Pharma sector: List of things to avoid at all costs - PowerPoint PPT Presentation

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Pharma sector: List of things to avoid at all costs

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Here are generally, as a pharma franchise, you have to aim at maximizing your profit and your strength wants to make use of a variety of strategies like building agreement with the doctor, using multiple brands at the same time, and concentrating on some for increasing your profit. – PowerPoint PPT presentation

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Date added: 22 July 2020
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Title: Pharma sector: List of things to avoid at all costs


1
What Not to Do as a Franchisee of
Pharma Companies?
2
  • Congratulations on becoming a franchisee of a
    pharma company! While you have a list of things
    that you would do as a franchisee and there are a
    lot of people with tips on how to be a good
    franchisee, there are a lot of things that you
    should not do. Here is a list of things that you
    should avoid doing at any cost because this can
    cost you big time.

3
Loss of Licenses
  • When you become a franchise for a pharma company,
    you are required to have a certain type of
    licenses to distribute or market a particular
    product. You need to make sure that your license
    does not get expired during your tenure. This can
    result in termination of

4
Misuse Benefits
  • Some pharma companies offer a lot of benefits
    like promotional material, continuous stock and
    supply, etc. It is unethical to misuse these
    items which are meant for promoting the company.
    It is best to not mix personal and professional
    interests.

5
Misrepresent Revenues
  • You might have franchise of pharma companies
    which are big and would not have micromanagement
    to keep stock of the situation at the grass root
    level. But, the fact is that misrepresenting
    information breaches the contract that a
    franchisee and a franchisor enter.

6
Conflicting Vested Interest
  • Each company big or small has some interest,
    opinions, standards, etc. and a franchise is
    required to abide by the franchisors interest.
    If as a franchisee, your interests conflict with
    that of the franchisor then you are in trouble.
    It is best to do a thorough research before
    entering into a contract.

7
Violate the Explicitly Stated Terms
  • When you become a pharma franchise company, you
    have to adhere to some terms and conditions.
    These include having some kind of an arrangement
    to market the product or something along these
    lines. Try to keep up to the terms and conditions
    that you have mutually agreed upon.

8
Overlook Ethics
  • This point does not only apply to pharma
    franchise but every professional dealing. If you
    think that the product can be harmful for any
    person then do not market or promote that product
    for petty profit. Human life is more valuable
    than a margin of a few bucks.

9
  • As a pharma franchise, you have to aim at
    maximizing your profit and you might want to make
    use of a variety of strategies like building
    rapport with the doctor, using multiple brands at
    the same time and focus on some for increasing
    your profit. While each of these strategies works
    well in a respective territory, you have to be
    sure that the strategy you follow does not
    coincide with your interest. At the same time, be
    mindful of your competition. If possible, opt for
    monopoly type of franchise that will reap you
    great benefits with considerably less efforts. At
    the end, all businesses have ups and downs.
    Remember to learn from your mistakes and take
    feedback. Evolve to be a better business partner
    and a better franchise.

10
Phone 079-26934080Cell 91 9033028080,
8469228080Fax 079-40080800
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Antilia,Prahlad Nagar,Ahmedabad-380015Gujarat,
India
www.fitwelpharma.com
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