Difference between PCD work and prescription work
When you want to launch a pharmaceutical business, there are two models to choose from; the PCD model and Prescription model. Let’s understand both in detail.
Prescription model
In the pharmaceutical business, the equation is pretty simple. The more prescriptions you generate, the bigger is the sales volume. The more sales you achieve, the more you earn.
Therefore, you need to put the maximum efforts in generating prescriptions. Companies use different strategies to grab the biggest chunk such as:
- Regular visits to clinics and hospitals
- Sponsoring seminars or conferences
- Gifts and other perks
- Commissions and cash rewards
- Schemes
Marketing plan and business strategy in prescription model
Experts say that business planning in the pharmaceutical sector doesn’t go in line with the conventional business model. The best strategy to sell a product is what you derive in your context.
Suppose you have a diversified mix of 20 products for prescription marketing model. In this case, you need a detailed analysis of each product.
Marketing is a mind game where you need to think differently, and you need to keep on implementing ideas that surpass others.
When you know everything about the product, its annual turnover, the turnover of competitive products, competition strategy and the specialty of doctors who can write prescriptions; it becomes easy to tackle the product.
You should also know about the uses, dosage, generation and substitute products. Also, you should gather sufficient information about the indications and complications.
Make sure you have a detailed product report plan so that you can resolve the queries or doubts raised by doctors. The information is helpful while training the medical representatives who are the backbone of Prescription model.
PCD Franchise-what does it mean?
PCD is the abbreviation of Propaganda Cum Distributors. In PCD, a pharmaceutical company grants the authorization of carrying out the proprietary knowledge, brand, trademark and other commercial activities to an individual or group or distributor.
These activities are assigned either on a monopoly basis or other mutually agreed terms and conditions. The process and procedure of assigning PCD Franchise vary from company to company.
Though most of the PCD franchise are provided district wise, zone wise or state wise franchise models are also quite popular.
If you are good in building marketing relationship and you possess a strong hold in the market, then PCD option is the best. It needs the minimum investment and has a lucrative future in the coming times.
Process to acquire PCD
It is possible to start a business using PCD model in less than 10000 rupees. If the pharmaceutical company you are connecting with doesn’t have any specific targets or minimum order requirements, then the things become further simple.
Wholesale drug license number and GST registration number are the only documents required for it.
PCD franchise is like starting your personal business. The more you work, the more it expands. Use of right promotional material boosts the business.
Experts believe that the PCD model is going to increase by leaps and bounds. It is easy to start and needs less investment. Hence, the future of PCD is bright.
Also You can Contact Us for Start Pharma Franchise Business in India
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