Purpose of Position:
- Analyzing and Evaluation of Market to Identify Opportunities in the Form of Potential Therapeutic Segments and Potential Candidates (Products)
- Selection of Product Line to suit the Chosen segment and Developing Ideal Product Mix
- Managing the Lifecycle of Existing Brand with Exploration of New Rx Opportunities in Therapeutic Segments/Specialities, Line Extensions, or Dosage/Formulation Modifications
- Launching New Products to Support and Strengthen the Product Portfolio, Line Extensions with the Objective of Increase Market share While Taking Top-line and Bottom-line into Accounts
Role & Responsibilities of Product Manager:
1. Developing/Creating Promotional Strategies
- Developing Promotional Theme.
- Brand Positioning in Therapeutic Segment/Indications/Usages
- Diagnosing Unmet needs in existing molecules that are available in the market
- Developing/Devising Communication Theme(s)
- Designing Literature/Communications in accordance with
- Brand Name
- Therapeutic Segment
- Promotional Theme Decided
- Category of Customer/Prescribers/Market Targeted
2. Data Sourcing and Analysis with the Objective of Utilizing in Formulating Strategies
- Knowledge of Source of Data e.g. Internal Data from Distribution of Sales Team, Therapeutics/Category data from ORG IMS
- The capability of Analysing Available data for Utilization in Strategy Formulations
- Developing Facts (Derived from Data Analysis) Based Strategy
3. Interdepartmental Coordination:
- Sales Team for the execution of strategies and Feedback
- Market research for retail and Rx data.
- Liaison with production & supply chain department to ensure availability of stocks as per Product Marketing and Projection Plans
- In-Licencing and Outsourcing team for Line extensions, Various approvals like Packing designs, Dosage forms, etc.
- Training of Salesforce for implementation of promotional strategy, and USPs with The Help of the Training Department
- Medical Department for Scientific data/Information, Approval of Communication to position brand. Medical Ethics.
- Finance for all Budgetary allocations
- Sourcing/Purchase Team for All Promo Inputs and Plans
- Supply Chain for Timely Production, Distribution, and Delivery of Product
4. Long-Term and Short-Term Strategies for Product
- Designing a Short-term Strategy to Make Product Immediately Visible in the Market
- The long-term strategy covers aspects that help to sustain the brand Longer in the Market
5. Developing Brand Image/KOLs
- Planning Various Promotional Events like CME/Seminars/Scientific Events/Seminars/Symposiums to Build Products on scientific Terms and Knowledge
- Focus on Developing KOLs and Brand Ambassadors
- Channelizing these activities effectively through Leaders of the Sales team
6. Designing Promotional Tools
- Designing of VAF to Communicate Effectively with Customers
- Scientific Literature – To Build Products on Scientific and Clinical Benefits
- References to Support any such Benefits claimed in Literature
- Product Reminder Tools (Gifts/Campaigns/Reminders)
- Campaigns with Focus on Increasing Usage/Users and Widening Rx Base
- Campaigns to Generate Loyal Customers and KOLs
7. Training to Field force and Leaders
- Understanding Product Better
- Using Communication Effectively
- Utilizing Promo Inputs
- Awards/Rewards Recognitions/Incentives for Field force
“Product Manager Conceives,
Field Force Delivers the Idea”
8. Budget:
- Cost and profit management through effective and efficient management of operational activities.
- Careful allocation of financial resources to achieve maximum output from the investment
- Ensure each Input is Designed and Chosen carefully so as to be within the allocated Budget and generates desired output
Desired Skills and Competencies
- Understanding of the technology and capabilities of the Division’s products
- Capable of understanding market and customer dynamics;
- Well Versed with sales processes
- Regulatory Knowledge and Regulatory standards affecting medical devices/diagnostics.
- Capable of developing, rationalizing, and presenting strategy;
- Managerial Skills to Manage Resources like Time, People & Budget
- Capable of Handling Individually, In Groups, and Cross Functionally.
- Strong Analytical Thinking, Problem Solving Skills, and Critical Thinking abilities, Capable of Taking Decisions when competing Demands
- Clear and Accurate Communications Ability – Written/Verbal Presentations can Simplify complex and Explain to others
- Ability and aptitude to use various types of databases and other computer software
- Ability to form and develop interpersonal, and professional relationships; display socially and professionally appropriate behavior
- Fact-based decision-maker: Capable of analyzing multiple data sources and digging deep to understand
- Able to juggle multiple priorities, always keeping the highest-impact items as top priorities
- Challenges the status quo and acts as a change agent – helps people remove barriers
- Proactively solves problems or challenges creatively
- Results-driven, bring solutions to the market with quality
- Identifies and anticipates risks and creates contingency plans
- Elevates issues, decisions, and deliverables that might derail timelines quickly for resolution
- Strong communication skills – can simplify complex and explain to others
- Manages & gains alignment with a range of stakeholders
Challenges of Position:
- Execution Levels of Strategy – Its Evaluation/ Intervention for Improvement, Driving Leaders
- Evaluation of Execution v/s Impact on Product Performance.
- Budget/Financial Allocations – Developing Strategies and Promotional Inputs within the allocated Budget (Being Extra Innovative).
- The Job Involves Extensive Travel, Outstation Stays, and Regular analysis and Driving Correct inference on Various Parameters.
- Being Responsible for Errors of decisions and Recommendations which could jeopardize substantially the Performance/Budget Allocation.
Qualification:
- Preferably Science Graduates B.Pharma/B.Sc with Management Degree MBA/PGDM
- MBA in Pharmaceutical Management
- 2-5 Years of Field Experience (Pharma Sales) with Desired Skills & Competencies. First Line Experience is Added Advantage.
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