MARKETING MANAGEMENT-I

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Case Study on:

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Laurs & rs e
Bridz: Implementation of a Customer
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Relationship Management Solution
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BY: BATCH-8
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ARCHIT MORE-18A3HP652
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CYRIL THOMAS-18A3HP653
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SHASHANK MATHUR-18A3HP640
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SHUBHAM JAKHMOLA-18A3HP620
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SHYAM SUNDER-18A1HP021

SIDDHARTH SEHGAL-18A1HP090

VINAY THAPLIYAL-18A2HP452

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 Discuss the importance of Customer Relationship Management(CRM) in pharma companies?
Why should companies opt for CRM?

To understand the role of CRM in pharmaceutical companies first we need to understand the role Medical
Representatives (MRs) which are the first contact between doctors and companies. A MR should have a sound
knowledge of the product and excellent selling skills. They basically represent the company and help doctors
to understand about the product, benefits of it, dosage which can be prescribed, possible side effects and
price of the drug. Basically, they provide the first-hand information about a product.

Due to reforms and increasing competition in pharma industry and focus on sales growth, companies started
cutting down interaction time for MR with the doctors and started finding new ways to maintain their sales
and relationship with their client. To tackle the problem of increased competition they developed a
technology to create more sophisticated and detailed pitches, to monitor promotional effectiveness, optimize

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campaign and improve overall sales and marketing intelligence.

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CRM mainly focuses on the following aspects:

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a. Marketing process: CRM supports the business with information on products,
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campaigns, customer profile.
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b. Sales process: its mainly for the stockist and retailers to keep a record of their inventory.
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c. Service process: CRM supports the customer with problem analysis, handling
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guarantees.
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Customer Relationship Management (CRM) is a software which is developed my individual companies to

demonstrating the innovations and processes of a company and different product line which is offered. And in
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result, CRM helps companies to attract and retain customers. The importance of CRM is to drive company’s
profitability and boost sales. It is a tool to increase their sales and find a new way to connect with the doctors.

With the CRM solutions companies could automate and integrate business processes in sales and marketing
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of their product. It helped the company to make a connect with their stockist, retailers and other health
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providers. It helped companies to track clients, help them forecast sales and maintain inventory.

Sales Force Automation (SFA) was the core part of CRM solutions and helped the MRs to make their job easier
by pitching the product through automation and create a workflow across the entire sales cycle. Main tools of
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SFA are-

1. Opportunity management which helped MR to feed customer related information in one place
and the data is available to marketing and sales team of the company. It helped MRs to mention
detailed information regarding the doctor i.e. product awareness, preferred appointment timing,
prescription habits and personal information as well.

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 2. Sales forecasting was developed for stockist and retailers to track the orders during the month
and to keep an optimum level of inventory with them and to keep their managers in loop to
know about sales impact and revenue targets being achieved or not.

a u to m a te p r o b le m The need of CRM

p it c h in g a n
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to d o c to rs d a t a b a s e fo r
re g a rd in g th e co m p a n y
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s a l e s p it c h a n d f o r e c a s ti n g

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le t M R s g e t a n d k e e p in g
m o r e e ff e c ti v e in v e n t o r y

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CHALLENGES OF IMPLEMENTING CRM:

1. Complexities: Implementing a CRM requires a significant amount of training and time. The CRM
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has to be integrated throughout all the departments of the company because from Sales team to
service team to accounting team, everyone will use and take inference out of it for making
decisions. Hence, there has to be a proper training of the employees for seamless
communication using the CRM so that the end users can effectively use the platform.
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2. Infrastructure: CRM is based on technology infrastructure with various other scalable software
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options based on companies needs. Hence the challenge is to select the right CRM solution that
caters to the requirement of the company. And to store and implement this, a very good
technical support and data servers. And if the company opts for a third party CRM solution then
the data is held with that third party and can be problematic if their servers go down. Also many
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a times it anticipated that CRM can be run by the company’s IT department which is wrong. A
specialized core CRM team has to appointed to handle the backend system.
3. Finding the right CRM provider: The success of the CRM project is directly related to the provider
the company chooses based on its requirements and budget. A provider should cater to all the

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 needs of consultation, customization, integration and maintenance. He must understand the
challenges and know how to mitigate them.
4. Cost: It may turn out to be a costly investment if done in a hurry without proper planning. A
proper analysis has to be done as to why the CRM implementation is needed. Hence, its
appropriate to discuss the total cost of ownership, IT resources, software, hardware etc with the
CRM provider.
5. Deployment type: There are 2 types On Premise and Cloud. The on premise is the one you have
to setup physically using servers and IT infrastructures that will cost more. The Cloud is the one
where data can be save directly over the internet with minimal infrastructure. The company has
to select one according to the preference and necessity.

EFFECTS OF CRM IMPLEMENTATION TO THE COMPANY

The direct effects of the CRM initiative would include automation and integration of different business

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processes in sales, tracking and mapping the preferences of the clients, boosting the productivity of the sales

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force by reducing the time spent on each call to the client. The CRM would help them network with the

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physicians and other influential stockists and pharmacies effectively where they were facing challenges due to
the ban on gifts. Apart from this, analytical tools could help in sales forecasting and opportunity management.

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The indirect effects of the CRM would be the increase in sales and revenue due to the effective and efficient
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networking of the medical representatives of the company. The analytical tools could help in prospecting and
presenting viable information which would help in collaborations with medical service providers. CRM could
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also help the company in creating a positive brand image for itself which would help in retaining a customer.
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It would help to improve the overall sales and marketing intelligence.

WHICH CRM TO OPT FOR?

As of march 2017, LAURS & BRIDZ Pharmaceuticals Private Limited had a workforce which includes 70
Medical Representatives (MR), 9 Area Sales Managers (ASM) and 2 Zonal Sales Managers(ZSM). Currently
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laurs & bridz are operating in Northern region of India and by 2020 they want to serve across India. It is also
aiming at earning a net revenue of rupees 550 million with a growth of 36.6 per cent in 2017. To attain these
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objectives, Customer Relationship Management(CRM) tool is a must for the company which will automate
and integrate different business processes in marketing and sales.
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As per our opinion, the company should opt for CRMNEXT solution edition Large Enterprise which costs
$67.2 per user/month. This solution has many benefits which are listed below:

1. LEAD CAPTURE: This feature enables the representative in knowing the potential customers
through website, e-mail, SMS etc, and then converting them into prominent customers.

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 2. ACTIVITY MANAGEMENT: It helps MRs in managing their daily routine activities like managing
clients, creating visits and daily reports, planning appointments etc. This will help managers in
getting an overview of what is been happening in the market.
3. KNOWLEDGE MANAGEMENT: This is the most important tool of this solution which will enhance
the knowledge of representatives about the product which in turn will help them in convincing
the doctors to prescribe their medicines.
4. HISTORY TRACKING & FORECASTE MANAGEMENT: It is helpful in analyzing the past records of
the company in order to forecast and decide the future prospects and decisions of the company.
Apart from the above features this solution also provides basic features like customer 360 view(advance),
contacts sharing and merging, e-mail integration and collection management.

COST TO THE COMPANY

As per the given data, currently there are 83 users of CRM solution and per user per month fee is
approximately INR 4300 (67.2*63.88), which amounts to approximately INR 43 lacs per year.

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There are additional cost which includes:

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- TRAINING & IMPLEMENTATION COST – INR 5 LACS
- PURCHASE OF TABLET DEVICES—INR 6.64 LACS

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- INTERNET DATA PACKAGES PER YEAR—INR 4.98 LACS
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The total cost to company is coming approximately INR 60 LACS which includes fixed and variable cost.
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