How to Start Pharmaceutical Business

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 condit...

Video Language is Hindi Chapter 6: Sales Lead follow-up in Pharma Franchise Marketing In previous chapter, we have discussed about different ways of generating leads and prospect’s contact details, promote and advertise pharmaceutical company for generating franchise queries. We will discuss about follow-up here in pharma franchise marketing . You need to learn about follow-up because good follow-up may lead to convert a lead into business and spammy follow-up may damage your and your company reputation. Follow-up is must to do for pharma franchise marketing. You need to take regular follow-up with prospect periodically but you should make sure not to spam and irritate others with your follow-up. You can send reminder mails or massages or make calls etc.  How to follow-up? First you need to make a list of all leads in excel or any other ways that you receive This list should contain Firm name, contact person name, address if you have, phone number, e-mail address and follow-up dat...

Video Language is Hindi Chapter 7: Close a Sale In previous chapter, we have discussed about follow-up of franchise queries. In this chapter, we will discuss about finalizing your pharma franchise distributor and close a sale. You have made regular contact with prospect during follow-up. As we have discussed in previous chapter, there are generally four types of queries you will receive. During follow-up, some queries will convert into your distributors and some will not. That’s the part of game. You can’t convert all queries into sale. In Pharma franchise marketing, we generally consider that parties that come through your promotion and advertisement will associate with you at your term and condition and parties to whom you approach and try to give you distribution, will try to impose their own term and conditions. So, you should try to promote your business so prospects come to you and work with you at your term and conditions. You need to make regular follow-up with leads you recei...

Video language is Hindi Chapter 4: Identify Would be Customers (Prospects) in Pharma Franchise Marketing First rule of sales is to identify prospect. A prospect is an individual or business whom have possibility of becoming your customer in near future. You can’t waste your time to call or approach every person/business in pharmaceutical sector to introduce your product or ask for becoming your franchise. This is frustrating and useless way of spamming. You call fifty of persons daily and e-mail to hundreds of e-mail Id’s but get back hardly any. Problem is not in your efforts but problem is that you are approaching to wrong persons. Like other businesses, in pharma franchise marketing , you need to know who could be your future customers and to whom you need to reach to ask for becoming your franchise distributor. In this chapter, we will try to identify who can be your prospect or future customer. For completing a sale, a business needs a product/service, a salesperson and a customer...

Video Language is Hindi Chapter 5: Lead Generation and Approaching the Prospect (would be customers) We have identified that who could be our targeted prospects in our last chapter. In this chapter, we will try to reach to prospects, lead generation and approach them for taking our pharma franchise distribution. This will refine our prospect reach as we will concentrate only on those prospects that could be our customers, not every doctor, retailer, distributor or sales professional. There are generally two ways to generate new leads and business. Reach to prospect Advertisement and Promotion Both of cases have own advantage and disadvantages. We can find prospect through either we reach to proposed customer or we advertise and promote our business so prospect react to us.  Reach to prospect: Reaching to prospect includes travel to prospect destination, cold calls, promotional massages and e-mails, social media contacts etc. In this way, we collect information about prospects throu...

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 ...

Language in Video is Hindi Chapter 3: Know About Pharmaceutical Industry and Pharma Terminology We have learned very detailed information about pharmaceutical industry in our basics like what are the drugs, types of drugs, how to sell, market size, growth opportunities. In this chapter we will know about common pharmaceutical terminology use in Pharma Franchise Marketing . Sales Types: We have covered in our Basic Knowledge of Pharmaceutical Industry section Net Rates: Net rates are the rates at which a pharmaceutical company sells a product to pharma franchisee. These rates may be exclusive or inclusive of GST and Freight. Price to Retailers (PTR): Price to retailer is the price at which pharma franchisee distributor sell products to the pharmacy or chemist shop . These prices may also be exclusive or inclusive of GST. Price to Stockist (PTS): Price to Stockist is the price at which pharma franchisee distributor sell products to the distributor or stockist . If pharma franchisee work...