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Meaning of PMT in pharma
5 Nov 2014

What is the meaning of PMT in Pharmaceutical company?

PMT stands for Product Management Team. It is very common term which is used in pharmaceutical industry. In Pharmaceutical industry commonly Brand Management Department is known as the PMT department. PMT Team consists of different hierarchy professionals like Product Executive, Product Manager, Group Product Manager, Marketing Manager etc. Pharma PMT department responsible for preparing the marketing strategy for the brands.

Role of Product Manager or member of the PMT department

  • Product manager is responsible for brand strategy planning for brands
  • Developing brand strategy, promotional material & technical literatures in alignment with strategy for all the brands
  • Ensure implementation of strategy through field work and interaction with field force
  • Prepare annual Calendar for all the meetings and product launch plan
  • Achieve financial goal for each brand
  • Monthly Sales forecasting for each brand
  • Analysis of data, trends, studies
  • Continuous brand and territory wise tracking of the sales
  • Training of new team members to familiarize them with the product portfolio
  • Selling skills and management model of the organization
  • Providing Market/Field research, situational assessment, Pre-launch and post-launch strategies, competitive landscape, time-lines, key competitor details, pipeline information and other requisitions that may drive better Business decisions and can help develop critical strategies for the client product
  • Conducting secondary research utilizing several databases [details in database-expertise list, overleaf] and other online resources
  • Handling the Product Promotion and managing conferences
  • Handling of external AD agency/PR team

 

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