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An innovative approach for optimizing sample allocation across customers that helps increase brand prescriptions and enables Sales teams to collaborate effectively.
Product samples continue to be a significant component of the overall Pharmaceutical marketing mix. Although their application is fraught with risk, few product managers are willing to do without them. Traditionally, product managers have faced the following challenges when trying to optimize sample allocation:
- The impact of samples always "turns negative" at high levels of sampling due to cannibalization of prescriptions.
- Samples may have a negative impact as some customers may use samples only for a patient assistance program.
- Samples are frequently correlated with detailing, making it difficult to statistically separate their effects.
- The impact of samples may "turn negative" at low levels of sampling as customers may start prescribing competitor drugs.
- Samples dropped may be recorded only against a single ID (who signs for the samples, say in a group practice), but may be shared among several customers.
marketRx has been at the forefront of solving this problem from its roots, having strong expertise in market research, sales planning and branding. We understand the nuances of different types of data (primary, prescription and patient) and their applications. We know the impact that a shortage or excess of samples can have on your brand sales. We can help you identify the right amount of samples to be left with the right customer.
marketRx Approach
marketRx solves one of the toughest problems in the Sales and Marketing domain i.e. 'optimizing sample allocation' using a proven approach that includes the following key elements:- Using Inventory Theory to find the economic optimum.
- Leveraging patient level data along with other data sources.
- Carrying out market research to determine customer sampling habits.
marketRx follows a structured methodology based on the following process flow:
Our Solution Helps You to Answer the Following Business Problems:
- What is the optimum number of samples to targeted customers?
- What should be my brand's sample budget and strategy?
- How do I incorporate customer sampling habit in the optimal sample plan?
- How is the brand's performance affected with varying levels of sample allocation?
- What's the effect of over-sampling on cost and cannibalization of the brand?
- What's the effect of under-sampling on customer's expectations and habits?
Key Benefits
marketRx is a leading provider of complete Sales and Marketing Effectiveness Solutions to global Pharmaceutical and Life Sciences companies, and utilizes its strengths in analytics, research and technology, to deliver actionable and measurable results. We have deep domain expertise and broad experience in:- Leveraging all types of Pharmaceutical industry data
- Solving Sales and Marketing Effectiveness problems
- Conducting a wide variety of market research studies
- Developing sophisticated analytical models
iOptima Samples Advantages
- iOptima Samples delivers accurate, highly optimized sample plans that overcomes problems in traditional solutions
- iOptima Samples provides accurate, optimized sample plans at a low cost
- marketRx utilizes a product-enabled approach to provide highly efficient execution of sample optimization services
- The report library has a number of reports to facilitate service delivery, including:
- Customer and segment level sample planning reports
- Sensitivity reports of profit with sample budget
 Click here to view the Optimizing Sample Allocation Flash
Presentation
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