Merck Sharp & Dohme

...

Currently, MSD interacts with HCPs through a bunch of systems and with distributors and suppliers through e-mail and electronic fax. It would be efficient and help MSD to scale if they can build one central database wherein everyone can see what is trending and react accordingly. For example, distributors can modify the data from what they see in the pharmacy and that data can be accessed by MSD to work faster with suppliers to figure out the right product in the right place. While detailing frequency has been limited, it would be wiser to use the social media platform to pitch in the right product to the physician based on what he sees in those social media platforms.

Sustainability:

In an effort to keep their market share intact amidst the key developments that have taken place in the pharmaceutical industry, in order to build a sustainable model, it is important to get closer to the customers and key stakeholders, understand them better as to what their needs are, anticipate the changes that are going to happen tomorrow and be prepared- to address the needs of the customers today and to address the anticipated changes for tomorrow. In a fast paced generation today, e-mail cataloging is not the best way forward. Besides, due to availability of tons of information online, one has the choice. Therefore, a company needs to be present in the social media platform which allows business to drive backwards starting from the customer end- here, the interactions, discussions and debates will help the company understand who their customers are and what are they exactly looking for. It may not always be cost that the patient or a stakeholder is looking for. While e-mail campaign restricts the interaction on a one to one basis, a social media campaign allows unrestricted flow of information which helps the company to deliver the expected results. Next, with the availability of analytics tools associated with each of these social media platforms and the ad campaign tools, the company can target their ad campaigns effectively to the right customer- thus, increasing efficiency of their campaign besides, improving the supply chain of their products as the company now knows where to send what product. Compared with e-mail campaign, the social media platforms offer an opportunity to scale as the company can reach more people with awareness with less efforts put forward. In certain ways, this can also help lower the cost. MSD wants to be perceived as a trusted partner offering valued advice. The digital strategy for MSD should allow them to be prompt in their advice. What the digital strategy will help is to reduce the efforts on detailing and provide information to customers about what they want to hear.

Improving human life:

An emerging threat in the pharmaceutical industry was the sales of illegal pharmaceutical products- counterfeit or falsified drugs. These contain ingredients that are different in quality or quantity from the legally approved drugs, thus impose serious risk to human health. MSD has maintained as a trusted partner in providing valued advice. Taking the lead in the consumer market and making effective use of the digital strategy as described above, MSD can prevent customers from taking such drugs by spreading the requisite information to the consumers. In this way, MSD will not only preserve and improve human health and life but also forge a long term relationship with customers through trust.