NAMOKAR JAIN 24A1HP003 (CASE 2 ANALYSIS)
LAURS & BRIDZ: IMPLEMENTATION OF A CUSTOMER RELATIONSHIP
MANAGEMENT SOLUTION
Q1) Discuss the importance of CRM strategies in pharmaceutical
companies such as Laurs & Bridz. Why should the company opt
for a CRM solution?
Importance of CRM in Pharmaceutical Companies-
Customer Relationship Management(CRM) systems
enable businesses to start interactions and
communications based on comprehensive customer
data. This helps in building strong relation with
customer which in turn brings customer Loyalty. It
also insures that all interactions are informed and
minimized misunderstanding and enhance overall
communication.
CRM Tools offer analytics and reporting capabilities
that help businesses track performance, understand
customer behaviours which can help in effective
decision making.
CRM Systems enable tracking of sales representative
performance, providing insights into their areas of
improvement. It helps in developing sales team to
improve their productivity.
By Analyzing data on customer needs and
preferences CRM Tools helps in ensuring that
resources are allocated efficiently with promising
opportunites.
CRM Systems Can Track patient adherence to
prescribe treatments with proper care, educational
material and other programs. This kind of support
helps patients in improving their overall satisfaction.
CRM Solutions –
CRM Solutions offered tools for companies to
automate and integrate different business processes
in marketing and sales that enabled companies to
track and map preferences.
CRM Solutions enhance contact with stakeholders
such as retailers,healthcare providers in hospital
management.
CRM solutions also add predominant functionality,
allowing organizations to track clients footprints and
understand their demands. This unique style also
allows sales team to make time spent on each call
optimal which at the end helps in boosting
productivity.
One cannot neglect the fact that pharma companies
must sustain their connections with physicians and
other stakeholders, which could only be possible if
they are able to find new measures and stay relevant
in continuing current practices.
Q2) Evaluate the direct and indirect effects of CRM initiatives
on Laurs & Bridz.
Direct Effects of CRM Initiative-
CRM Solutions helps laurz and birdz to improve
associability of information provided to employees.
Salesforce automation which is core point of crm
solution helps the company to automate business
activities in sales cycle.
It also contains information on retailers sales orders
thereby it helps to examine inventory issue and and
also reveals the remaining inventory.
CRM Solutions were deployed by many companies to
increase their contact with
physicians,retailers,stockists and other health care
providers such as hospital administration.
Indirect effects of CRM-
The First indirect effect of CRM Initiative on laurz and
birdz is the acquisition of specialized software that
might increase the productivity of company’s
performance. This maybe to the degree that medical
representatives can better plan their appointment to
physicians.
After Practicing SFA As the 1st Step of CRM Strategies
they were successful in catering the company’s sales
management which eliminated irrelevant indirect
costs and inventory costs.
Q3) Which CRM Solution Should Laurs & Bridz Select and Why?
In order to successfully select and implement CRM
considering all pharma requirements, a structure
procedure is the best way of being successful in
Pharmaceutical industry. Laurs and bridz should put in
consideration strategy first,then the requirements and
then their appropriate technology. On this basis the
decision for the right system can be made along with
change management,the system then can be introduced
and operated. The Immediate decision for specific system
or taking CRM goal as a decision basis for the system will
fail in most cases because the business reality is not
completely taken into consideration and yet to be covered
by the system.
Q4) Suggest a plan for implementing the CRM solution.
Should the company implement CRM for the entire sales
force at once or should it do in a phased manner?
As per my opinion, the company Laurs & Bridz should
apply CRM in a phased manner and not at once because
applying it in phases, may indicate the issues at the very
initial stage and it would be easy for the company to deal
with it in a very efficient manner.
No CRM Project and No CRM system implementatition will
ever be successful without defining before hand what do u
want to achieve? And, how do u intent to achieve?
Because without knowing where you want to go you
cannot measure if u achieved your goal which can also
incur long term losses.
As we talk about the CRM solution i.e. SFA, we can apply it in the
company internally like collecting the whole customer base in a
single location/database and see it’s impacts and then apply it
externally at the MRs and ZBRs.
Q5) What possible challenges will the company face in
implementing a CRM solution? How can it mitigate these
potential challenges?
Challenges faced by implementing CRM
As CRM is new technology, Initial training should be given
to every level of employee in the company (Medical
Representatives, Area Sales Managers, Zonal Managers)
A dedicated team must be allocated for controlling CRM,
maintaining records and updating customers data. The
data flow between systems must be maintained properly
throughout every level of employee.
A special team must be working for addressing customer
queries.
Collecting customer related information carefully without
obligating laws.
Mitigating potential challenges
CRM solutions provides tools which automate MR's and
SM's workflow across the entire cycle.
Using CRM solutions company can eliminate inventory
issues and control according to the customer's demand.
By using CRM, Sales force can optimize the time spent on
each call and increase overall productivity.
CRM enables the company to track its client' and set map
preferences geographically.
