LAURS & BRIDZ: IMPLEMENTATION OF A CUSTOMER

RELATIONSHIP MANAGEMENT SOLUTION

Laurs & Bridz is a pharmaceutical company which provide combination of medical products & drugs
to the medical community and export’s pharmaceutical products all around the world.
The company was established by Manoj Chaudhary(director), in 2011 with initial capital
investment of ₹10 million and with 7 employees.
YEAR 2016 2017 2020
NET REVENUE 402.70 550 1500(target)
% INCREASE 30.76 36.6% -

YEAR 2018 2019 2020

TARGET ZONE WESTERN ZONE SOUTHERN ZONE EASTERN ZONE

PRODUCTS PRODUCT LINE

 TABLETS  ANALGESICS
 INJECTIONS  ANTIBIOTICS
 DRUGS  HEMATINICS
 NUTRITIONAL SUPPLIMENTS
 GASTROPROTECTIVE PRODUCTS
 MEDICATIONS
The products were certified high quality according to international regulatory standards.
Its focused product portfolio and good distribution network had provided strategic advantages
in to selling these high-quality products at competitive prices in an increasingly competitive
market.

EMPLOYERS CHAIN-
The network of employees consists of eight carrying-and-forwarding agents and around 150
stockists distributed its products to pharmacy retailers.
There is a sales force under the control of Manoj Chaudhary. these sales compromises 70
marketing representatives headed by 9 Area sales managers, who were under the control of 2
zonal sales managers.
As of September 2017, the customer base increase to 15,000 physicians, pharmacy retailers,
and stockists.

Role of Medical Representatives

 MRs required sound product knowledge and missionary selling skills for monitoring
their competitors’ activities which differed from regular selling
 MRs were also referred to as “detailing salespersons.” acting as intermediaries for
discussing the features and benefits of product’s indications, dosages, side effects, and
prices
 MRs were responsible for increasing the number of prescriptions & sale’s revenue and
profits.
 MRs were also analyzed sales statistics and reports such as the daily call reports,
stock and sales reports, expense reports, travel plans, and monthly reports
THE INDIAN PHARMACEUTICAL INDUSTRY-
 Branded generics constituted nearly 80 per cent of the Indian pharmaceutical market share in
terms of revenues. Unlike multinational pharmaceutical companies, Indian pharmaceutical
companies capitalized on the low price & popularity of their products.

COMPOUND ANNUAL GROWTH RATE EQUITY MASTER REPORT,

MARCH2017

YEAR CAGR SALES(billions) YEAR RANK IN RANK IN

VOLUME VALUE
2005 - 6
2005 3RD 13TH
2016 17.5% 36.7
2016 - 6TH
2020 16% 55 predicted
predicted
SALES CHALLENGES
 As government imposed drug price control order, the profitability of Laurs & Bridz
had reduced faced an increasingly difficult selling environment for its products.
 Many MRs could not meet their sales targets with their lack of insight into the
organization.
 The continued focus on sales force growth had resulted in aggressive product
promotions to physicians.
 As companies shortened the time MRs spent with physicians, the company used new
technological devices to promote “top-of-mind recall,” and to generate more
prescriptions.
 The company is critical in Relationship selling with pharmacy retailers and stockists to
ensure better availability of the products.

Sales force automation (SFA)-

 provides MRs and sales managers with tools to automate their workflow across the
entire sales cycle.
 SFA tools could be used for opportunity analysis, prospecting, presentations, and
collaboration, pipeline management and sales forecasting.
 It provides templates from the CRM application to make product presentations.
The two essential components of SFA

OPPORTUNITY MANAGEMENT SALES FORECASTING TOOLS

 it features to enter all customer-related
information in a single location on the
SFA contact database which is
available to the company’s marketing
and sales teams.
 it gives sales managers insights into the
sales pipeline and helped to eliminate
inventory issues.
  It is also used to record information  to strengthen their sales and marketing
about a physician’s product awareness, efforts
use of competitors’ products,
prescription habits, preferred
appointment times.

