How to do medicine marketing with or without opening a medicine marketing company and their pros and cons?

There are two most common way for starting medicine marketing: One is by opening medicine marketing company and second is by taking pharma franchise and start medicine marketing.

Query Regarding Pharma Marketing:

Sir Can you please make a video on how to do medicine marketing with or without opening a marketing company and their pros and cons

Response:

There are two common way for stating medicine marketing. Medicine marketing can be started by setting up medicine marketing company and by taking franchise of Medicine Company.

In case of medicine marketing by setting up marketing company, you also have two options. Either you take your own wholesale drug license or use drug license of Distributor or wholesaler. Same applies in case of franchise marketing, you can take own wholesale drug license or billed medicines by appointing pharmaceutical distributor or wholesaler.

Starting a medicine Marketing:

If you want to start medicine marketing by opening a medicine marketing company then you have following options:

1. Take own drug license with the name from which you want to set-up marketing company. Apply for drug license. Company registration is optional. You can register you firm under company act or can avoid it. or
2. Register your company under company act and tie-up with a distributor or wholesaler for receiving, billing, dispatching and stocking of medicines.

If you want to start medicine marketing without opening a medicine marketing company then you have following options:

1. Take a franchise of Medicine Company and start marketing of products at monopoly basis. Or
2. Proceed through unethical way practiced by many persons. Don’t take wholesale drug license by name of medicine company you want to start or don’t register your company under company act. Only choose a name for marketed by address which doesn’t have any proof, place, firm name, wholesale drug license firm name etc. And use this name as a marketed by address for getting manufactured your products at third party manufacturing basis. Use wholesale drug license of other firm or appoint pharmaceutical distributor/wholesaler.

You can choose either of above options to start medicine marketing with or without opening a medicine marketing company.

Pros and Cons:

Now come to the pros and cons of starting medicine marketing with or without medicine marketing company.

With starting medicine marketing company:

Pros:

• All legal rights reserved to you i.e. company name, brand names, branding, promotion etc
• You are free to market or promote your company as per your wish irrespective of territory, doctors, chemists, distributors etc.
• You can expand it to at any level i.e. throughout India, export to other countries etc
• Freedom to fix MRP, PTR, PTS and trade rates

Cons:

• Time consuming process and requires lot of investment as quantity manufactured through third party manufacturing or contract manufacturing will be huge as compare to demand of product in starting.
• Number of products you could launch will be limited, depend at fund you have in starting, so you have to work with limited product range.

Without Starting Medicine Marketing Company (Franchise Marketing):

Pros:

• Less investment and easy to start with readymade products range
• You will have a large product range and freedom to work with as numbers of products as company has in his product list. You can purchase quantity like 5 box, 10 box, 50 pc etc to keep range to yourself and start medicine marketing

Cons:

• You will have marketing rights only in territory assign to you. You will not have any legal rights related to brand names, company name etc and these will be belonging to company that you have started with.
• You will have only territory, area, district or state to expand where you have marketing rights. You can’t expand to other territories if company already have distributor there. For expanding either you have to take another company franchise or have to launch your own brands.
• You have to work with already available MRP except you have good quantity of product, you want to purchase
• If your company selection wasn’t right, after some time company can also appoint another distributor in your assigned area.

Pro and Cons of second option discussed in starting medicine marketing without opening a medicine marketing company will be same as we have discussed in pros and cons of starting medicine marketing company.

Conclusion:

Best way to start medicine marketing is to take franchise of Medicine Company for completing product range and introduced your products one by one when you find it easy to launch and promote.

Hope above information is helpful to you…
For any query and suggestion, mail us at pharmafranchiseehelp@gmail.com