There are many merchants who want to set up a store for the sale of medicines but lack information on how to do it. For these retailers, contacting a PCD pharmaceutical company to obtain their monopoly rights is a good option to begin with.
What are PCD pharmaceutical companies?
PCD stands for Propaganda Cum Distribution. These organizations manufacture drugs and contract with distributors to market and promote their products. They supply curative medicines at net prices to retailers and distributors who hold monopoly rights in a particular area to market the company’s products. It can be an individual or complete pharmaceutical franchise company that does the marketing for the producing company.
Drug manufacturing companies may differ from one another in the following ways:
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While some companies have fixed sales targets to hit, others seek regular sales in a particular area.
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Some manufacturers provide promotional material, while others expect the pharmaceutical franchise to develop their own material based on their marketing strategies.
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It is the company’s choice whether to pay marketers upfront or look at the results of their marketing campaign before making any payments.
For a retailer or franchisee, it is very important to choose a drug manufacturing brand wisely before offering your marketing services to them.
How to find the history of a drug producing company:
The entire information database for a drug producer can be divided into two categories:
– External information
– Inside information
While external information can be easily found, internal information can only be found while working for the company. External information would include the name of the company, the year of establishment, the areas they serve, the owners of the company, its divisions, the number of employees, annual turnover, and the like. When a seller or retailer becomes a part of the company, only then will they be able to find out the inside information that includes stock availability, the marketing strategies they follow, and the promotional material they provide. Such information is kept confidential under all circumstances. It can only be determined if they are producing all the products on a regular basis and if they are able to meet the demand when they are asked to supply the same.
So, it can be said that like any other business, this one also involves a certain amount of risk factor and requires trust. It is the talent of the retailer or trader to extract as much information about the producer as he can. To play it safe, certain clauses can be discussed before joining, such as the goal setting system they follow, the term of the service bonus, the marketing material they provide, and other terms and conditions. Having a fair knowledge of these will be helpful in choosing a brand.
Due to the wrong choice of company, marketers are affected in three ways:
– They face financial losses.
– Their relationships with doctors are hampered
– They lose their credibility in the market.
Rather than face such a loss, it is better to explore more about the PCD pharmaceutical company initially.