Difference Between Pharma Franchise and Pharma Marketing - PharmaBizConnect

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Indias first Online Pharma Exhibition
Topic of the Day
Difference Between Pharma Franchise And Pharma
Marketing
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Difference Between Pharma Franchise And Pharma
Marketing
There are two basic kind of strategy in
pharmaceutical industry to sell the
medicine/drugs or products in the market. One is
selling the products by company itself by
promoting their brand in the market. It is done
by team managed by the company itself. Other one
strategy of selling the products is, selling the
product by franchise companies or vendors. In
this process companies provide their franchise to
any individual or a group of people to sell the
products in market by providing them a certain
area on monopoly basis.
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Both strategies are good at their end. In both
margins is good. But in direct selling by
company, they have to manage a lot of things at
their own. In franchise based, they can give
access to multiple persons/companies to sell
their products. I this way company can expand
their business in multiple regions with fewer
efforts.
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Pharma Marketing by Company Directly
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1. They have to maintain everything at their own.
So they do not need to rely on others to sell
their products. They plan and execute all
marketing strategies as per their standards and
needs. 2. They can give access to anyone in
multiple areas to sell their medicines. 3. They
can promote their brand as per their needs. They
dont have any need to invest in such areas where
they are not getting the response.
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4. They build their own relationships with
doctors, hospitals and other concerned persons in
all areas. This helps them promote their brand as
per their standards and leads to expand their
business in every aspect including expansion to
their product categories. 5. They do not have
any need to do any legal formalities to do their
business in different areas. 6. They can manage
their marketing representatives as per their
requirement.
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Selling by Pharma Franchise Company
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1. Pharma Franchise Company can take monopoly
rights for their selected areas to sell
medicines/products. 2. They are sole owner of
their business. So they can run it as per their
convenience. 3. They can get help from company
in promoting the products in their area. So the
sales can increase with their efforts.
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4. They can give schemes to vendors as per their
promotional activities. 5. They can start this
business with fewer investments. They can take
franchise of any company where they can get the
best medicines with high quality and which can
give them high margins. 6. They can add as many
categories in their business by approaching
multiple companies to expand their business as
per market demands with fewer investments. 7.
They can manage the stock as per their
convenience and budget.
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