Medical device companies are facing many economic and regulatory challenges, and in response, are implementing new selling models and strategies such as value-based selling, team selling, key account management (KAM), multichannel marketing, customer relationship management (CRM) and pricing optimization. But they're not always finding success.
If the impact of these new models on sales or profit growth is less than expected, sales management and training departments are often blamed. However, in our experience, there is often another, more fundamental source for failure or limited success: poor master data management (MDM).
This paper will show how MDM allows medical device companies to view their customers with greater insight, provides accurate measures of market potential, and supports better pricing and contract management for existing customers.
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