How Resource Groups Saved This Pharma $2 Million
Novartis wanted to fulfill its business mission of improving patients’ lives by reducing healthcare disparities and also to reach its business goal of increasing sales. Using its seven resource groupsbased on race/ethnicity (groups for Blacks, Latinos, Asians, Russians, Chinese, Southeast Asian Indians and American Indians), the company conducted its own market research on culturally competent strategies. Hundreds of strategies were vetted over a two-year period for cultural insights, consumer research, translations and new ideas.
Novartis reports that the strategy led to more than $2 million in savings on market research and helped it reach more than 30 million consumers last year. Employee participation in the resource groups has also increased substantially.Novartis Pharmaceuticals Corporationis No. 13 in the 2012DiversityInc Top 50.
Watch the presentationby Steve Millerman, director of cross cultural marketing for Novartis Pharmaceuticals Corporation, below to learn more about these resource groups. Presentation slides are available on BestPractices.DiversityInc.com.
View the other Innovation Fest! presentations from our event atwww.diversityinc.com/innovationfest.
For more best practices on resource groups, view ourDiversity Web Seminar on Resource Groups: Connect With Customers for Top Sales Results.