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
Important point in Pharma Franchise Marketing
- You should have price list with products that are available with you at regular basis. Don’t add products that aren’t available at you or you can’t fulfill at short span. You should also remove all products that you have discontinued or going to discontinue due to less demand or repeated expiry of stock.
- You can get party order based upon manipulated price list but can’t keep distributor for long time as they will easily understand your trick. Pharma Franchise business is based upon long term partnership with customer. A pharma Franchise Company only get benefited if a pharma franchise distributor remains associated with them for long time period.
- Prices should be reasonable and same for a particular location for all distributors.
- Keep your term and conditions simple and easy to understand. Don’t hide any point to associate with prospect. This make ruin your relationship with your party in future. Make clear all term and conditions in starting.
- Try to provide as much as support to your client so they can succeed in franchise marketing. You need to understand that your client growth is your growth.
- Make solid online presence. Online presence helps to create trust in prospects mind set which ultimately helps to convert into business. You should remain available to clear all doubt arises by your parties.
Previous: Chapter 7: Close a Sale
Complete Pharma Marketing Course Parts are as Follow:
Part of this course is as follow:
Chapter 2: Know About Pharmaceutical Company and What a Franchisee Distributor Wants?
Chapter 3: Know About Pharmaceutical Industry and Pharma Terminology
Chapter 5: Lead Generation and Approaching the Prospect
Chapter 6: Follow-up
Chapter 7: Close the Sale
Part 1: Basic Knowledge of Pharmaceutical Industry:
Chapter 1: What is Pharma Franchise? Pharma Franchise Model, Benefits, Profitability Ratio (Profit Margins) etcChapter 2: Know About Pharmaceutical Company and What a Franchisee Distributor Wants?
Chapter 3: Know About Pharmaceutical Industry and Pharma Terminology
Part 2: Sales Process:
Chapter 4: Identify Prospect (Proposed customer)Chapter 5: Lead Generation and Approaching the Prospect
Chapter 6: Follow-up
Chapter 7: Close the Sale
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