Sales and Marketing Strategies and Personnel: A General Approach combined with a TMT-Specific Approach

·         Sales & Marketing: The objective of any company is to market and sell its products or services profitably. Sales and Marketing are different.

o        Marketing represents the process of listening to customer needs, assessing the competitive landscape and then designing and creating products and services accompanied by messages appropriate to potential customers. The primary objective of marketing is to deliver products and services to the right audience at the right price and right time.

o        A Sales force uses the approaches developed by Marketing to generate income derived from selling goods and services.

·         Marketing Approaches:

o        Advertise:  Subject matter and presentation disseminated to communication media such as radio, television, newspapers, magazines, and the Internet.

o        Purchase Incentives: Such as discounts, samples, gifts, rebates, coupons, sweepstakes, and contests.

o       Facilitate public and industry association presentations by top executives.

o       Identify current and emerging markets.  Monitor trends suggesting need for new products or services or geographical expansion of markets.

o       Sponsor industry events, arrange promotional parties, and generally gain favorable public attention for the company. Ensure that marketing is performed so as to enhance the company’s image and long-term interests.

·        Sales Approaches:

o       Assign sales territories.

o       Set sales goals.

o       Establish sales representative training programs.

o       Maintain contact with existing and future customers.

o       Analyze sales data for sales potential and product/support requirements.

o       Monitor customer preferences.

·        Attributes of Effective Sales and Marketing Personnel:

o       Maturity.

o       Creativity.

o       Motivation, ambition and drive.

o       Flexibility.

o       Stress tolerance.

o       Decisiveness.

o       Effective oral and written persuasion skills.

o       Tact and good people judgment.

o       Ability to establish and maintain effective personal relationships.

·        Special Qualities Required of TMT Sales and Marketing Personnel:

o       Integrity: It is OK for the TMT person to emphasize the strengths of the TMT product portfolio. It is not OK to misrepresent any TMT product or to promise what can not be delivered. Pushing too hard for a short-term sale may antagonize the very opinion leaders whose support is essential to the long-term viability of a TMT product.

o       General knowledge of the health care system (especially clinical trials), computer hardware, computer software, and Internet-based information systems.

o       Detailed technical and usability knowledge of individual TMT products.

o       Knowledge of the way that individual TMT products can be linked together to provide more complete technical solutions.

o       Knowledge of the needs of the practicing or research physician and the ability to customize a solution for an individual doctor.

o       Knowledge of competitive products and the willingness to recommend such products if they appear more suitable for a potential customer than a TMT product. Loss of an immediate sale can be offset by fostering good will that results in future sales and a mutually satisfying long-term customer relationship.

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