- October 23, 2024
Modelling analytics framework for market share and productivity analysis for LG Life Sciences
About the Client:
LG Life Sciences has developed and commercialized an array of pharmaceuticals over the years. From Interferon in 1989 (Intermax-gamma) and 1992 (Intermax-alpha), to Hepatitis B vaccine in 1992(EUVAX B™), and recently next-generation quinolone antibiotic (FACTIVE®) was approved by the FDA in the United States.
To this end, LGLS is expanding its strategic alliances and fostering its capabilities to identify candidate drugs for development. Indeed, the company’s development of new medicines is accelerating and marketing competencies are being focused on advanced markets.
IndustryPharmaceutical
The Project Challenges:
The company was looking a expand in to very competitive South Asia markets. Being a late entrant in the markets
LGLSI was looking to leverage information as a competitive advantage to penetrate existing loyalties, Challenge was
that reliable third-party information sources are not as mature as in some developed markets.
Primary focus was to penetrate rural pharmacy OTC and non-doctor prescription markets.
Visvero’s Solutions Approach:
Visvero modelled the analytics framework for market share analysis and productivity analysis at the sales person,
geography, pharmacy and doctor level. We created dashboards for daily analysis of field sales data and “white
space” opportunities that had a high demand potential.
Developed sales person incentives application that rolled out various novel schemes for sales person engagement.
Overall Performance & Results:
Visvero modelled the analytics framework for market share analysis and productivity analysis at the sales person, geography, pharmacy and doctor level. We created dashboards for daily analysis of field sales data and “white space” opportunities that had a high demand potential.
Developed sales person incentives application that rolled out various novel schemes for sales person engagement.
Visvero not only mitigated the challenges but also helped to address the long-term vision of the company in business expansion and penetration in the market. With the right resources and framework, LG Life Sciences achieved the targeted milestone.
In 2 years became a category leader in the space.
