Incentive Compensation Guiding Principles #3: Create Fairness / Equity

Equal Earning Opportunity (Unbiased Plan) When territory differences are not accounted for in an IC plan the differences in payout may have more to do with differences in territory dynamics such as product potential, product share, managed care or accessibility than with individual performance. This is often referred to as a biased plan. Establishing fair [...]

Incentive Compensation Guiding Principles #2: Be Motivational

Driving intended positive behaviors Every single IC Plan, no matter how well thought out or off-the-cuff, has one thing in common – in impacting pay, it also drives emotions and behaviors. However, the type of emotions and behaviors (which can be positive or negative) that are driven will vary for every plan. In order to [...]

Incentive Compensation Guiding Principles #1: Align with Strategy

Aligning with company or brand strategy Every organization and brand carries a strategy for commercialization success to which an incentive plan should be aligned. These strategies can vary significantly based on brand characteristics and requirements, the brand’s position in its life cycle, market or policy situations, and the list goes on. Strategic alignment becomes even more complex [...]

Press Release: KMK Consulting, Inc. Expands Presence in Boston to Help Biotechnology Companies from Pre-Launch to Commercialization

KMK Consulting, Inc. announced the expansion of the company’s footprint in the biotechnology hub of Cambridge, MA. This expansion strengthens KMK’s presence for the sales, support, and delivery of commercial operations, primary market research, and sales force effectiveness consulting for the biotechnology corridor. With this expansion, KMK can better meet the needs of biotech companies before and during the commercialization [...]

Unlock forward looking Insights via Machine Learning

Data driven commercial analytics from general empirical to granular Today’s machine learning techniques provide us with a solid basis from which to look forward. With the help of machine learning, pharmaceutical managers can start thinking about the next area where one can bring added value to the HCP or patients. Ultimately, one can make predictions [...]

KMK Value Based Medicine

Delivering Customer Value Accelerating Brand Performance in an Era of Value-based Medicine Delivering exception customer value – we hear about it every day within the circles of sales and marketing, but what does it really mean? Why is it important, and in the end, does it really matter? Clearly, questioning if value matters is a [...]

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