Not only in India but the pharma industry has been performing well worldwide. Especially in recent years, people have become increasingly health conscious and it is the reason medicines and healthcare products are in high demand.
But it does not make a difference whether you are running a pcd pharma company in india or you own a pharma manufacturing company, or your company is among the best performing pcd pharma company list, it is very much important to market the products well. Then only you can reach your customers well.
Some people prefer to get into the manufacturing process because they feel that it is a lucrative business model.
What are the key differences between a Pharma manufacturing company and a Pharma marketing company? Let’s understand it on the basis of various parameters.
Pharma Marketing Company vs Pharma Manufacturing Company
Number of clients
For a pharma manufacturing company, there are very few clients. Basically, they are the entities that contribute to the manufacturing process.
On the other hand, there are many clients in the case of a pharma marketing company. It is because here, the company has to interact with a long list of distribution channel partners and customers.
It will talk to various channel partners and expand the business. For example, from several companies, it will pick the best pcd pharma franchise company.
Process and operations
If the two business models, Pharma marketing company and Pharma manufacturing company are compared based on their operational process, then they are distinctly different.
A manufacturing unit makes products by using several formulations for pharma companies. It has to acknowledge the complete production process cycle, from beginning to end.
It is needless to say that it is a complex model where several departments work together in a coordinated manner, either under one roof or at distinct places if it is an outsourcing model.
A pharma marketing company, on the contrary, has to focus on only two things- one is the business promotion of the products, and the other is brand valuation. The challenge is to build an efficient network of people to market and promote products. When a marketing company goes through the list of a pcd pharma company product list, it chooses products based on its strength and reach to the market.
Level of competition
If you launch a manufacturing company, then you might feel that the level of competition is relatively less. It is because there are not hundreds or thousands of manufacturing companies competing in your segment. You are supposed to compete with other companies that make compositions similar to you.
But a pharma marketing company has to face fierce competition. It will have a large number of companies trying to sell similar products in the same marketplace.
Scale and profit margin
A manufacturing company has a higher turnover than a marketing company. Its profit earning is also higher.
A pharma marketing company works on a lower scale and its profit is also very less. So, to make higher profits, it has to play on a higher economy of scale.
Also Read:
Tips on Naming Your New Pharma Franchise Company
Is License Compulsory for Starting Pharmaceutical Business in India?