PCD companies can be defined as Propaganda cum distribution in the pharmaceutical industry. It’s a marketing term that both pharma companies and distributors support to take advantage of PCD opportunities. PCD is precisely a franchise which is allowed to be extended by a Pharma organization to another party, under which the trading can be done by using company’s name and products on a specified location and agreement terms. There are so many Indian Pharma PCD companies that you can find, and the business is expanding across borders.
The concept of PCD is new, yet its growth in the pharma industry is noticeable worldwide. These Propaganda cum distribution companies are also being compared to the pharma companies. But a major difference between the two is, PCD franchise are operated on a small scale while the pharma companies do not. Therefore, to identify and recognize which one is PCD franchises and which ones are pharma companies, you should be aware of the following points:
To verify the genuineness of a PCD pharma franchise, it is essential to go through a complete background check about the pharmaceutical company to confirm the dealings and activities are legitimate or not. Due to so many fraudulent cases, it is difficult to identify which sources are reliable as there are so many fake companies.
Also, please make sure before finalizing the decision, an opinion of stakeholders would be helpful. Therefore, you should discuss with them the company’s current position and know about the relevant insights that can help you in forming the right decision. In addition to this, talk to the customers, vendors, and employees of the company, to avoid any regrets later on. So, take time and consider all important aspects before reaching a conclusion.
The market position and reputation of a pharma company really matters while identifying the actual existence or cross-checking its market value. Goodwill is a characteristic which can make or break the situation. Whether the company is known for the right or wrong reasons defines its real impression in the market and to gauge that a lot of sources should be referred to conclude the result.
A renowned pharma franchise is known for the quality products that it offers. If somewhere down the line the required essentials are missing you can be sure that the company is not devoted towards working for good quality products. And it would be a deciding factor in evaluating the products are of good quality or not.
The last but not the lease would be profit margin, it’s an important point to consider as ultimately it’s about calculating the overall profit a company is generating. Higher profits would lead to growth and expansion of the company.
Some of the benefits of owning a franchise are as follows:
- A large product range
- Good quality products
- Reasonable prices
- High-quality packaging
- On-time product delivery
- The scope of new products
- Possibilities of sales promotion
- Monopolistic rights