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INTRODUCTION
1
Introduction to Retail competition
Drug stores have evolved from places in which medications were extemporaneously
compounded, and patent medication and health related sundries could be purchased, to
diverse retail pharmacies. The diversity runs from the small shop to the large shop.There is
little doubt that the community pharmacy is a special case among retailers. The pharmacy is
presently undergoing what sociologists refer to as the “professionalization” process. In its
efforts to attain full status among other health profession.Efforts have been made to trade the
term “retail druggist” for “community pharmacist”. High Performance Retail is a network of
seasoned professionals. experienced in leading change, revitalizing businesses and improving
the performance of retail enterprises. We offer consulting, interim executive, performance
improvement and training services. We can help you implement and execute proven best
practices to achieve significant and sustainable increases in sales and bottom line profits,
accompanied by aligned, positive and committed people, and exceptionally satisfied and loyal
customers.
We work from a very strong point of view - with words like product driven, customer
obsession and empowering your front most and customer facing associates for great
performance!We work very directly and on 'the inside' with a 'hands-on' approach to facilitate
learning, immediate knowledge transfer, and immediate impact on performance.We create
experiences - learning experiences for your people that result in very positive and memorable
experiences for your customers.We have many years of experience leading retail enterprises
to breakthroughs in performance.
We have deep knowledge in all aspects of retail operations and finance, and of the best
practices for retailing today. Our High Performance Retail approach and processes deliver
significant and sustainable improvements in performance.
Fortunately, or unfortunately, you and your enterprise are either on an upwards spiral of
growth, pride and success, or on a downwards spiral of frustration, mediocrity and
insignificance. There is no middle ground. Your enterprise is either growing or dying. You
are either winning or losing in relation to your criteria for success.
Having a competitive strategy means having a crystal clear focus of exactly what your
organization must execute to compete effectively and win. It is beyond 'visioning' and
'missioning' and beyond words, platitudes, and the 'flavour of the week.' It is about "strategic
intent,' having a winning business model, and having 'the plan' - the 'answer' that is uniquely
'right' for you and your specific circumstances. It is also about 'making it so' and making it
real. And when you get the ingredients right - your 'plan' will unfold magically, beyond your
expectations.
2
We can help you develop or refine your business model and the 'plan' - through conversations
with you, conversations with your senior management and a reality check with your front
line. We can then help you engage and energize your enterprise to 'make it so.The preferred
approach is to work with you in a senior line management role to refine and clarify the "plan,"
and then align communications, training, compensation and performance management
systems, remove blockages, and coach and recruit as required to ensure your strategic
priorities are executed with precision. You will experience a self reinforcing upwards spiral
of success and will win.
Through an alliance with a 'best-in-class" partner we can also offer several very unique
"interventions" that can help you and your team confront your competitive reality and
develop your unique response. The Pre-emptive Turnaround, Corporate Renewal and Post
Acquisition Due Diligence processes involve a confidential internet based survey of your
executive team, expanded management team, organization sample or full organization with a
one to two day debriefing of the results. The processes provide a very powerful 'reality check'
and are the catalysts for revitalization and growth is about the implementation and execution
of proven best practices for breakthroughs in performance, where breakthroughs in
performance are defined as: significant and sustainable increases in sales and bottom line
profits; accompanied by aligned, positive and committed people; and exceptionally satisfied
and loyal customers.
3
CHAPTER-2
4
Component of retail competition:-
• Location
• Price
• Buying
• Personnel
• Promotion
Location:-
The location of a community pharmacy may be critical factor to its survival. A number of
studies of consumer preference have shown convenience to be an important factor in the
selection pharmacy.The pharmacist is at the mercy of the same type of directed demand as the
drug manufacturer.
Price:-
After the location has been chosen the price policy must be determined. For an independently
owned operation some of the same factors considered as when selecting the location must be
brought in once again to help determine the price policy. A neighbourhood with a heavier
density of senior citizens may be more prescription price-conscious than a younger mix, but
the later may be more responsive to lower prices for house hold needs, suchas disposable
diapers,.
5
Chain store have generally built their reputation on a low price image, and need only to
continue advertising and promotional activity to maintain this image. Independents with
lower prices must advertise this in order to gain advantage for themselves because of their
pricing policy. low prices without advertising will take too long to create the desired
impression in the shoppers mind.
Usually the cost of lowering pricing also means that some cutbacks in other competitive
activities will be necessary. Today patients are more product conscious. also they are more
aware of the legal requirements that the product name appear on the prescription label and the
prescription prices be posted. The operator who advertises the saving available through the
use of generic drug also makes an impression on market place.
The most promising system is a combination of these two. All cost factor other than
professional services are boiled down to a percentage mark up,and then fee based on the
service provided is added .the matter of pricing for certain population segment , such as
senior citizen and pricing for a prepaid subscriber copayment plan for prescriptions covered
by insurance can not be over looked.
