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Emerging U.S. EDetailing Markets for Life SciencesPublished by: Frost & Sullivan Published: Jul. 13, 2005 Table of Contents1. Market and Industry Dynamics 1. Market Introduction 1. Market Introduction 2. Market and Industry Dynamics 1. Market Drivers a. Targeted versus Umbrella Model Improves Return Measures b. Mechanism Increases Reach and Frequency to Physicians c. Successful Pilots and Programs Drive Broad Adoption d. New Blockbusters, Products of Specificity, and Patent Expirations Call for Modification of Traditional Marketing Mix e. Low Revenue, Underserved, and Generic Product Markets Boost Activities 2. Market Restraints a. Silo Effect Decreases Integration with Marketing Mix b. Regulatory Process of Life Science Companies and External Environment Limits Expansion c. Product Team Members and Marketing Department Slow to Implement Technology d. Mega Study for Total Measure of Return on Investment 3. Challenges and Growth Strategies a. Addressing Distinct Factors of Saturation and Fatigue b. Harnessing Appropriate Wave Strategy to Change Behavioral Prescribing Pattern of Physicians c. Design Segmentation Practices d. Patient Detailing as the Last Frontier: Completing the Value Chain e. Apply Industry Best Practices f. Former Product and Brand Managers or Executive Marketing Experience from Pharmaceutical Firms g. Project Management: Total Account Management of the Program h. Medical Writers and Physicians on Staff i. Turnkey Operation 4. Market Trends 5. Market Engineering Measurements 6. Summary 2. Competitive Market Dynamics 1. Market Dynamics 1. Market Forecast 2. Market Profile and Competitive Dynamics 3. Pricing Dynamics 4. Product Analysis 5. Market Model Dynamics 2. Financial Profile 1. Financial Profile 3. Strategic Guidelines for Implementation 1. Guidelines 1. Introduction 2. EDetail as a Feedback and Awareness Mechanism 3. Resolving Saturation and Fatigue 4. Vertical Integration Inside the Marketing Mix 5. Effective Programs for Product Life-cycle Management 6. Use of Specific Concepts to Create Superior EDetail Program 7. Coverage Strategy 8. Selecting a Vendor 4. Frost & Sullivan Awards 1. Frost & Sullivan Awards 1. 2005 Product Innovation Award 2. 2005 Business Development Strategy Leadership Award 3. 2005 Competitive Strategy Leadership Award 5. Decision Support Database Tables 1. Decision Support Database Tables 1. Number of Practicing Physicians - Global 2. Number of General Practitioners - Global 3. Number of Specialized Medical Practitioners - Global 4. Number of Internet Users - Global 5. Percent of Business Internet Penetration - Global AbstractChannel Growth Leads to Expansion of eDetailing Markets for the Life Sciences Industry eDetail companies have focused on garnering new business through pilot programs and customer retention initiatives, prompting life science companies to test eDetail solutions. These trials emerged hugely successful and as a result, life sciences companies continue to use eDetail technology. Successful pilots and long-term campaigns are driving large-scale adoption of eDetail technology as a major component in the marketing mix. This Frost & Sullivan research service looks at the emerging U.S. eDetailing markets and the associated segments - customer, physician, and competing business models. The study discusses the prevailing industry challenges and provides strategic recommendations to overcome them. It also provides information on the growth trends, competitive structure, and market opportunities. eDetail as Major Marketing Strategy is Driving Market Dynamics The life sciences industry is convinced that eDetail is a highly effective method for promoting brands and increasing reach among physicians with greater frequency. "Increased contacts with physicians, controlled promotional material, and immediate feedback and reporting analysis help position eDetail ahead of other possible marketing strategies," says the analyst of this research service. "eDetail actively engages physicians with a promotional message and can significantly augment the efforts of sales representatives." A typical eDetail program reaches 2,500 physicians, while life science companies and eDetailers are beginning to scale campaigns to 10,000 to 20,000 physicians. To achieve this target, they have to use next-generation eDetail technologies and mechanisms that assist in polishing the marketing messages with their broad and robust solutions. eDetail companies transitioning from slide-deck style programs to next-generation, in-depth eDetail interactive programs and marketing services are likely to see significant growth. Inflection Point Pivotal to the Future of Life Sciences Industry The inflection point refers to the massive adoption of eDetail solutions by drug companies. While various factors such as internal restructuring of the sales force of life science companies and extensive implementation of their eMarketing strategies necessitate greater use of the eDetail platform, several factors restrain its large-scale adoption. "Nevertheless, companies with superior products and customer service are expected to experience remarkable growth, as several of these companies increase their use of eDetailing or switch to lengthier subscription-based pricing models," notes the analyst. eDetail providers must devise value-added services and strategies while developing marketing campaigns and harnessing beneficial eDetail concepts and practices. EDetailing can provide considerable return on investment (ROI), which, now more than ever, is encouraging many product and brand managers to implement eDetail programs. Get Full Details About This Report >> |
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