PCD pharma franchise is a business marketing strategy to expand the area of business at a particular place. It helps the pharma business companies to reach as many people as possible by giving distribution rights to individuals. It not just helps in expansion of the business but also increases the market sales of the pharma company.
Large-scale pharma companies depend largely on the propaganda cum distribution business strategy to increase their sales and reach the consumers nationwide and worldwide. But before going on with the distribution, the individual owning the franchise must select the appropriate location to work in the market.
It is a necessity because an individual can generate higher sales by choosing a smaller but suitable area rather than focusing on a larger target area in the market. The work of the individual in a franchise differs from that of a Medical Representation (MR) of a company. All the returns are levied upon by the individual in a franchise whereas the MR of a company doesn’t get any of it. The expenses in planning out the marketing strategies are also borne by the franchise holder in comparison to the MR whose expenses are borne by the company.
What are the things that need to be taken care of while selecting the right location for marketing –
It is utmost important for the individual to understand the fact that the area of marketing should be in direct reach of the franchise holder. It creates a greater impact on the sales as well as decreases the chances of poor revenue generation.
Here are some dos and don’ts while choosing the right marketing location for your Pharma PCD franchise –
- Select a smaller area that is under your direct reach and supervision.
- Choose wisely before setting up the distribution unit about the stockiest, chemist shops and target doctors in the target area.
- It is advised to go to the area with a higher degree of target doctors that can help your business grow.
- Work in an area that is familiar to you. It’ll reduce your time in setting up stronger connection and your business can get a faster push.
- Do not go for a larger marketing area, like 2 – 3 districts nearby. Even if you are well connected with the people at those places, there is a higher chance that they might take advantage of poor tracking.
- Since traveling expenses and transportation charges are borne by you, it is important that you don’t go to far-off places.
- Avoid choosing far-off places as it would cause delayed payments due to improper track of the accounts from the chemist. Also, it would lead to poor debts.
- Do not choose a stockiest that have knowledge limited to his stock point when you are working in a larger market area. His expertise will only help you in the nearby places and not the far ones.
- Do not delay in the delivery of the stocks. This can be ensured if you choose a location that is within the reach.