LuciaRailean_Optimising Promotional Spend_Adam Smith

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Optimising Promotional Spend in the Times of Budgetary Pressures

Lucia RAILEAN

Vice-President Russia and CIS, IMS Health

May 20, 2015

Adam Smith Conference, St. Petersburg

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Optimize (v.) – 1844, "to act as an optimist," back-formation from optimist. Meaning "to make the most of" is first recorded 1857.

Optimization?

Optimization implies modifying the system to raise efficiency in achieving a goal.

Wikipedia, Etymology Dictionary

Innovate (v.) – 1540, to renew, to "make changes in something established".

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Budget – leather bag, wallet, pouch

Budget Spend?

Spend – to pay away

Wikipedia, Etymology Dictionary

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∑ ∫Mathematics

Insights Technologies ServicesIncreased data (BIG DATA) SMART Technologies NEW Expertise

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Budgetary spend (system) as it is

Face-to-Face

Conference

E-Detailing

Mailing

Print Advertising

Social Media

As a result

Channels

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•Patient adherence: Pharmaceutical companies lose up to

25%* revenue because of low patient adherence.

•Patient power: Having economic power, patient stands with

leading role in treatment. Focus to the disease treatment shifts to health management.

•Competition from outside the industry: Invasion to

the market of non-traditional players (medtech, e- and m-health, non-pharmacy retailers, IT, telecom, foods, consumer products, etc.).

Why optimizing, i.e. modifying the system?

* - World Health Organization

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Redefined system

Self-control

Patient schools

Home service

Diagnostics

Reimbursement

Ambulatory care

Support 24/7

Healthy lifestyle

Self-realization

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From product to health outcomes

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A Particular Person as a Key Client

Doctor as a Partner (not a Client)

Personalized Communication vs Promotion

Integrated Sales and Marketing

Management of Integrated system

New Expertise / New Paradigms:

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Management of Integrated system

Information

Technology Expertise

Integrated Innovative Personalized

SOLUTION

Actionable data and Insights for decision making and defining Sales and Marketing strategy

Technologies and Solutions for systemic and integrated approach of Sales and Marketing strategy orchestration

Implementation and management of Sales and

Marketing strategy

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Let’s act as Optimists!