Top Ten Failure reasons in Pharma Franchise Marketing?
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Here are the latest 2018 updated list of Top Ten Failure Reasons in Pharma Franchise Marketing. Amongst several aspects of the pharmaceutical business, the pharma franchise is known as a profitable one. If you see the statistics, then most of the companies that launch pharma franchise marketing business seem to be doing well.
Top Ten Failure reasons in Pharma Franchise Marketing?
- 1. Top Ten Failure reasons in Pharma Franchise Marketing?
- 2. REASONS FOR PHARMA FRANCHISE MARKETING FAILURE ? Amongst several aspects of the pharmaceutical business, the pharma franchise is known as a profitable one. ? However, statistics indicate something different. If you see the statistics, then most of the companies that launch pharma franchise marketing business seem to be doing well. ? What could be the reason behind it? What makes it to happen? Here are some probable reasons. 1. A company that doesn¨t have a business-oriented approach ? If a company enters the business with a big bang but doesn¨t have a vision and business-oriented approach, then it is bound to fail. ? The entrepreneur should be ready with business targets and expansion plan on the very first day. ? Companies that don¨t survive don¨t have a specific objective either.
- 3. REASONS FOR PHARMA FRANCHISE MARKETING FAILURE
- 4. 2. Lack of initiative If a franchise company decides to follow the path of its competitor, then it will undoubtedly fail. Instead, it should take the initiative and find out a new way. It is a daunting task indeed, but only those wins who don¨t dare taking risks. 3. No innovation In the highly competitive market today, it is impossible to survive without research and innovation. All successful businesses keep on refining the business strategy. 4. Shortage of funds Sometimes, a business fails because of not a lack of funds but improper utilization. It puts the business at the setback. 5. Unprofessional approach Experts say that if the approach of the company is not professional, it is very likely to fail. The service levels go down, and eventually the business closes.
- 5. 6. Dissatisfied customers If customers are not happy with the business, then nothing can stop it from going down. In a pharma franchise business, it is imperative to keep the customers engaged. The motive of the company should be profit, but not at the cost of losing customers. 7. Not updating according to the market trends Most of the pharma franchise business deal in products that are in the product list of all companies. Hence, if there are no efforts to update the product list, then the customers switch to other company if they get good deals. 8. Market reaches saturation point If a company starts playing safe after reaching a specific level, then it becomes saturated. It avoids the risk factors and gets stagnated. 9. No expansion plans A business must have precise expansion planning. It is important to achieve a big brand value along with big business size.
- 6. 10. Good work culture If a business doesn¨t offer a healthy work culture, then employee turnover is high. There is no consistency in the quality of work. It hampers the business performance. If you are looking for PCD Pharma Companies in India then Progressive Life Care is a Top PCD Pharma Company in Ahmedabad located in Gujarat. Which offer a Pharmaceutical franchise with extra ordinary marketing support. ? Also Read: ? How to Start Pharmaceutical Marketing Company? ? How Many Types of Marketing Strategies in Pharma Sector?
- 7. ? CONTACT INFO & DETAILS ? Working hours: 11.00 am to 6.00 pm ? Working days: Mon C Sat and Sunday Closed ? Mob:-9824382041, 9825965521 ? Phone:- (079) 30243328 ? E-mail:- progressivelifecare@gmail.com ? E-mail:- progressivelifecare@yahoo.com ? Address ? AMBIT HOUSE, Opp.Kumar Spintex factory, ? Tajpur Road, Changoder, ? Ahmedabad C 382213 (Guj.) INDIA. Website :- www.progressivelifecare.com