Marketing and sales in biotech
Marketing/Sales: Vice President of Marketing, Product Marketing Manager, Marketing Research Analyst
The Vice President of Marketing oversees development and implementation of strategic marketing programs, is responsible for overall brand performance and accountable for optimizing return on investment (ROI) on marketing programs. Activities include developing and managing brand strategy, managing creation of a brand campaign, monitoring revenue and expense forecasts and managing vendor relationships. Typical salaries range from $110K to $150K.
The Product Marketing Manager has overall responsibility for a product. The Product Manager has a multitude of duties, including creating the marketing strategy, defining the product's features and benefits, deciding on the product's positioning, establishing pricing, planning the launch and post-launch activities, managing the product's life cycle and providing high-level sales support. Product Managers also determine sales training and work with either internal groups or external vendors to produce sales training programs. Typical salaries range from $80K to $110K.
The Marketing Research Analyst supports marketing management by providing information and analysis using both qualitative and quantitative market research data. Analysts assess strategy, build financial models, research trends and other factors (e.g., customer attitudes), analyze provider and patient data, and advise management on the competitive profile of the product. Typical salaries range from $60K to $80K.
Project Management: Director of Project Management, Project Manager, Assistant Increasingly, biotech companies understand the need for internal coordination of projects that involve interactions among several functions. Thus, larger companies have Project Management Groups that have several types of positions. A Director oversees all aspects of in-house projects, with special focus on managing teams across functions. Activities include developing and coordinating projects, contributing to the creation of strategic plans, developing internal management processes, identifying critical path issues and solutions, staffing teams, and managing all phases of projects. Typical salaries range from $110K to $145K. Project Managers are more focused on day-to-day activities of projects and ensure that milestones are met and budgets are adhered to. Activities include developing schedules and budgets, leading teams, serving as liaison, reporting, planning resources, tracking critical paths and assessing risks and contingencies. Typical salaries range from $70K to $90K. Project Assistants are entry-level professionals and provide support to the Project Managers. Activities include collecting updates, maintaining documentation, and preparing status reports. Typical salaries range from $50K to $70K.