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How to grow your Pharma Business?

  Growing a pharma business requires a strategic approach considering the specific context of your company and the pharmaceutical industry as a whole. Here are some general pointers to get you started: Market and Customer: Identify your target customer: Deeply understand the specific needs and challenges of your target audience, whether it's doctors, patients, hospitals, or other healthcare providers. This helps tailor your products, services, and marketing efforts. Focus on unmet needs: Look for gaps in the market where existing solutions are inadequate or unavailable. Addressing unmet needs can give you a competitive edge and drive innovation. Track market trends: Stay updated on regulatory changes, technological advancements, and emerging diseases to adapt your approach and anticipate future opportunities. Products and Services: Invest in R&D: Develop innovative products or differentiate existing ones through unique formulations, delivery methods, or combinations. Remember ...
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Queries on starting Pharma Marketing company

Query:

Sir, we are 4 friends willing to start a Pharma marketing company.
We initially planned a budget of total 4 Lakh.
We chosen 5 tablet items and 3 IV products which run on regular basis. 
Following of the queries I wanted to share-
1) Is 4 Lakh budget is sufficient for initiating this project?(8 items).
2) How do we introduce general IV products into Private hospitals and nursing homes?
3) How long it will take a time to run this business smoothly and grow?

Response:

1) Is 4 Lakh budget is sufficient for initiating this project?(8 items).

Best way to know about this is that, you can take rates of your proposed products from manufacturers and calculate your costing. You would have better idea about your budget then.

2) How do we introduce general IV products into Pvt hospitals and nursing homes?

We hope you have experience and knowledge in those molecules. You just conduct a market survey about prices at what these products are sold in market and you can sell those at what rates to become competitive and consumption in each hospital and market your products accordingly.

3) How long will it take to run this business smoothly and grow?

It takes nearly 3 to 5 years to establish a business.

Hope above information is helpful to you...

For any query and suggestion, mail us at pharmafranchiseehelp@gmail.com
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