Once
you set up a pharma franchise, it is essential to promote your business.
Without marketing, it is very difficult for a business to thrive and grow. However,
you must keep in mind that the pharma business operates differently and
therefore, the rules of marketing also change.
Know
more about PCD Pharma
As
the owner of a pharma
franchise, you cannot directly reach the end customer. Your interaction
must be with the doctors and the distribution channel. To successfully promote
your business, several marketing strategies can be implemented. Let’s take a
look at some common marketing methods used in the pharma business.
Franchise Marketing
Franchise
Marketing is quite common in the pharmaceutical industry and it mainly targets
distributors and franchises. All marketing strategies are aimed at improving
sales and profit margins.
Generic Marketing
Generic
Marketing centers around stockists and retail counters. It helps to improve
bulk sales and despite smaller margins, businesses benefit from larger
transaction volumes. In this case, products are not marketed to doctors or
patients directly. The channel partners are mostly concerned with the end
customer.
OTC Marketing
As
a pharma franchise, if you have medicine stocks that do not require a doctor’s
prescription, the marketing strategy is completely different. In the case of
OTC or over the counter medicines, advertisements and promotional material are
used for marketing products. It is important to let the customers know about
its benefit and how easily it can be accessed from a local store. But these
medicines are generally priced lower than other medicines and therefore, its
profit margin is quite skewed.
Branded Marketing
The
doctors are your main target audience in Branded Marketing. As a pharma franchise,
you need to convince doctors to prescribe these medicines to patients. Branded
products generally are priced higher and often ensures bigger margins for the
dealers. So, your marketing strategy must take into consideration the chemists
as well. If they substitute your product with a similar product from another manufacturer,
sales will be limited.
Depending
on the kind of products you stock or manufacture, choose a marketing strategy
that is ideal for your business.
Albia
Biocare is one of the most renowned PCD Pharma
companies in India. Our team of skilled professionals provides
excellent quality pharma products sourced from renowned manufacturers. With
over 15 years of experience in the industry, we have a wide variety of products
ranging from tablets, capsules and softgels to ointments, drops and
powders.
