Tags |
|
|
Links |
|
|
Useful Advices - In Summary - What Is Major Account Management All About?
Major Account Management Is a Long Term Process - It Takes Time:
We must recognise that we are in Major Account Management for the long term. It takes time to manage a major account and we will only receive a payback on our investment in time if we can have a long term result. In some of the organisations we have worked with this produces a tension because the whole culture is about creating a short term sales result in which product and profit are t
We must recognise that we are in Major Account Management for the long term. It takes time to manage a major account and we will only receive a payback on our investment in time if we can have a long term result. In some of the organisations we have worked with this produces a tension because the whole culture is about creating a short term sales result in which product and profit are t
According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product
he main drivers and measures of success. We should not underestimate what a challenge Major Account Management can be to the corporate culture. It emphasises relationship more than product, profit more than volume, and team more than individual, long term more than short term. At the same time the practical short term realities of business life need to be recognised.
One of the best ways of managing this tension is to have someone who acts as a mentor, cons
One of the best ways of managing this tension is to have someone who acts as a mentor, cons
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
cience or guide to the account manager and account team. They are not involved in the day to day management of the account but are invited in to look at and comment on major proposals and presentations. Their main role is to be involved in reviewing the long term plan every few months to ensure that the relationship is as productive as possible and is reflecting the values of the organisation as a whole.
The role of the major account manager is to be respon
The role of the major account manager is to be respon
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
sible for the overall relationship. They influence all those involved in the account to ensure a co-ordinated, synchronised approach. The major account manager is responsible for drafting the account plan, gaining the agreement and commitment of the team and then monitoring implementation
Major Account Management Involves Relationships Not Just a Mechanical Approach:
Under this heading we should discuss three main aspects of major account management
Major Account Management Involves Relationships Not Just a Mechanical Approach:
Under this heading we should discuss three main aspects of major account management
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
.
• The importance of relationships in Major Account Management.
• The complexity of relationships in Major Account Management.
• Mapping relationships in Major Account Management.
Importance:
In Major Account Management it is essential that we manage people as well as processes. Of course we must get the product pricing right. We need to be excellent at administration. Our customer service and product range need to be strong. But “people buy fro
• The importance of relationships in Major Account Management.
• The complexity of relationships in Major Account Management.
• Mapping relationships in Major Account Management.
Importance:
In Major Account Management it is essential that we manage people as well as processes. Of course we must get the product pricing right. We need to be excellent at administration. Our customer service and product range need to be strong. But “people buy fro
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
m people” and “we are in a people business”. To manage the complex range of relationships within a major account is difficult and demanding but our ability to manage relationships will define whether or not we sustain success.
Complexity:
In a reactive sale there is only one relationship - that between the seller and the buyer. In major accounts the situation is much more complex. There are often contacts going on at many levels and many locations.
Complexity:
In a reactive sale there is only one relationship - that between the seller and the buyer. In major accounts the situation is much more complex. There are often contacts going on at many levels and many locations.
ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc
In one major account, we have identified 1000 relationships between the account team of ten people and individuals representing the client. But it is not just a problem of numbers, it is often a problem of politics. Some contacts do not want us to talk to people in other departments or at different levels. It can also be that the complexity is caused by product range. The users of one product rarely speak to the specifies for another product. In any complex
easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi
elationship some people will like us more than others. This is to say nothing of inter-departmental tensions. All these things make major account relationships complex and we need to recognise their complexity.
Mapping:
If relationships are important and if relationships are complex then it is essential that we find a way of mapping, analysing, planning and monitoring those relationships. Over recent years we have found that an approach based on the
Mapping:
If relationships are important and if relationships are complex then it is essential that we find a way of mapping, analysing, planning and monitoring those relationships. Over recent years we have found that an approach based on the
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
game of chess allows a very practical way of identifying the key issues.
If we can answer these questions confidently and communicate our thinking across the account team simply and clearly then we will be half-way to success. This approach has given people across a broad spectrum of organisations a common language and way of working
It Can Only Be Done With Selected Customers:
The final word from this definition is selected. Choosing the right ke
If we can answer these questions confidently and communicate our thinking across the account team simply and clearly then we will be half-way to success. This approach has given people across a broad spectrum of organisations a common language and way of working
It Can Only Be Done With Selected Customers:
The final word from this definition is selected. Choosing the right ke
and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ
y accounts is of critical importance for three main reasons:
• We do not have the resources to treat every customer as a key account.
• Not every customer wants to be treated as a key account.
• Selection allows us to prioritise our activities in line with our overall business objectives.
Many organisations grade their major accounts simply by the size of sales for the year but the organisations we see that are really moving forward in Major Account Mana
• We do not have the resources to treat every customer as a key account.
• Not every customer wants to be treated as a key account.
• Selection allows us to prioritise our activities in line with our overall business objectives.
Many organisations grade their major accounts simply by the size of sales for the year but the organisations we see that are really moving forward in Major Account Mana
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
gement take a number of other factors into account. They also make sure that everybody knows who the major accounts are and why they are major accounts. It is important to be rigorous with the selection criteria you use! You will also need to apply some form of weighting to reflect your priorities. The fact that a major account does not meet all your criteria will not disqualify it from being a major account. It will just need to score higher in other areas
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
to qualify.
