Pharmaceutical Sales and Marketing Consulting Key Terms

Get ahead by learning pharmaceutical sales and marketing consulting key terms

Consulting within the arena of pharmaceutical sales and marketing is a challenging business. Consultants must know the language of the business as well as have knowledge of its legal regulations. Pharmaceutical sales and marketing consulting requires a consultant to be aware of what is taking place at any given time within the pharmaceutical industry. The following list contains terms that all consultants working within the pharmaceutical industry should know and understand.

 

Federal Food and Drug Administration (FDA)

As a pharmaceutical consultant, it's imperative that you are familiar with the Federal Food and Drug Administration. The FDA is an agency that regulates the pharmaceutical industry, including medications, medical devices and clinical trials. All the legal regulations that a consultant needs to know are created by the FDA.
Try: Visit the Federal Food and Drug Administration website to learn about and keep up to date on pharmaceutical regulations.

Accreditation

Accreditation is the means of ensuring persons in specific fields, including the pharmaceutical field, meet set standards in terms of knowledge and training. Companies hiring consultants look for persons who are accredited.
Try: The Accreditation Council for Pharmacy Education gives an overview of the accreditation process.

Biotechnology

Biotechnology is the use of biological substances to create specific products, such as medication and hormones. Consultants don't need to be experts in biotechnology, but they do need to be aware of what it involves and how it works.
Try: A good overview of biotechnology can be found at Imaginova.com.

Physician targeting

Pharmaceutical consultants will need to target specific physicians that are apt to buy specific medical devices or medications; this concept is known as physician targeting. Targeting the correct physicians or companies makes your time as a consultant much more effective.
Try: The SAS Institute is one company that helps consultants obtain and organize the information necessary to target specific physicians.

Market intelligence

Consultants will want to demonstrate to prospective clients that they have market intelligence, meaning they understand current trends. Additionally, consultants must show that they know marketing strategies and are aware of new product development.
Try: For an overview of market intelligence, including how to gather market intelligence data and resources, visit dobney.com.

Pre-approval inspection (PAI)

As a pharmaceutical consultant, you may need to walk your clients through the pre-approval inspection process for new medication or medical devices. You will need to be aware of the requirements of this process.
Try: The website sponsored by GMP Online Consultancy walks you through the entire pre-approval inspection process.

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