Factors to Look for When Selecting a PCD Pharma franchise

As the Indian pharma sector is poised to become a leader in the global market, this growth will be fueled by the small and medium sector. While the bigger companies have made significant headway, the main push comes from the SME sector. Not only is it a major employer, it is also an important player in the global stage.

PCD pharma franchise

The PCD pharma franchise is an important part of this sector. Tasked with the propaganda and distribution of the pharmaceutical products, the PCD firms have been key in creating a bigger market for Indian drugs. They are an integral and important part of the pharma sector, often acting as the essential support system for small scale companies that cannot handle marketing on their own.

As a major partner, it is also important that their selection is made carefully. The process has to be similar to identifying and appointing a key business partner. Here is how you can make this selection:

Research: Every important business decision has to start with research and this is no different. We start with researching all the PCD companies in the region or field. You can do a simple Google search or look into directories. You can also ask among peers and industry forums. Check out the company websites, their clients and other relevant details.

Know-how: The pharma sector is actually quite a wide one with generic drugs, branded drugs, medicines for chronic diseases, Ayurvedic drugs and more. The PCD pharma franchise you opt for will be an important business partner. Hence, it must have expertise in the field of your operation. It must understand the consumer behaviour, what drives it and how it can be worked to your advantages. Even if you are going for a new company, look for contenders who come well researched. This is the best indicator of a commitment towards the job.

Financial strength: As stated before, the PCD firm is your partner and their financial strength will often mirror yours. You do not war to partner with a firm only to discover later that it is neck deep in debt. You can do a little research here to find out about the company, its returns and financial position. Do not hesitate to ask them for relevant records.

Distribution network: One of the main functions of a PCD firm is distribution. Hence, it is critical to evaluate their capabilities in this regard. Find out the distribution network, its infrastructure, scope and reach. How can they help you expand the market? Or consolidate your position in the present market? You are looking for a clear business strategy and a plan of action.

Warehousing facilities: A distribution network will sooner or later need a viable warehousing facility where drugs can be stored till required. This ensures a ready supply when needed as well as providing valuable storage facilities. Many small businesses do not need sun facilities in the beginning, but all too often as they grow, their requirements also change.

If you are depending on the distribution firm’s warehousing facilities then make it clear. Ask to see the warehouse and check all details such as, the safekeeping of drugs, security presence and so on.

International capabilities: This is important for firms that want to expand in the international market. A PCD firm can be extremely valuable in this, especially for firms in the SME sector. A PCD franchise firm that claims expertise must have an international network that may include other partners, dealers and retailers. Take a stock of their entire operation, their area of expertise and the marketing tactics. You must also check out their network ambit, area of operation where they are strong. This must, of course, correspond with your own market strategy.

PR division: The other vital function for a PCD firm is the propaganda. In an overcrowded market, this could be the deciding factor. Your PCD firm must not just distribute your medicines, it must also create the market for it. So, check the marketing team in place and their experience, expertise and any past campaigns. You are looking for innovative campaigns, an understanding of the consumer and a clear strategy.

Conclusion

Selecting a PCD pharma franchise ids an important decision that must be taken after considering several important factors. These include their financial position, the distraction network and their ability to develop a cohesive, innovative marketing strategy.

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Challenges Facing PCD Pharma Franchises

In the pharmaceutical industry, PCD refers to propaganda and cum distribution. A PCD franchise, hence, becomes an important part of the marketing of pharma products. In India, PCD firms play an important role in the marketing of pharma medicine, sometimes vital to the parent company’s success.

PCD pharma

In fact, a PCD pharma franchise is often faced with tough challenges in the Indian market. The increasing competition has made their job tougher. For a parent company, a PCD pharma has become an essential organ, vital to maintain its spread and keep up its distribution network.

Some of the unique challenges facing PCD franchises are:

Increasing competition

No one can deny that the Indian pharma sector has had a dream run in the last decade. But all indications show that this dream run could be slowing down. Increasing competition in the domestic and international sectors are squeezing revenues and margins. In the domestic market the small firms are slowly eating up a major portion of the pie. Internationally too the increase in competition is taking up the market. This extends from the US (still a major source of revenue) to other less developed countries. The advance of China in the same sector is another source of worry, since Chinese firms are very good at ensuring low costs.

Poor customer strategies

Historically the pharma sector has suffered from poor customer retention strategies. Usually this is because there is a confusion over who is the customer, the doctor who must endorse your product or the end user who will be using the medicine. In most cases PCD companies focus on the doctors and not the end user. But it is not just these two demographics, pharma companies must also cater to the retailers and wholesalers.