On the basis of this scoring, organisations can grade their accounts. They might be Premier, 1st and 2nd Division like a football league, or Gold, Silver and Bronze like Olympic medals or First Class, Club Class, Economy and Standby like an airline. The analogy of an airline is a good one because on one flight you can have people on Standby being entirely happy with the service they are getting, even though they know there are people getting “be
On the basis of this scoring, organisations can grade their accounts. They might be Premier, 1st and 2nd Division like a football league, or Gold, Silver and Bronze like Olympic medals or First Class, Club Class, Economy and Standby like an airline. The analogy of an airline is a good one because on one flight you can have people on Standby being entirely happy with the service they are getting, even though they know there are people getting “be
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
tter” service in Club Class. Grading your accounts is not a matter of giving some customers better or worse service. It is a matter of giving all your customers appropriate service. When we select our major accounts and consistently deliver what we promise, we are managing our accounts professionally and effectively.
In Summary - Success Factors In Key Account Management:
• Successful Development Of The Role:
o Effective working relationship
In Summary - Success Factors In Key Account Management:
• Successful Development Of The Role:
o Effective working relationship
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
s with other members of the team.
o A continuing drive to improve account team productivity.
o Management commitment to the account team’s role with opportunities for career progression.
o Re-enforcement of the role through authorised career structures, job descriptions and core training programmes.
• The Key Skills:
o Understanding the financial and legal requirements of the account.
o Understanding of the company’s business objectives.
o Unde
o A continuing drive to improve account team productivity.
o Management commitment to the account team’s role with opportunities for career progression.
o Re-enforcement of the role through authorised career structures, job descriptions and core training programmes.
• The Key Skills:
o Understanding the financial and legal requirements of the account.
o Understanding of the company’s business objectives.
o Unde
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
standing of the company’s commercial policies.
o Build high levels of product awareness.
o Understanding of the customer’s business objectives.
o Identify the decision makers.
o Understand the customer’s purchasing strategy.
o Assess competitive activities.
o Put together an account development plan.
o Ensure effective sales order processing.
o Build the right levels of revenue and profitability.
• The Core Skills:
o Delegation
o Interperso
o Build high levels of product awareness.
o Understanding of the customer’s business objectives.
o Identify the decision makers.
o Understand the customer’s purchasing strategy.
o Assess competitive activities.
o Put together an account development plan.
o Ensure effective sales order processing.
o Build the right levels of revenue and profitability.
• The Core Skills:
o Delegation
o Interperso
t?
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
nal skills.
o Consultancy.
o Financial control & analysis.
o Project management.
o Man management.
o Initiative & creativity.
The Secondary Skills:
E.g. Industry knowledge, competitive knowledge, product knowledge etc.
Success Factors In Key Account Development:
• The Stages Of A Long Term Process
o Pre-sales.
o Contract negotiation.
o Implementation / Delivery.
o Review.
o Exploitation.
• Objectives For An Account Team
o Consultancy.
o Financial control & analysis.
o Project management.
o Man management.
o Initiative & creativity.
The Secondary Skills:
E.g. Industry knowledge, competitive knowledge, product knowledge etc.
Success Factors In Key Account Development:
• The Stages Of A Long Term Process
o Pre-sales.
o Contract negotiation.
o Implementation / Delivery.
o Review.
o Exploitation.
• Objectives For An Account Team
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
o Ensure that the customer is presented with a coherent and professional image of your Company as a business partner.
o Secure a long term business relationship with the customer as the basis for growing business.
o Penetrate the customer’s organisation and decision making unit creating new opportunities that can be exploited to accelerate account growth.
o Understand and document, on an ongoing basis, the customer organisations strategic business d
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
irection and organisation.
o Provide the company’s senior management team with feedback on the long term growth potential in the customer’s market sector and on critical success factors for exploiting it.
o Ensure that the company’s solutions are technically solid and based on a proper understanding of the current requirements and re-inforce the customer’s perception of the benefits of the company’s market focus.
o Ensure that the company’s total resource
o Provide the company’s senior management team with feedback on the long term growth potential in the customer’s market sector and on critical success factors for exploiting it.
o Ensure that the company’s solutions are technically solid and based on a proper understanding of the current requirements and re-inforce the customer’s perception of the benefits of the company’s market focus.
o Ensure that the company’s total resource
.
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
is delivered in a way that satisfies customer requirements and supports the objectives of the account plan.
Conclusion:
An effective Major Account Management strategy depends on selecting your major accounts intelligently, creating a strong, consistent, flexible way of working with both major accounts and other customers and then implementing the plan in a disciplined, effective, efficient manner.
One of the successes of the Major Account Manageme
Conclusion:
An effective Major Account Management strategy depends on selecting your major accounts intelligently, creating a strong, consistent, flexible way of working with both major accounts and other customers and then implementing the plan in a disciplined, effective, efficient manner.
One of the successes of the Major Account Manageme
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
nt programme has been the creation of common models and language that facilitate discussion and planning across units and departments. It has also stimulated a commitment for our clients to plan long term for key relationships. Major Account Management has many implications for individuals, departments and the business as a whole. It will always be demanding, but done right it will be highly rewarding
Copyright © 2006 Jonathan Farrington. All rights reserve
Copyright © 2006 Jonathan Farrington. All rights reserve
tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.usefuladvices.org.ua/article/38482/usefuladvices-In-Summary--What-Is-Major-Account-Management-All-About.html">In Summary - What Is Major Account Management All About?</a>
BB link (for phorums):
[url=http://www.usefuladvices.org.ua/article/38482/usefuladvices-In-Summary--What-Is-Major-Account-Management-All-About.html]In Summary - What Is Major Account Management All About?[/url]
Related Articles:
Small Consultancy Firms: How To Negotiate Business Deals
Company Logo Design: A Must Have Tool for Your Brand Identity
Eldercare Abuse Is Often Due To Negligent Hiring
Bookmark it:
|