Product Manager

Purpose of Position:

  • Analyzing and Evaluation of Market to Identify Opportunities in the Form of Potential Therapeutic Segment and Potential Candidates (Products)
  • Selection of Product Line to suit the Chosen segment and Developing Ideal Product Mix
  • Managing 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 Objective to Increase Market share While Taking Top-line and Bottom-line into Accounts

Role & Responsibilities:

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 Objective to Utilize 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, USPs with The Help of 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
  • Long term strategy covers aspects which help to sustain the brand Longer in the Market

5. Developing Brand Image/KOL’s

  • Planning Various Promotional Events like CME/Seminars/Scientific Events/Seminars/Symposiums to Build Product on scientific Terms and Knowledge
  • Focus on Developing KOL’s 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 Product on Scientific and Clinical Benefits
  • References to Support any such Benefits claimed in Literatures
  • Product Reminder Tools (Gifts/Campaigns/Reminders)
  • Campaigns with Focus on Increasing Usage/Users and Widening Rx Base
  • Campaigns to Generate Loyal Customers and KOL’s

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 in allocated Budget and generates desired output

Desired Skills and Competencies

  • Understanding of the technology and capabilities of the Division’s products
  • Capable of the 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 Skill to Manage Resources like Time, Peoples & Budget
  • Capable of Handling Individually, In Groups, and Cross Functionally.
  • Strong on Analytical Thinking, Problem Solving Skills and Critical Thinking abilities, Capable of Taking Decisions when competing Demands
  • Clear and Accurate Communications Ability – Written/Verbal or 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, professional relationships; display socially and professionally appropriate behavior
  • Fact-based decision-maker: Capable of analyzing multiple data sources and dig 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 deliverable that might derail timelines quickly for resolution
  • Strong communication skills – can simplify the 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 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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