The role of franchise companies in distributing and promoting nasal sprays in the pharmaceutical industry

The role of franchise companies in distributing and promoting nasal sprays in the pharmaceutical industry - PCD pharma franchise is a popular business strategy in India. There is a huge demand for respiratory products including nasal sprays, inhalers, etc. in India due to rising pollution, and population. Many companies deal in PCD pharma franchises in India for respiratory products. However, here we are going to discuss the topic “the role of franchise companies in distributing and promoting nasal sprays in the pharmaceutical industry”.

In the PCD pharma franchise, there are two kinds of parties, one is the supplier and the other is the seller. The basic model of the PCD pharma franchise is to generate profit and provide exclusive monopoly rights to the franchise holders. However, the main responsibility of a supplier is an investment, maintaining inventories, advocacy programs, labeling, and marketing. Whereas the main responsibility of a distributor is to maintain customer relationships, invest in the market, brand audit, etc. 

Demand for Nasal Spray in India | An Overview 

Nasal sprays have been used for treating colds, congestion, runny nose, and so on. There are different kinds of nasal sprays available in the market including steroid nasal sprays, saline nasal sprays, and topical decongestants. The value of the global market of nasal spray is approximately USD 22,725 million and the value is expected to increase to USD 40, 000 million.  Also, there is a different factor that plays an important role in the rising demand for nasal sprays in India. 

1. Change in lifestyle and increasing healthcare expenditure.
2. More than 30% of the population suffers from allergies.
3. Easy to use and affordable nasal spray range.
4. Surging air pollution in India. 

What are the different kinds of PCD pharma distributors?

The major role of a pharmaceutical company is to make a sale and capture the market. For this, PCD pharma franchise distributorship has two different strategies-

• Single-Party PCD Distributors - In this, the distributors buy medicines directly from the company. There is a small area such as a district, territory, etc. but there is a high margin. There is no mandatory requirement for a drug license. 
• Multiple-Party PCD Distributors - When a PCD distributor makes a purchase from the company and then has its own franchise/distributor for further distribution. This strategy is usually applied by the big pharma companies' distributors. These franchises are responsible for the sales and promotion of the bigger area. However, the profit margin is low and requires a drug license. 

The role of franchise companies in distributing and promoting nasal sprays in the pharmaceutical industry 

Here is the list of all roles and responsibilities a PCD pharma franchise distributor plays-

• Generating a Prescription - The major objective of a PCD pharma franchise is to generate sales revenue or profit. So, to do this generating a prescription responsibility is performed by a PCD distributor. A distributor visits the doctors, chemists, and stockists to collect the prescription by applying promotional and marketing strategies. This includes samples, literature, etc. 
• Resolving the Issue - A PCD distributor plays an important task in resolving the issue by continuously working with doctors from different specialties. It is continuous feedback collecting from the doctors and resolving the issue in a definite period. It is very crucial to maintain healthy relationships with doctors/chemists. 
• Market Intelligence - For any business, it is important to have knowledge and information regarding the market’s trends. A PCD distributor selects the right product for promotion by studying the competition and marketing strategy. There are different tools used for collecting valuable information including promotional strategies of the competitors, products list, brand audits, stocking patterns of chemists, and many more. 
• Communication - Maintaining communication with the doctors and chemists is one of the major responsibilities of a PCD pharma distributor. There should be written communication for the official channels. Otherwise, it will have a negative impact on the business. 
• Completing Business Objectives - It is important to make sure that we understand the primary objective of a PCD pharma franchise company. The PCD distributor always makes sure each decision is taken according to the company’s objective. 

Conclusion

At last, we hope you get all the information regarding “what is the role of franchise companies in distributing and promoting nasal sprays in the pharmaceutical industry”. However, if you want to invest in a nasal spray franchise, then reach out to Nutra Respiro!

Frequently Asked Questions (FAQs)

Question - How to acquire a PCD pharma franchise for the nasal spray range?

Answer - The procedure is quite simple. Contact the pharma company that deals in nasal sprays such as Nutra Respiro. There is a requirement for a drug license, TIN no., and GST No. 

Question - Is the PCD distributor business profitable?

Answer - Yes, the PCD distributor business is a lucrative business that offers great scope in the pharma industry of India.