ANLY482 AY2017-18T2 Group32: Project Insights
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We have completed our analysis for the first KPI. The following calculation was used to obtain the renewal rate for TCE products:
Based on our calculations, current renewal rate for GSK is at 47%, which is quite far away from their target of 95%. In order to boost the renewal rate, we would recommend the sales team at GSk to focus on these three areas:
i.Big Public Hospitals
Our EDA has revealed that GSK’s top three customers are Changi General Hospital, NUS Hospital and Tan Tock Seng Hospital. It is imperative that the sales team strive to focus sales on customer like the latter two who have made lesser purchase from GSK in 2017 as compared to 2016 in order to prevent them from approaching GSK’s competitors in 2018.
ii.Best-selling drugs
The sales team should focus on pushing for the top three selling products namely: Keppra, Zeffix and Hepsera as they bring in significantly more revenue. This is especially true for Keppra which is able to bring in more than 3x sales revenue than the second most popular item.
iii.Fast growing clinics
Other than big public hospitals, the sales team should keep an eye for fast growing clinics and private medical facilities. Our top three recommendations are : Joy Clinic & Surgery, Parkway & Shenton Pte Ltd ( Woodlands MRT) and Ban Kok Clinic due to their high growth in purchasing in 2017 as compared to 2016.
