Pharmaceutical companies typically use a variety of factors to determine the price of their drugs, including: Development and production costs: Pharmaceutical companies invest significant amounts of money into the research, development, and production of new drugs. The cost of these activities, including clinical trials and obtaining regulatory approval, is factored into the price of the drug. Marketing and Distribution Cost: Marketing and distribution costs may also be considered by pharmaceutical companies when determining drug prices. These costs include expenses related to advertising, sales representatives, and distribution networks. Drug Uniqueness: If a drug is the first of its kind or represents a significant improvement over existing treatments, the pharmaceutical company may set a higher price for it. If a drug has many competitors or is like existing treatments, the company may have to set a lower price to remain competitive. Market demand: Companies also consider the dem
Start taking Orders (Step 15 of our how to set-up new business guide) You have completed all steps for setting up new business . You have promoted and marketed your business, you have recruited sales staff or working as a salesperson by own self. Now it’s time to do work in field and collect order. Why we have placed taking order at fifteenth step because without complete preparations, you shouldn't go to collect orders. Without preparation, there may be possibility that you can’t fulfill their orders or may get unexpected huge order and you aren’t in position to complete it. If you don’t fulfill any order timely, you may lose a good customer for lifetime. So, once you have completed all your set-up and in position to fulfill it, you should start taking orders. Order processing part should be easy and free flowing, and don’t include any unnecessary barriers. You should take care of certain factors while taking orders: Reputation of your customer: Whether they payment schedule is g
