Executive/Manager-PMT

verified

4 - 10 Years of Experience rupess outline icon

6.00L - 20.00L Per Annum time outline icon

Full Time

MediPharma Konnect

time outline icon Mumbai, Maharashtra, India

Posted on 12-07-2023

6 Vacancies

Description

Product management in the pharmaceutical industry serves an important role as it not only strategizes an organization’s marketing strategy of products but also implements it. Right from pre-launch and launch campaigning of products to post-launch marketing aspects are handled thoroughly Product management Team.
Every product in the pharmaceutical industry goes through typical 4 phases of the life cycle which are Introduction, growth, saturation, and decline or stable phase.
Product management team plays a vital role in all 4 phases of the product life cycle. It is responsible for the top line (gross revenue generation) along with the sales team and bottom line (EBITA which is revenue before interest, taxes, depreciation, and amortization) targets of a pharmaceutical organization.
The primary role is to manage the existing product line of the pharmaceutical organization, brand establishment and brand building and also new product launching and strategy for pipeline products and execution.
Providing training, product knowledge, direction to the field sales team to ensure that they are well equipped with scientific and communication skills both.
Product Management in the pharmaceutical industry has to work with cross-functional teams like medical affairs, learning and development team, R & D team (Research & Development) in the process.
Developing brand plans/strategies for the product range along with market penetration strategy along with market research and competitor analysis.
SWOT analysis of product line (strength, weakness, opportunities, and threats) and guiding sales team to tap the opportunities and growth in the product sale.
Creating brand inputs for promotion like VA, LBL, Newsletter, flipcharts, or digital campaigns like website or app launch or webinar series, etc.
Conducting meetings, scientific symposia, CMEs, conferences, and ensuring brand visibility in the target audience segment of the pharmaceutical industry, which are healthcare professionals and hospitals.
Motivating sales team members by organizing training camps, award ceremonies, and recognition programs.
Product forecasting, New product pipeline strategy, new product pre-launch, and launch strategy and post-launch, new initiatives for product growth strategy.
Closely works and coordinates with product, price, people and place and ensure the brand gets established in the market and organization achieves its revenue with both top-line and bottom-line targets.