Defining Marketing Excellence for a Global Pharmaceutical Corporation
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Company Profile: Global Pharmaceutical Corporation Situation:
- Global Pharmaceutical Corporation with disparate management systems and operating procedures throughout multiple brands in US and Europe lacked cohesive internal processes and one “master” external voice.
- Chief Marketing Officer (CMO) on board with desire to define Marketing Excellence across geographies and all brands for creation of Best Practice approach for maximizing the effectiveness of marketing spending and better go to market strategies.
- Conducted internal Needs Assessment with key stakeholders within the company to identify business goals and industry challenges.
- Conducted Marketing Diagnostic with key external communications partners to determine alignment with the marketing vision and the external creative output.
- Examined corporate marketing spend across the entire marketing spend chain drawn from purchasing supply management (PSM) to determine gaps in how the spend was being allocated.
- Conducted Competitive Analysis—spend and positioning.
- Analyzed current agency partners and management structures to optimize compensation and staffing models among brands and benchmarked the results among client’s industry.
- Reviewed current marketing operating model and processes for advertising development to address gaps in the marketing value chain.
- Established framework (best practices) for advertising standards and agency assignment by brand to promote cohesiveness between marketing strategy and creative output.
- Client/Agency structure and process truly optimized spend and led to reduction in compensation inefficiencies, and 15% in cost reductions.
- Re-structuring of internal staffing to minimize disruption of employee rotations and create cross-pollination opportunities across brands and geos led to increased knowledge sharing and higher standards.