When an entrepreneur or small business decides to establish a franchise of a PCD Pharma Franchise Company like Vivaceutical, a lot of decisions need to be made. One of the most crucial decisions is in regards to the product range that you want to sell once the franchise is established. While the PCD company (parent company) might deal in a multitude of pharmaceutical products, as a PCD pharma franchise you cannot take up all these products. As the business will be in its initial stages, you’ll have to focus on shortlisting the highest quality pharma products from a broad range and finding those that are available at an affordable price.
The entire range of products you choose will also help you decide on the marketing path you should opt for. In this article, we’ll cover some tips to choose the best products for a PCD pharma franchise and the right ways to market them.
How to Choose the Best Products for PCD Pharma Companies in India
Market Research
To become the best PCD pharma franchise in India, you must be aware of the market demand and supply. First and foremost, gathering information about the area you’re about to extend your services in is crucial. This means deep diving into the market analytics, especially about the locality. You can list down the type of products that have the highest demand in the market, and the ones that are most easily available. This way, you’ll be able to decipher the type of products you want to introduce in the market. This will also allow you to target a certain customer base that your competitors might have missed out on. This is one of the first things you must do before finding the best PCD pharma company that fits your requirement.
Existing Products
Be on the lookout for the products that are already available in the market. Analyze which products are selling well and which ones are not. Once you’ve figured out the type of products that are most in-demand with limited supply, you can start by overtaking that part of the market. If there is already enough supply of the pharma products, go through the compositions of those available medications. Learn about what other PCD pharma franchise companies are putting into the market and bring better products to overtake them. For that, you’ll have to find PCD pharma companies that prioritize world class healthcare solutions and deliver on quality and consistency through all their products.
Plan Your Investments
An approximation of how much you’ll need to invest in the business, from setting up your physical presence to applying for all crucial licenses and taking the medications to the market. Once you have an idea of how much it is going to cost you, you can make better and more practical decisions. If your investment is low, you can opt for a more economical set of medications. The quality, in this case, is not something to worry about. PCD pharma products have to comply with quality standards.
Experience From Past
If you’re an old player in the race, you must know how to use your years of experience, your expertise, and your connections to push you in the right direction. This will also help you understand the market better as you’re not starting from scratch. Instead, the knowledge that you’ve accumulated over the years will give you an upper hand over your competitors. You’ll know how to analyze the changes taking place in the market without having to start from scratch.
Once you’ve thought all these things through and planned the products accordingly, you’ll be able to sell your pharmaceutical products in the market, even when your competitors have established their supremacy in the market.
Once you’ve finalized the products that you want to deal in, you can go ahead and plan a marketing structure that will get you the most traction.
Ways to Market Products of a PCD Pharma Company in India
For a PCD pharma franchise company to market pharma products, there are a few factors that can be kept in mind to improve the reach and improve the sales. This includes knowing what the people around you require and delivering exactly that. Keeping their affordability and aesthetical requirements in mind along with using the right marketing tools can be the secret to getting the right consumers for your products.
Let’s discuss some of these ways that you can market your PCD pharma products for maximum sales:
Understanding the Targeted Audience
If you’re setting up your pharma franchise business in a region, you must be well versed with the medical requirements of the people around you. This can also depend on the economical status of the region. Once you know the budget of the people living in that region as well as the general medical requirements, you can find a PCD pharma company that manufactures those medications.
Analyse Your Competitors
Find the PCD pharma franchise companies that your competitors have been collaborating with as well and look into the type of products and services they provide. This will give you a point of comparison and you can find a pharma franchise company that can provide better quality products.
Product Packaging
When a consumer steps into your pharmacy, their first impression of medication is via its packaging. If you’re thinking about the colours and design of the packaging, we’re thinking a little differently. What we mean by packaging is how clean, simple, self-explanatory, and easy to open and use the product is. Your pharma products are a direct advertisement for the company if done right. The packaging should also clarify if the product being sold complies with the WHO and GMP standards or whether they’ve been certified by the FDA, DCGI, and FSSAI. Without any additional costs of marketing it on different platforms, you should first focus on this aspect of marketing. Browse through different companies that offer PCD pharma franchise opportunities and choose the company that invests in their product packaging.
Anything from shabby packages, cracked containers, or incomplete information on the package can have a negative impact on how the customer views your products. Therefore, you should be aware of the manufacturing process and packaging methodology followed by the pharma company. Your job as the owner of a franchise is to find the best PCD pharma franchise companies in India that you possibly can.
Addressing Client Issues
One major part of starting a new pharma business or introducing a new product range into the market is getting honest feedback from the consumers. A business that is open to consumer reviews and works on improving the product quality is always well received. This means that simply doing your work and ensuring that your consumers enjoy what you put out is enough to market your brand.
You can do this by allowing customers to send feedback via email, comment on social media channels of your company, or dedicate a form to all sorts of complaints that the customers may have. Providing a helpline that customers can call anytime is another great way of being available anytime there is any feedback to receive.
Advertising in Print Media or Online
Advertisements never went out of style, the platforms simply changed. Today, even with our domestic market, marketing your pharma products on a virtual platform can garner much better results than anything else. Along with hoarding or pamphlets, using social media channels can help you attract the right customers. Any creative and innovative ads that are different from what other pharma franchise companies are doing can help you garner the right type of attention for your products.
There are multiple other ways for a PCD pharmaceutical company to market its products to attract customers. However, the 5 ways specified above are a good place to start.
