Abbott Director, Upstream Marketing in Plano, Texas
At Abbott, we're committed to helping people live their best possible life through the power of health. For more than 125 years, we've brought new products and technologies to the world -- in nutrition, diagnostics, medical devices and branded generic pharmaceuticals -- that create more possibilities for more people at all stages of life. Today, 99,000 of us are working to help people live not just longer, but better, in the more than 150 countries we serve.
The Abbott Neuromodulation business is the fastest growing business in one of the fastest growing segments of MedTech. We are looking for a Director of Upstream Marketing who can provide vision to and lead our internal and external development / investment strategy in order to protect and grow our leadership.
The Director of Upstream Marketing has primary responsibility for determining the product development and investment strategy across both the chronic pain and deep brain stimulation segments of the Neuromodulation business. Neuromodulation is one of the few MedTech segments that is >$2B in revenue size with growth at double digits. Abbott Neuromodulation has been one of the fastest growing competitors in the space and has reached global and US leadership in the key Chronic Pain stimulation space. This role will be responsible for ensuring that the business maintains the right cadence of innovation and launches in order to maintain the impressive growth trajectory. This position will be responsible for building and leading a team of product managers.
Creates multi-year strategic growth plans and a robust global product roadmap, drives alignment on strategy with Sr. Leadership and R&D peers
Translate the business goals to strategic plans that will drive revenues and exceed financial performance expectations worldwide.
Create global market overview maps of key applications and technologies
Identify and predict strategic competitive plays and market positioning.
Map out competitive strategy and develop / execute strategy to advance the business
Bring a creative and innovative approach to one’s work to differentiate company products from competitors in the marketplace
Develop a deep understanding of customer needs, market trends, technology trends, identification and assessment of significant growth opportunities, and create strategies that deliver profitable market share. Identify and execute market research activities to drive business platform/portfolio decisions
Analyze qualitative and quantitative market data in order to identify trends in the market and thereby, translate these trends into business opportunities and actions.
Identify and pursue incremental growth opportunities (new markets, new channels, regional opportunities, tech uses, etc.) outside and within the existing portfolio
Conduct opportunity modeling of new technology platforms including cannibalization / obsolescence of existing products
Create a relevant and differentiating global value proposition
Identify strategic positioning of product platform
Identify immediate, midterm and long term product gaps within the portfolio and provide solutions to fill the gaps
Complete business plans by analyzing different operating models and distribution channels
Complete financial modeling in support of business plan proposal
Identify key growth areas and key applications
Innovation, New Product Development & Portfolio Management
Identify Product Strategy
Determine / prioritize key unmet needs and opportunities
Lead team in defining market opportunities
Lead new product development process by driving VoC into development process – this will include driving your team to leverage formalized advisory boards and to create informal physician relationships.
Leads cross-functional team to ensure resource allocations and focus consistent with the needs of the business
Work with Downstream Marketing colleagues to develop pre-launch marketing conditioning plans and product launch plans.
Collaborate with the Global, U.S. and International regional leadership to ensure visibility and financial ownership for new products in development
Create a portfolio management process that allows the company to analyze and manage the total investment portfolio.
Partner with stakeholders to develop processes and tools to effectively manage the business needs for different classifications of investments and projects
Develop consistent approaches to project proposals, market models, metrics (ROIs, NPVs) and market assumptions to enable strategic discussions and informed decisions
Proactively identify M&A opportunities to support the growth objectives of the business. Work with other functional groups to assess opportunities and perform due diligence to validate opportunities.
Review potential transactions for strong strategic fit and rationale
Partner with Corporate Licensing & Acquisitions group in preparing and presenting opportunities to leadership, including Executive and board-level materials for transaction approval
Ensure that the organization’s value proposition is securely and appropriately grounded on financial strength and results, as it relates to M&A activities and other external strategic initiatives
Complies with U.S. Food and Drug Administration (FDA) regulations, other regulatory requirements, Company policies, operating procedures, processes, and task assignments. Maintains positive and cooperative communications and collaboration with all levels of employees, customers, contractors, and vendors.
Performs other related duties and responsibilities, on occasion, as assigned.
Must be able to communicate vision and win others over to a unified strategy
Strong leader and partner
Bachelor's degree in Business Administration, Marketing, Program Management or equivalent. MBA preferred.
Eight to ten (8-10) years of progressively more responsible business experience in a class III medical device company or equivalent, including product, market or program management experience.
A substantive knowledge of the medical device industry, health care delivery, and managed care/reimbursement markets and the factors that drive them.
Chronic pain or Neuromodulation experience preferred.
Demonstrated experience at a leadership level.
A thorough understanding of marketing, strategy and M&A processes
Strong device business acumen, strategic thinking, commercial focus and customer skills.
Exceptional project management skills.
Ability to foster collaboration, influence others outside of reporting structure and work collaboratively across a matrix structure.
Analytical skills enabling financial modeling, business analysis and progress tracking and visibility.
Ability to work with US and International internal and external stakeholders.
Ability to predict, prevent/identify and address obstacles impeding progress.
Seasoned judgment acquired through organizational experience and a demonstrated record of achievements in successfully building a business.
Demonstrated verbal and written communication, interpersonal and presentation skills; the ability to lead a cross-functional team.
Demonstrated working knowledge of frequently used personal computer programs and applications, such as, Microsoft Office. Must be adept at handling multiple assignments and accomplish these projects within budgetary guidelines.
Works closely with Product Marketing, Program Management, Clinical Affairs, US and International Marketing.
Experience working in a broader enterprise/cross division business unit model preferred.
Ability to work in a highly matrixed and geographically diverse business environment.
Strong leadership skills, including the ability to set goals and provide positive and constructive feedback respectfully to build positive relationships and improve business results.
Ability to work effectively within a team in a fast-paced changing environment.
Strong verbal and written communications with ability to effectively communicate at multiple levels in the organization.
Multi-tasks, prioritizes and meets deadlines in timely manner.
Strong organizational, planning, and follow-up skills and ability to hold others accountable.
Ability to travel approximately 30%, including internationally.
Ability to maintain regular and predictable attendance.
An Equal Opportunity Employer
Abbot welcomes and encourages diversity in our workforce.
We provide reasonable accommodation to qualified individuals with disabilities.
To request accommodation, please call 224-667-4913 or email firstname.lastname@example.org