Managed Markets Account Management: Assessing the Performance of Account Executives : Market Research Report

Managed Markets Account Management: Assessing the Performance of Account Executives

Published: Oct. 1, 2009 - 52 Pages

Table of Contents: Project Overview; Project Methodology and Study Objectives; Participating Companies; Survey Respondents’ Industry Experience; Therapeutic Experience
Key Insights: Structure and Organizational Alignment; Performance Measurement; Profitability Versus Sales
Detailed Study Findings: Organizational Alignment; Total Number Account Executives Employed; Structure of Function; Reporting Relationships; Alignment of Management; Alignment of Responsibilities within Geographies; Number of Accounts Managed; Organizational Changes; Anticipated Organizational Changes; Managed Markets Strategy Group; Strategy Group Size; Structure of Strategy Function; Strategy Function Reporting Relationships; Customer Marketing Group; Customer Marketing Group Size; Customer Marketing Function Structure; Customer Marketing Heads Reporting Relationships; Account Executive Time Allocation Summary; Account Executive Time Allocation Detail; Results Metrics; Activities Metrics; Other Specified Metrics; Expected Number of Contacts per Executive; Optimal Measures for Assessing Value; Other Notable Measure for Measuring Performance; Communicating Value within the Company; Reward-Performance Correlation; Challenges and Pitfalls
Appendix: Achieving Profitable Access; Balancing Sales and Profits; Getting an Optimal Solution; Aligning Goals and Strategy
About Best Practices, LLC

Abstract

STUDY OVERVIEW

Today's market driven environment has made performance assessment of managed market account executives complex and critical. Best Practices, LLC has conducted this in-depth study to: identify common performance measurement practices across geographies and hierarchy, provide insight into effective evaluation of the function and determine measures that drive functional success.

Industries Profiled:

Pharmaceutical; Health Care; Biotech; Manufacturing; Consumer Products; Media

Companies Profiled:

Abbott Laboratories; Apria Healthcare; Abraxis; Laboratorios Deramtologicos Darier; Schering-Plough; Q-Med Scandinavia; Bausch & Lomb; Sciele Pharma; Allergan; Celgene; Wyeth Pharmaceuticals; EMD Serono; AstraZeneca; Honeywell; Bayer Schering AG; IDS; Boehringer Ingelheim; King Pharmaceuticals; Eli Lilly and Company; Lundbeck; Genentech; Skila; Johnson & Johnson; Smith & Nephew; Merck; Ther-Rx; Novo Nordisk; Valeant; Pfizer; Roche; Sanofi-Aventis

PROJECT METHODOLOGY AND STUDY OBJECTIVES

Research was conducted through survey and interviews of thirty-two participants, sixteen of whom were large research-based Pharmaceutical companies of the world.

Key study objectives include:

1. Identifying common practices in measuring Managed Markets account executive performance.
2. Gaining insight into the principles of effective measurement of this function.
3. Determining what specific measures are used to drive successful activity in Managed Markets account management.

KEY FINDINGS 1. Structure and Organizational Alignment- Maintaining separate groups with responsibility for Managed Market strategy and/or marketing often brings to bear the perspectives of the brands and therapeutic areas. However, co-ordination and co-operation between them is hard.
2. Performance Measurement- The variety of metrics used for performance assessment and variability of its effectiveness often reflects in the difficulty of the task.
3. Metrics: Profitability vs. Sales- Executives split over the decision whether to evaluate on the basis of sales or profitability, although favoring profitability simplifies measurement.

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Managed Markets Account Management: Assessing the Performance of Account Executives

Table of Contents

Abstract