How to Find The History of a PCD Pharmaceutical Company Before Joining Hands
There are many retailers who want to set up a store for selling drugs but they lack information regarding how to go about it. For such retailers, starting with contacting a PCD pharmaceutical company for their monopoly rights is a good option.
What are PCD pharmaceutical companies?
PCD stands for Propaganda Cum Distribution. Such organizations manufacture medicinal products and sign up distributors to market and promote their products. They supply curative drugs at net prices to the retailers and distributors who possess monopoly rights for a particular area to market the company's products. It can be an individual or a whole pharmaceutical franchise company who performs the marketing part for the producer firm.
Drug manufacturing firms may differ from each other in the following ways:
While some companies have fixed sales targets to achieve, others look for regular sales in a particular area.
Some manufacturers provide promotional material while others expect the pharmaceutical franchise company to develop their own material as per their marketing strategies.
It is the company's choice whether they will pay the marketers in advance or they will look at the results of their marketing campaign before making any payment.
For a retailer or a franchisee, it is very important to choose a drug manufacturing brand wisely before offering them their marketing services.
How to find the history of a drugs producer firm:
The entire information database for a drugs producer can be divided into two categories:
- External information
- Internal information
While the external information can be easily found, the internal information can only be found while working for the company. External information would include the company name, year of establishment, areas they serve, company owner/s, their divisions, number of employees, annual turnover and alike. When a vendor or a retailer becomes a part of the firm, only then will he be able to find the internal information which includes stock availability, marketing strategies which they follow and promotional material that they provide. Such information is otherwise kept confidential under all circumstances. Whether they are producing all the products at regular basis and they are capable of meeting the demand can only be determined when they are asked for supplying the same.
So it can be said that like any other business, this one also involves a certain amount of risk factor and requires trust. It is the flair of the retailer or the marketer to extract as much information about the producer as he can. To play safe, certain clauses can be discussed before joining hands such as the system of setting targets that they follow, term of service bond, marketing material they provide and other terms and conditions. Having a fair knowledge of these will be helpful in choosing a brand.
Due to wrong choice of company, marketers are affected in three ways:
- They face financial loss
- Their relationships with medical practitioners are hampered
- They lose their market credibility
Rather than facing such loss, it is better to explore more about the PCD pharmaceutical company initially.
