Key Strategies to Promote Your PCD Pharma Franchise Business in India
Every business owner has plans A, B or even C to take their company to tremendous success. However, execution is where founders and managers fail. Owning a business is easy, but the challenge is to manage it, lead it towards growth and flourishment and always gain a competitive edge. This is the scenario with businesses in every industry, including India's pharmaceutical companies.
Over the past two decades, Indian pharmaceutical companies have received global recognition because of Government support and initiatives. The industry is now amongst the largest in the world, both by volume and value. As of 2023, the sector was valued at approximately INR 3.5 trillion (USD 50 billion) and is expected to reach INR 5 trillion (USD 65 billion) by the end of 2024.
The PCD pharma franchise business is also significantly expanding within the healthcare sector. Through the PCD business, high-quality medications are readily available at affordable prices. With the help of robust manufacturing and a pool of skilled manufacturers and certified professionals, many PCD companies have come forward to offer a diverse range of potent medicines.
These factors have led to the development of the pharma industry in India. It is projected to grow at a compound annual growth rate (CAGR) of around 10-12% from 2024 to 2030.
Iscon Life Sciences Pvt. Ltd is the leading andbest PCD pharma franchise company in India. We have over 20+ years of industry experience, 1,000+ distributors, and 1 Lakh+ retailers. At Iscon, we manufacture and supply a wide range of effective medicines with the help of advanced German technology. We are able to supply our quality drugs in domestic as well as international markets through effective PCD marketing strategies.
What is a PCD Pharma Business?
The term PCD pharma stands for Propaganda cum Distribution in the pharmaceutical industry. It is a contractual agreement wherein the parent company (franchisor) provides exclusive distribution and selling rights of its products (drugs and medicines) to an individual or company (franchisee).
In a pharma franchise business model, the franchisor benefits from business expansion, sales, and market recognition. Conversely, the franchisee enjoys easy entry into the industry with limited capital, infrastructure, franchise set-up, and the franchisor's brand name and credibility.
However, every business needs to employ critical strategies to grow, drive sales, increase ROI, and avoid business stagnancy.
6 Strategies to Promote a PCD Pharma Business
If you want your PCD pharma business to flourish, the following are a few online and offline strategies you must incorporate:
Understanding Market Dynamics: Before implementing any sales strategies, it is essential to know the industry trends and market demands. Additionally, conducting a thorough competitor analysis aids in understanding your customers' preferences. You can then manufacture and supply those specific drugs and tablets accordingly. Apart from product study, also learn about the pricing strategies. Affordable and cost-effective prices will help you gain maximum advantage and boost sales.
Product Catalogue: With the rising competition in the PCD pharma franchise business, having a broad product category is beneficial to meet the health needs of a wide variety of consumers. For instance, at Iscon Life Sciences Pvt. Ltd, we have specialised and 100% genuine medicinal products such as antibiotics, anti-allergic, Vitamin supplements, anti-ulcer, ayurvedic, anti-malarial, injections, dental cosmetic products, gynaecological medicines, psychiatric drugs and more. We provide medications in the form of tablets, syrups, drops and soft capsules.
Networking: Through offline networking, we build strong professional relations with industry experts such as doctors, pharmacists, and healthcare providers through medical conferences and seminars. This helps with brand recognition and building professional ties.
Digital Marketing: It is imperative to build a robust digital marketing channel that incorporates SEO, Google Ads, Social media marketing, Content marketing and Email marketing to raise brand awareness and connect with the targeted audience.
Traditional Marketing: Offline marketing strategies will include printing newspaper ads, pamphlets, and magazines. You can also showcase your products at pharmaceutical exhibitions and trade shows. Promotions and discounts can also generate more sales for your pharmaceutical franchise business.
Customer-Centric Approach: Always offer services to regions with minimal competition and high demand for your medicines. This will help you gain customer trust, loyalty, and word-of-mouth referrals. Along with this, focus on manufacturing and supplying premium quality and safe medicines that are effective and meet health standards without leading to side effects.
Do you want to own a pharma franchise business? Connect with the best in the industry. We are an ISO 9001:2015 certified PCD pharmaceutical company.
