Unit-IV; Professional Sales Representative (PSR).pptx

Students will get the knowledge of the following:
- meaning of Pharmaceutical sales representative (PSR)
- purpose of detailing, training & supervision
- norms of customer calls
- motivating, evaluating, compensation and future aspects of PSR

1. UNIT-IV Pharma. Marketing Channels Professional Sales Representative (PSR) By: Mr. Vishal Singh, Assistant Professor-KIPS, Kanpur

2. Objective The students will get to know about the following: Duties of PSR Purpose of detailing, selection & training and supervision Norms for customer call Motivation, evaluation, compensation and future aspects of PSR

3. Definition A professional sales representative, also known as a salesperson or sales executive, is an individual employed by a company to promote and sell its products or services to customers. They are responsible for building and maintaining relationships with clients, understanding their needs, demonstrating product features and benefits, negotiating terms, and closing sales.

4. Duties of PSR Achieve sales targets by contracting with specific customers/prescribers. Inform customers about the prescription benefits of products. Create and implement a monthly call plan to fulfill the company's sales goals. Encourage clients' prescribing habits through a compelling sales presentation. Analyze consumer inquiries and translate them into sales of their preferred goods. Collaborate with prescribers regularly and provide solutions to their specific requests. Receive a definite sales call based on the company's perspective. Remain updated and bring assigned organizations that meets to the business's guidelines and activities.

5. Duties of PSR (cont…) Maintain resources and tools in accordance with business procedures and standards. Handle product samples in accordance with the company's sales policies, processes, and regional standards. Calculate and analyze sales figure changes to understand fluctuations within the area of responsibility. Manage department performance with suggestions, performance control, mobile surveys, and regular forecasts. Maintain a professional sales approach by monitoring order drifts. Maintain the marketing information systems needed by distributors and manufacturers.

6. Purpose of detailing Pharmaceutical businesses have to comply to regulatory requirements, and their products are not intended for human use, so they focus on better selection, training, supervision, motivation, and remuneration to improve sales force productivity. In today's market, customers anticipate a variety of desirable attributes from salespeople, including good product knowledge, fascinating discussions about operations in the event of a service call, and corporate reliability. These sales force skills need a company to detail, select, train, and monitor all channel members.

7. Selection of a SALESMAN Define Requirements: Clearly outline the qualifications, skills, and experience needed for the sales executive role. Recruitment Screening: Review resumes and conduct initial screenings to assess candidates' qualifications. Interviews : Conduct interviews to evaluate candidates' sales skills, communication abilities etc. Assessment: Use assessments or tests to measure candidates' sales aptitude, problem-solving skills etc. Reference Checks Final Selection

8. Training & Supervision Product Knowledge : such as the features, benefits, and usage of pharmaceutical products. Sales Techniques : Teaching sales strategies, communication skills, and negotiation tactics etc. to achieve sales targets. Regulatory Compliance: Ensuring PSRs understand industry regulations, ethical guidelines, and legal requirements related to pharmaceutical marketing. Market Insights : such as market trends, competitor analysis, and customer behavior to help PSRs adapt their sales approach. Soft Skills : Developing interpersonal skills, empathy, and professionalism with healthcare professionals. Field Coaching: To provide real-time feedback, guidance, and support. Performance Monitoring: Tracking sales performance metrics, such as call activity, prescription data, and market share, to evaluate PSRs' effectiveness. Goal Setting: Setting clear sales targets and objectives for PSRs, and assisting them in developing action plans to achieve their goals. Continuous Feedback: Providing regular feedback on PSRs' performance, identifying areas for improvement, and offering training or resources to enhance their skills. Compliance Oversight: Ensuring PSRs adhere to company policies, industry regulations, and ethical standards in their interactions with healthcare professionals.

9. Norms for Customer calls Every individual or legal organization involved in telephone marketing needs to register with the Telecom Regulatory Authority of India (TRAI) and adhere to its standards as following: As per schedule-I of "telecom commercial communication customer preference regulations, 2010", it should be assured that the promotional SMS belonging to a defined category shall contain information only related to specified class and shall not mix any other information with it. There shall be security of data downloaded from the national customer preference register portal.

10. There shall not be unwanted use of telecom resources i.e. use only for telemarketing calls and PSR shall be solely answerable. No commercial communication should be done to any subscriber belonging to national customer preference register, except for subscribed services. Proper caption of promotional transactional message should be marked and proper documentation should be maintained and should be provided on demand from officials. Norms for Customer calls (cont…)

11. Motivation to PSR Motivating PSRs is essential for driving performance, achieving sales targets, and fostering job satisfaction. Following are some strategies to motivate PSRs- Acknowledge and reward exceptional performance through incentives, bonuses, or awards. Provide opportunities for professional growth and advancement, such as training programs, mentorship, or opportunities to work on special projects. Empower PSRs to make decisions and take ownership of their work by giving them autonomy in their roles. This could involve allowing PSRs to develop their own sales strategies or giving them flexibility in managing their territories.

12. Motivation to PSR (cont…) Foster a positive and supportive work environment where PSRs feel valued, respected, and appreciated. For example: regular team meetings, open communication channels etc. Set clear, achievable goals for PSRs and provide regular feedback on their performance. This helps PSRs understand their progress and areas for improvement.

13. Evaluation & compensation to PSR Evaluating and compensating Pharmaceutical Sales Representatives (PSRs) involves assessing their performance and providing appropriate rewards and incentives. Establish clear performance metrics to evaluate PSRs' effectiveness, such as sales targets, call activity, market share, and customer satisfaction scores. Conduct regular performance reviews to assess PSRs' achievements, strengths, and areas for improvement. Provide constructive feedback and support for professional development. Implement incentive programs to reward PSRs for achieving or exceeding performance targets; including bonuses, commissions, or recognition programs.

14. Evaluation & compensation to PSR (cont…) Non-monetary rewards and incentives can be offered (such as- travel incentives, gift cards, or merchandise) to recognize and motivate PSRs. Provide competitive base salaries and benefits to attract and retain top talent. Compensation packages may also include health insurance, retirement plans, and other perks. Ensure that evaluation and compensation processes are fair, transparent, and consistent across the organization. Communicate clearly with PSRs about performance expectations, evaluation criteria, and compensation structures.

15. Future aspects to PSRs Technology Integration- e.g. using mobile apps to access real-time data Focus on Value-Based Selling: PSRs might collaborate with healthcare providers to identify opportunities Remote Engagement: e.g. via virtual detailing sessions via video conferencing Continued Professional Development: e.g. by offering online training courses, webinars, and certification programs etc. Adapting to Regulatory Changes: e.g.- PSRs might undergo regular compliance training and receive updates on changes to regulatory requirements to ensure that their sales activities remain compliant with industry standards

16. Thank You