High attrition rate of medical representatives

Medical representatives have to be charismatic salespeople. Although like other salespeople their jobs may essentially deal with propaganda and sale, unlike other salespeople their demographic is highly educated and experts in their field – doctors. In this field a medical representative is charged with convincing these experts to prescribe their product.

The problem they face here is the scepticism of the doctors and their reluctance to assign time for medical representatives. Unfortunately, finding such a charismatic medical representatives is not an easy task. Additionally, this profession sees a high attrition rate. Either they leave before they can gain the requisite experience or the investment that goes into their training is lost.

Fuzzy figures

Sales forecasts in this field are usually not very reliable. This is again because true end user’s demographic has rarely been explored. Most sales figures are culled from retailers and wholesalers who often give uninformed or insufficient data. This effects the inventory and supply of the drugs.

Difficulty in getting new drug approval

Indian laws focus on the process instead of the product when granting patents. While this is essential in a country where expensive medication could be death knell for many people, it does make patent for newer drugs much harder to get. This has also been a major bone of contention between big firms and the Indian system. The patent law makes it harder for them to sell their high-priced drugs in India. This has also affected the involvement of these companies in Indian markets.

Lack of focus on R&D

As mentioned above, the increasing competition in the pharma sector is slowly beginning to squeeze out the Indian firms. To counter this, the future must be focused on increased innovations and diversifying the products offered. Unfortunately, Indian firms are still stuck in creating generic drugs and not focusing on R&D. As international firms consolidate, this approach could turn out to be an expensive mistake!

Quality issues

Despite tightening norms and regulations, the US is still the biggest market for the Indian pharma sector. This is why the increasing scrutiny by US authorities is proving to be too tough to handle. The WTO has also enforced its ambit, forcing many Indian firms to play ball. As a consequence, quality issues have severely affected the pharma sector, including the PCD pharma franchise.

Conclusion

After a tremendous run, the Indian pharma sector is faced with a slowdown. PCD pharma franchises must now understand the challenges they are facing and work to overcome these.

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Meeting Demands with Manufacturing of Pharma Products

Pharmaceutical Industry is developing at a very faster rate because of its products that are being used by us on daily basis. Some misunderstood pharma products to be associated only with medicines, syrups, capsules, tablets and surgical equipment but today it is not limited to these products only. Pharma companies are now dealing in manufacturing of soaps, face washes, shampoos, hair oil, and tooth pastes etc. which are considered to be as daily used products. With increase in demand pharma companies are in race to supply more and more products to meet the requirements so that the other company cannot take advantage given to them.

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How Contract Manufacturing Of Pharma Products Can Be Beneficial For Organizations?

First of all before explaining the benefits offered by contract manufacturing of pharma products, you must know what exactly contract manufacturing is. It is a process in which an organization hires a contractor who provides manufacturing facilities according to their formulas and designs. It is a model that large scale to small scale companies adopt for their own benefits.

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Why They Call Contract Manufacturing Of Pharma Products An “Opportunity”?

Explaining the Key Benefits To Outsource Pharma Products Manufacturing In Detail

contact manufacturing1The increasing cost of healthcare and drugs is a concerning issue for retailers and marketers in the pharma industry. Companies, especially small-scale pharmaceutical products manufacturing units are now searching new reliable option to outsource pharma products. Contract manufacturing of pharma products is a new discovery to healthcare world, where companies have started outsourcing medicines and drugs from separate manufacturing units. It’s a best and most reasonable method to avail quality drugs and medicines without making huge investments for R &D team. Continue reading

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Herbal Cosmetics Franchise Business Is Booming In PCD Pharma Sector

Herbal CosmeticsThat was an old time when people only believed that PCD pharma franchise business for healthcare medicines could bring major profit margins to the franchise owners and the product supplier. With time, the demand of consumers for herbal cosmetics has been recorded higher than other leading brands. It is due to the ‘no-side effects’ tag of herbal medicines and cosmetics range that encourage more buyers in the market to make higher purchases. Moreover, there are potential individuals, who were having a dream of owning a business and they have taken PCD pharma franchise facility as an opportunity to make that dream come true! Continue reading

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Getting Pharma Franchise Provider On PCD Basis Is Your Next Task

imagesWhat Is PCD Pharma Franchise?

When you search for PCD in pharma, you look out for authorized company that can provide you a franchise to carry out commercial activities. A franchise in Pharma industry is an authorized shop granted to a person to sell or distribute pharma products and services offered by pharmaceutical company in certain locations. Continue reading

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