 |
Our Guest |
 |
| |
From Start To A Category Leader In 7 Years |
| |
Leadership Insights Videos |
Full Interview
|
Future of Analytics
|
On Hiring
|
|
| |
| |
|
| |
Vital Statistics |
In The News... |
|
Name – Jaswinder “Jassi” S Chadha
Title – President, CEO & Co-founder
Headquarters - Bridgewater, New Jersey
Date founded - April 2000
Venture Capital Raised - $13.5 million raised
Employees - 430
www.marketrx.com
|
"marketRx named to the 24th annual Inc. 500 list of "Fastest-Growing Private Companies"
Press Release
November 17th, 2005
The companies that made this list represent the vanguard of American industry, posting an average three-year sales growth of 769%. Inc. 500 companies posted aggregate 2004 revenue of $15.9 billion, and
Read More
|
|
| |
| |
With all of top 10 and 16 out of the top 20 global pharmaceutical companies as customers, marketRx is the leading provider of integrated sales and marketing effectiveness solutions that cover nearly all areas of Sales Management and Operations, Market Research, Product Management and Interactive Marketing.
marketRx enables customers at global pharmaceutical and biotechnology companies to improve the effectiveness of their sales and marketing operations. The company has received many notable industry recognitions since its inception in 2000, including Deloitte's fastest growing technology companies in North America for two consecutive years (2005 and 2006), PwC & Entrepreneur Magazine’s “Hot 100” fastest growing companies in the U.S. (2005), and Inc.500’s “Fastest Growing 500 companies”. |
|
| |
Follow on Social Media |
| Linkedin |
Facebook |
Twitter
|
| |
Jassi's Bio |
Jassi's Blog |
Jassi's Social Contribution |
Jassi is a pioneer in building advanced analytical software tools for designing pharmaceutical sales forces. He has provided marketing strategies to a number of major global pharmaceutical clients, in virtually every major therapeutic category. Clients value his intelligence, perspective and commitment to the highest quality of service. In recognition of his leadership and entrepreneurial achievements, Jassi is the winner of this year’s E&Y "Entrepreneur of the Year" award and was awarded the year 2003 "Top Forty under Forty" by NJBiz Magazine. He is currently on the board of New Jersey Technology Council (NJTC) and is a Chartered Member of The Indus Entrepreneur (TiE) organization.
|
Why did your business model change so drastically?
We eventually realized just how far ahead of the game we were – from the technology-adoption
perspective – and that the pharmaceutical market was not only conservative but also not an early
adopter of new technology solutions. During that first year, we developed a lot of intellectual
property to support our concept. But after a year passed and we weren’t generating any revenue,
we decided to leverage our past professional experience and pursue consulting work. We
thought we could say that we had something new – all the IP we developed initially and were still
using in our business today. Ultimately, five years after we started the business, no revenue came
from our original online marketing business plan.
What ultimately made your business model successful?
With the use of our IP, we defined ourselves as a product-enabled service business. While
customers were willing to pay for new products,we had to focus our services around the IP, tools
and software we already developed. We wouldn’t take on any engagement for which we didn’t have a solution.
Our gross margins were between 45 to 65%, which showed that we had some serious IP
coming out of the company. Additionally we evolved into a subscription business, which had
strong carry over – anywhere from 90 percent to 110 percent. |
Sales and Brand Tracking
In today’s competitive pharmaceutical industry, effectively tracking, analyzing and reporting
key parameters (like promotions effectiveness, call plan adherence, sales forecasts,
performance measurement, field reporting etc) of all sales operations activities gains prime
importance in order to grow and maintain the |
|
| |
competitive edge. This is required in order to
enable fast and fact-based decision making, either planned or due to any market event.
The large number of disparate data sources (both in-house as well as sourced) used by
pharmaceutical companies make the tracking and reporting exercise extremely complex.
Moreover, there is the added challenge of disseminating the right information in the right
form to the right stakeholders at the same time, across all the stakeholders in the operations
teams, field and management, from national to territory level.
