rep, the changed scenario of the visit and the ways we can reach doctors into one single strategy rather than looking at the physical and the digital parts separately. Our medical reps will continue to be the core of our promotion, and our digital strategy will need to empower them to not only do a better call but also support their efforts by building processes that will help them beyond the few minutes that they spend in the Clinic. Marketing budgets will have to move away from conventional investments and also think beyond hardware to increase digital engagement.
Specially Designed Case Study based Modules for Pharma Marketing Professionals
More than digitalizing your product promotions, the case calls for building and engaging your brand community through digital solutions that create memorable customer experiences.
With the new normal emerging, the traditional Pharma commercial model needs to be relooked by exploring alternative channels of engagement, which offer opportunities to create value for customers.
Company-specific digital adoption workshops to experience how a brand can be promoted using the omnichannel approach with field force involvement.
Without Re-skilling, You’re as Good as Un-Schooled
Pharma companies that used large field forces for multiple divisions, selling the same me-too products to create a resounding Share-of-the-Voice in the market are beginning to Stare-at-the-Diminishing-Returns for investments on traditional sales and marketing strategies, if they can be called strategies at all in the first place.
Most pharma companies and professionals like Black & Yellow cabs, continue to hope against hope, that somehow they will be able to continue to hold on to their businesses and jobs till their shares are sold and EMIs are paid. After that, who cares?
The answer to pharma and healthcare’s challenges will need a combination of profound domain knowledge and experience combined with digital skills to engage Rx customers meaningfully.
Will TATA Succeed in Reinventing Indian Pharma Retail through 1 MG Hybrid?
Tata 1mg App Business Model: How does it work...
AI and the Future of Pharma Field Sales: Boon or Bane?
India’s pharmaceutical industry runs on the strength of its...
Semaglutide – More Than Just a Patent Battle
The Delhi High Court has restrained Dr. Reddy’s and...
Novo Nordisk — Septerna’s $2.2 Billion Deal
A New Era for Obesity Pills
Novo Nordisk has announced...
Will TATA Succeed in Reinventing Indian Pharma Retail through 1 MG Hybrid?
Tata 1mg App Business Model: How does it work...
GSK Bets Big on Liver Disease: $1.2B Upfront for Boston Pharma’s MASH Drug
In a bold move to strengthen its hepatology pipeline,...
AI and the Future of Pharma Field Sales: Boon or Bane?
India’s pharmaceutical industry runs on the strength of its...
Semaglutide – More Than Just a Patent Battle
The Delhi High Court has restrained Dr. Reddy’s and...
Novo Nordisk — Septerna’s $2.2 Billion Deal
A New Era for Obesity Pills
Novo Nordisk has announced...
Will TATA Succeed in Reinventing Indian Pharma Retail through 1 MG Hybrid?
Tata 1mg App Business Model: How does it work...
GSK Bets Big on Liver Disease: $1.2B Upfront for Boston Pharma’s MASH Drug
In a bold move to strengthen its hepatology pipeline,...
AI and the Future of Pharma Field Sales: Boon or Bane?
India’s pharmaceutical industry runs on the strength of its...
Semaglutide – More Than Just a Patent Battle
The Delhi High Court has restrained Dr. Reddy’s and...
Novo Nordisk — Septerna’s $2.2 Billion Deal
A New Era for Obesity Pills
Novo Nordisk has announced...
Will TATA Succeed in Reinventing Indian Pharma Retail through 1 MG Hybrid?
Tata 1mg App Business Model: How does it work...
GSK Bets Big on Liver Disease: $1.2B Upfront for Boston Pharma’s MASH Drug
In a bold move to strengthen its hepatology pipeline,...
AI and the Future of Pharma Field Sales: Boon or Bane?
India’s pharmaceutical industry runs on the strength of its...
Semaglutide – More Than Just a Patent Battle
The Delhi High Court has restrained Dr. Reddy’s and...
Novo Nordisk — Septerna’s $2.2 Billion Deal
A New Era for Obesity Pills
Novo Nordisk has announced...
Will TATA Succeed in Reinventing Indian Pharma Retail through 1 MG Hybrid?
Tata 1mg App Business Model: How does it work...
GSK Bets Big on Liver Disease: $1.2B Upfront for Boston Pharma’s MASH Drug
In a bold move to strengthen its hepatology pipeline,...
MedicinMan was launched in 2011 as India’s 1st Magazine dedicated to the cause of Field Force Excellence in Pharma and Devices.
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Headlines
AI and the Future of Pharma Field Sales: Boon or Bane?
India’s pharmaceutical industry runs on the strength of its...
Semaglutide – More Than Just a Patent Battle
The Delhi High Court has restrained Dr. Reddy’s and...
Novo Nordisk — Septerna’s $2.2 Billion Deal
A New Era for Obesity Pills
Novo Nordisk has announced...
Will TATA Succeed in Reinventing Indian Pharma Retail through 1 MG Hybrid?
Tata 1mg App Business Model: How does it work...
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