Marketing Case Studies_Task03_SC

Using the research found on pharma marketing and articles around competitor shifts in SG&A spend, identify key trends that Impact can apply to SG&A spend that could reduce overall costs. In particular, please note any specific competitor stats around spend reduction related to these trends, as it can help indicate the potential cost savings for Impact. 

Please write summary on changes in pharma marketing, as well as sub-points for specific actions they are taking and any percentage decrease in ...

Pharma marketing is becoming more personalized, more digital-centric, and more focused on direct-to-consumer, with technology like AI and wearables impacting end-consumer decisions; competitors are moving away from TV spend and more toward trackable digital advertising.
- HelioZenon reduced broadcast spend by nearly 35%
- Meridon reduced TV spend by 25% 
- Abvuera reduced TV spend by nearly 50% 

If Impact were to reduce TV spend by similar amounts, it could save roughly $52,582,790 annually. 
There is a trend in shutting down regional offices, citing declining utilization and a shift toward hybrid work and digital operations
- BayGenea has had 20% of its office space sitting idle since the pandemic
- BayGenea aims to save an estimated $180 million annually through this real estate optimization.

If Impact were to reduce 20% of its real estate spend, it could save $19,697,800 annually.