Pharmaceutical market is different from other markets in every aspect. In Pharmaceutical market we can’t approach to direct customer i.e. patient. We have to market our products to Doctors. Doctors are the primary customer to all Pharmaceutical Companies whether it is a Generic Company or Branded (So called Ethical) Company or PCD company.
Different type of markets and different types of ways of work is followed by pharma companies. Even there is difference in considering – primary customers. Few well known marketing and sales types are:
- Generic Marketing
- Prescription (Ethical/Branded) Marketing
- PCD/Franchise Marketing
- OTC marketing
- Hospital Supply
- Pharmacy Chain Supply
- Online Pharmacies
Stockiest or retail counter is primary customer. There is very little concentrate toward Doctors and Patients in their marketing strategy or technique. Low margin marketing type but transaction is done in bulk. Bulk purchasing compensate margins. read more about Generic Medicines Here
Prescription (Branded) Marketing:
Doctors are matter of prime concern. Pharma companies may target is to prescribe its brand from doctors. There is little concentration require for patients and distributors. Chemist is also matter of concern because they can substitute your brand with similar product. That is the main reason for heavy price for branded products because they don’t consider the patients aspect in it. In recent time DPCO regulate prices of medicines. Read How to sell through prescription here
PCD or Franchise Marketing:
In pcd/franchise marketing, Franchisee parties or distributors are prime targeted audiences. Companies market strategy move around franchisee. Franchisees prices depend at production cost of medicine. Read What is Pharma franchise and how it works?
OTC (Over The Counter Products) Marketing:
One another type of marketing pharma Companies follow is OTC i.e. over the counter products. Not all pharma products can’t be promoted by this way, but cosmetics or pain or skin preparations – mainly be promoted as OTC products by companies. Marketing strategy mainly involves advertisement and promotions – as other sectors company’s do. Read more about Over the Counter Products (OTC)
In last few years, one main change in pharma sector’s marketing strategy was – directly supply to big hospitals, Government hospitals and chemist chain’s stores, online pharmacies etc.
Hospital’s chain promotes the interest of pharmaceutical companies toward directly supply to big hospitals. Government’s motto to provide easy and cheap medicine to poor people also inspire Pharmaceutical companies to supply and quote lowest prices to government for procurement of proper and effective medicine to general public. But low rates and easy availability of medicines doesn’t provide any benefits to patients.
Pharmacy Chain Supply:
Pharmacy chain may be popular or successful in metro cities or some areas but concept doesn’t provide strength to pharmaceutical sector and doesn’t inspire other corporate houses to come in this business.
Online Pharmacy Supply:
Online Pharmacy concept is becoming popular in India. Online medicine selling also has become a good opportunity to sell medicines in Pharmaceutical Sector. But supplying medicines are subject to Registered Medical Practitioner’s Prescription so prescribing medicines from doctors is also necessary for selling medicines online. OTC products could be sold out without doctor’s prescription. Read more about Online Pharmacy business here
In recent time, Pharmaceutical sector has become open to everyone. Everyone knows about starting pharma company, pharma distribution, pharmacy or any other pharma business. There is pro and cons of every thing and here is same also. Easy to start business also motivate big wholesaler, medical representatives, manager level marketing professionals and businessmen to start own pharmaceutical manufacturing and marketing. Now a days it’s easy to procure raw material, packaging material and every thing nearby.
No surprise – if any chemist can say to you – what is total processed cost of particular ingredient. If doctor’s clinic is running good, he/she will try to associate with a PCD or Franchisee company to supply medicines directly to him/her. Even few multinational companies directly supply medicines to Doctors without any supply chain.
As competition is increasing – new ways of marketing – Marketing Strategies are changing. New ways and concepts of marketing will be generates in near future also. Every company and person should change its strategy as per market trends other wise he will be out from market. Win only who – who will come with different approach and with different techniques.
Updating is natural phenomena and it is also applicable to Pharma Sector. For becoming big, we have to think big and different.
Hope above information is useful to you…
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