Today’s increasingly digital society is causing an evolution in pharma marketing strategies. Numerous digital channels have sprung up due to technological advancements, and they are changing doctors’ and patients’ habits. Digital platforms such as emails, digital ads, and paid search are available for pharma companies to target doctors based on their preferences.1 These channels are not deployed to substitute traditional channels, but as part of a synergistic multi-channel marketing strategy, to complement them.2
With more than two decades of association with the Pharmaceutical Management Science Association (PMSA), Axtria is pleased to partner once again with PMSA – this time on their Virtual University initiative. As part of this initiative, Axtria recently delivered the first of a five part Webinar series on the topic of Promotion Response Modeling (PRM). This engaging one hour session conducted by industry experts David Wood (PhD, Principal Axtria) and Rajnish Kumar (Senior manager, Axtria) focused on elaborating the basic concepts of PRM, its building blocks and key benefits to help attendees understand the impact of promotional activity on customer behavior (e.g. physician prescribing).
This session was attended by over 100 sales and marketing professionals. The presentation was rated high on its insightfulness & applicability as well as the speaker’s ability to engage the audience. The excitement during the session was clearly palpable, …quoting one of the respondents, “Dave's enjoyment and knowledge of PRM's was clear”.
Several interesting questions pertaining to modelling nuances such as lead and lag indicator analysis, ‘diminishing return’ in DTC channels, accounting for promotion across multiple channels, HCO affinity modelling, etc were raised and discussed.
In case you missed the webinar, you can listen to the recording here.
In case you have any questions please feel free to reach out to firstname.lastname@example.org