Business, Economics & Law
CRM in Pharmaceutical and Healthcare Marketing
by Shailendra Tripathy
The word CRM had gained a different connotation in the industry. The book was written by Shailendra Tripathi, a rich industry experienced sales & marketing professional and a management teacher explains the real meaning and relevance of CRM in pharmaceutical and healthcare business driving the importance of customer-centricity over product centricity and thereby creating a long term partnership over transactional relationship.The book captures the history of global pharmaceutical business and how Indian Pharmaceutical and Health Care evolved from the era of Charak and Sushruta to the modern era, Indian healthcare system, and emerging trends, the evolution of CRM from pre-World War era to Modern era.The book addresses the challenge of customer defection and switching to competitors’ brands. It talks about various strategic tools for identifying right customers for CRM, Retain and Enhance the profitable business from them.The economics of CRM has been simplified for better understanding and terms like Net Present Value of future profit from customer and its relevance, decision to customer targeting and selection based on Choice Matrix, running loyalty program for a different set of customers based on Loyalty Matrix. The concept of Activity Based Costing is simplified and explained how it can be applied in marketing for a better return.How to create a superior customer experience, especially in an industry where execution has been a black spot. Therefore measurement of marketing effectiveness has been subjective. The book has captured various CRM tools and features of Sales Automation and Marketing Automation systems. You can learn about creating quality content and superior customer experience, increasing the overall marketing effectiveness that is the need of the hour.