Usually the information dissemination process takes so long that the window of opportunity
to take decisions based on that information goes by, causing a huge opportunity loss due to
slow response. marketRx, through its domain expertise and technology strengths, has been
able to effectively tackle these challenges and offers a robust web-based sales operations
tracking solution that helps pharmaceutical companies to integrate, analyze and disseminate
information so that they can leverage their information assets for better planning and
decision making.
Our Approach
Data sufficiency, data integration and data presentation form the three key elements of our
approach. These elements have been rigorously implemented in our multi-channel,
multi-stakeholder and multi-data source product – iTrak™. This management dashboard
application lets you view, analyze and report all instituted sales operations tracking metrics,
anytime and anywhere. Read More |
|
| |
Testimonials |
Sales Management Customer: "We felt a commitment and comfort by marketRx attending to our needs as opposed to pushing an industry solution on us." |
Sales Operations Customer:
"The ability of marketRx to work with the sales and marketing teams, assess the needs of the organization and effectively implement the strategy exceeded our expectations from both a quality and timeliness standpoint. The key difference between marketRx and other companies is their ability to get the sales forces involvement, buy-in and ownership of the alignment process." |
Sales Force Effectiveness Customer:
I enjoy working with marketRx in building our global sales force capabilities. They bring excellent methodologies and tools, a dedicated professional staff, & a willingness to align their goals with our partnership needs. |
|
VP Sales
|
VP Sales, Top 15 pharmaco
|
Global Sales Strategy Leader, Top-10 Global Pharmaceutical Customer
|
|
| |
marketRx Inc In The News
84% of them were profitable. Most importantly, Inc. 500 companies were engines of job growth, having created more than 95,000 jobs since the companies were founded. The Inc. 500 list generated 25,180 new jobs in the past year alone, a stunning 35% year-over-year increase.
November 17th, 2005, Bridgewater, NJ - marketRx, leading provider of sales and marketing effectiveness solutions to the global pharmaceutical and biotechnology companies has been placed in this year's Inc. 500 list of "Fastest-Growing Private Companies".
President & CEO, Jassi Chadha attributes a great deal of marketRx's growth to using motivation as a tool. He believes that in order to inspire bright minds, you must offer the right challenges and a freedom to resolve them without a fear of failure.
The companies that made this list represent the vanguard of American industry, posting an average three-year sales growth of 769%. Inc. 500 companies posted aggregate 2004 revenue of $15.9 billion, and 84% of them were profitable. Most importantly, Inc. 500 companies were engines of job growth, having created more than 95,000 jobs since the companies were founded. The Inc. 500 list generated 25,180 new jobs in the past year alone, a stunning 35% year-over-year increase.
To be eligible for this year's Inc. 500, companies had to be U.S.-based, independent and privately held through their fiscal year 2004, and have at least $500,000 in net sales in the base year of 2001. In addition, their 2004 sales had to exceed 2003 sales. Companies are ranked on cumulative three-year sales growth from 2001 to 2004. Over the years, the Inc. 500 has identified the next generation of world-class companies including Microsoft, Stonyfield Arms, Timberland, Oracle, The Princeton Review, Morningstar, Gateway, E*Trade, Domino's Pizza, etc; all appearing on the list before they became industry powerhouses. |
|
| |
Our Featured Guest of the week - Jassi Chadha, CEO of MarketRx |
Log in / Register
25th August, 2009 
The Definitive Guide to Marketing Metrics and Marketing Analytics
• admin on Building a Career without Breaking a Non-Compete
• mod_nick on Lead Generator: Capture Leads through Speaking
• mod_nick on 10 Steps to Effective Search Engine Optimization (SEO)
• mod_nick on China Vies to Be World’s Leader in Electric Cars
• mod_nick on China Vies to Be World’s Leader in Electric Cars
• mod_nick on The Future of Electric Cars, Summed Up in 10 Minutes