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.
Challenging times lay ahead for the sales departments in the pharma industry. The COVID-19 pandemic will surely not be the first disruption, as recent geopolitical tensions, and economic turmoil show. Agile and adaptive sales enablement is thus a must-have in the coming months and years.
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Lower prices, discounts, convenience of ordering and home delivery are some of the benefits for consumers with e-pharmacies. The anonymity of the internet encourages patients to seek information about medicines that they would otherwise avoid. Mental health is one area where the consumers wish to maintain confidentiality and opt for online consultation and medication.