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
Part 2: Sales Process:
After completion of basic knowledge part. We have reached at sales process where we have to learn have to generate sale for our company. Purpose of basic knowledge part is to clarify doubt arise by your prospect during face to face or telephonic discussion. It’s like to learn basic road safety rules and procedures and vehicle manuals before start driving. You may skip that but it’s always advised to have basic training and knowledge of sign board instructions, vehicles functionality, rules, regulations and guidelines etc. Likewise, before proceeding in pharma franchise sales and marketing, you need to have basic knowledge of pharmaceutical industry, terminology and other aspects.
Sales process will cover
Chapter 4: Identify Prospect (Proposed customer
Chapter 5: Lead Generation and Approaching the Prospect
Chapter 6: Follow-up
Chapter 7: Close the Sale
Next: Chapter 4: Identify Prospect (Proposed customer
Previous: Chapter 3: Know About Pharmaceutical Industry and Pharma Terminology
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