CRM IN IN THE PHARMACEUTICAL INDUSTRY-

1. It plays significant role in the introduction of new products and generating more
revenue from their major physicians
2. It helps in understanding the purchasing patterns, stock cycles, and supply lines of the
pharmacies and stockists in order to forecast demand accurately.
3. it helps companies to increase the efficiency and effectiveness of their sales
representatives
4. it helps MRs to know the influential stockists and pharmacies in their territories
and build good relationships to ensure an adequacy of inventory of their products
in the market
CRM SOLUTIONS IN THE PHARMACEUTICAL INDUSTRY -
1. it offered tools for companies to automate and integrate different business
processes in marketing and sales.
2. Many pharmaceutical companies deployed CRM solutions to increase their contact
with physicians, retailers, stock lists, and other healthcare providers such as
nursing staff and hospital administrators.
3. It added significant functionality that enabled companies to track clients and map
preferences. Further, this functionality allowed the sales force to optimize the time
spent on each call, boosting productivity.

Opting VEEVA CRM solutions-

Laurs & Bridz needed to deploy a CRM solution
 To attune the company’s sales processes and to strengthen its sales and marketing.
 to better track customers, to build and strengthen customer relationships efficiently,
 enhance the productivity of its sales force.
since the day of its operations, the company used traditional information systems by
maintaining customer-related data in Microsoft Excel files. with the increase in number of
customers, it is difficult to maintain such large amounts of client information. Manoj
planned to invest ₹50 million in customer relationship management (CRM) solutions.
The following are the reasons for opting VEEVA CRM solutions-
 customizable-the products and services provided by VEEVA CRM is based on the
size of the project and the features can be customizable based on the size.
 up-to-date alignment- VEEVA CRM provides sales pipeline management and
automation which helps the company to track the sales in real time.
 opted by pharma companies-- Major companies like Abbott, AstraZeneca,
Astellas Pharma Inc., Bayer AG, BD, Boehringer Ingelheim GmbH had adopted
CRM products from Veeva Systems Inc.
 mobile CRM- It is one of the major consideration for Laurz & Bridz .the CRM
solution helps the customers to access its database effectively.
 pre-validation- the company helps in pre-validating and predicting the
implementation of any strategy and future decisions by providing the insights from
the data available.
DIRECT AND INDIRECT EFFECTS OF IMPLEMENTING VEEVA CRM-

Direct
 INCREASE SALES, REVENUE AND PROFITABILITY
 COST CUTTER FOR DIRECT EXPENSES
 INCREASE IN CUSTOMER BASE
 IMPROVE CUSTOMER SERVICES
 AUTOMATION OF BUSINESS ACTIVITIES
 BETTER CUSTOMER RELATIONSHIP
Indirect
 IMPROVED ANALYTICS AND REPORTINGS.
 CUSTOMER RETENTION.
 WORD OF MOUTH.

RELATIONSHIP MARKETING STRATEGY APPROACH-

This form of marketing is significantly focused upon customer building, Enhancing
existing relationship with customers and improving customer loyalty.
The following is the process of implementing CRM approach.

 Review the crm solution in the market.

 Selection of best crm solution available.
 Making contract with the vendor and getting software licensing.
 Customization of the crm solution in accordance to the company need.
 Uploading the existing data of the company.
 Proper training of the employees and support systems.
 Maintaining the data base that is reliable to the companies requirement.

Obstacles in implementing CRM-

The marketing manager manu had already negotiated with mobile tablets provided for
₹8,000 per tablet and on a research, 30-60% of CRM projects failed due to lack of
training.

 finding an appropriate CRM solution – the company end up with loss opting the
CRM solution if it didn’t match the companies objectives to fulfill it needs.
 Lack of knowledge on CRM software-the users of the CRM solutions should be
trained effectively toward using CRM software tools
 Lack of proper managing & updation - The CRM serviceprovider need to update
the software according to the requirement of the company.