Promotion:-
Promotion of pharmaceutical services at the community level cant be entirely divorced from
price of consideration, because many larger retailers use price as the central theme in their
promotion. most promotion at the retail level is conducted through radio, TV and local news
paper. Other media include direct mail, door to door circular, package suffers. The
promotional budget for average American pharmacy has been about 1.5% of sales. A
pharmacy with a sales of $200,000 a year might thus expend $3000 on promotion. It has been
stated that news paper, circular is probably the most frequently used medium for retail
pharmacies advertising.
The use of radio spots can be an effective means of promotion for the community pharmacist
if they are properly conceived and presented.
Other promotional techniques frequently used by chain versus chain independent advertisers
include the following:
1- Coupons good for reduction from the regular price of a new prescription.
6
4- Less tangible give-aways, such as poison antidote charts, health-related literature,
poison-proofing the home.
Buying:-
Buying really means selling---buyers purchase merchandise for sales, and prudent buyer
purchase only enough merchandise to ensure maximum turnover. Sound inventory
management creates success in a pharmacy whether it is large or small pharmacy. Buying
occument is another differential advantage that is related to price. Low prices are not possible
for long unless the pharmacist has bought the drug at a price that is to the pharmacies
advantages.
The pharmacist with a keen marketing and professional mind seldom has to delay filling a
prescription because the drug is not in stock. This assumes that he has a thorough knowledge
of professional community in the area, and also is familiar enough with current
pharmaceutical literature to know the characteristics of new product as they are introduced.
The problem associated with stocking an independent pharmacy represent only a fraction of
problems associated with stocking a small, medium, or large chain.
Personnel:-
Selection, training, and retention of satisfactory personnel is vital to the success of the
community pharmacy. The process can be divided in to categories, including recruitment,
training placement, and motivation. regardless of the size of the pharmacy , the employer
must seeks out source of employees, establish a training programme, match the talent and
attitude of the employees to the job assignment, and establish programme to motivate and
retain those employees who can contribute to a successful operation.
The selection of personnel to provide service is potentially the greatest competitive weapon.
the consumer survey have shown the services pharmacies to be important to them but not
uniformly so.
The marketing rationale behind any service depends on its ability to ensure repeated
patronage by the costumer and member of his family. Pharmacists are currently reviewing
new types of services that actually preferable from both the professional and marketing view
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point. the services with the most potential at this time seems to be the maintenance of record
of a family health. Chain and many independent pharmacies have installed on line “stand
alone” data retention and processing system.on line system are connected via phone lines to a
remote computer on which patient records are stored along with the other data, such as drug
movement, third-party billing, and reconcillation.
Another service that offers a tremendous competitive advantage is the 24- hour service
pharmacy. Maintaining a 24 hour pharmacy cant always be cost justified but, in an urban
area, a limited no. Of such stores will attract much support. Many chains and large
independent have used the 24 hour pharmacy.
CHAPTER – 3
Ghaziabad profile
8
Ghaziabad profile:-
1-Ghaziabad
2-Vasundhara
3-Vaishali
4-Indrapuram
5-Shahibabad
6-Loni
7-Dasna
8-Dadri (NTPC)
9
Monthly turnover of medical shop in Ghaziabad:-
10
12- Shri Sai Homeo Pharmacy 1,50,000 Sahibabad, Gzb
Some data have not been audited yet. Bayer has additional revenue not included here. The
missing parts of the table will be added as more data are released by the companies. The
comparable revenues in US Dollars were calculated using the average exchange rates in 2009.
11
The following is a list of the twelve largest pharmaceutical companies ranked by
revenue as of July 2009 in the Fortune Global 500.
12
The following is a list of the 49 largest companies involved in pharmaceutical
and biotech industry ranked by healthcare revenue as of 2008. Some companies
(eg, Johnson and Johnson and Bayer) have additional revenue included here.
Pfizer[28] (with
1 U.S. 70,696 14,111 137,12
Wyeth[29])
2 Johnson & Johnson U.S. 63,747 10,576 119,20
13
21 Novo Nordisk Denmark 9,081 1,922 26,57
14
47 Mylan Laboratories U.S. 1,612 217 2,80
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s.no Company name
4- Torrent pharma
5- Intas pharma
6- Mankind healthcare
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CHAPTER – 04
1- Ganpati medicos
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Vaishali Sector 4, Ghaziabad
2- Guardian pharmacy
Vaishali Sector 4, Ghaziabad
3- Take Care Medicos
Sahibabad, Ghaziabad
5- Ramson Medicos
Sahibabad, Ghaziabad
6- New Prem Medical Store
Sahibabad, Ghaziabad
7- Shri Sai Homeo Pharmacy
Sahibabad, Ghaziabad
8- Kanshambi Chemist
Vasundhara, Ghaziabad
9- Devi Shree Medicos
Vasundhara, Ghaziabad
10-Sharma Medical Store
Bhopura, Ghaziabad
Kanshambi, Ghaziabad
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15-HSV Pharma India
Kanshambi Ghaziabad
16-Shree Sai Medicos
Ghaziabad
17-Kanshambi Chemist
Vasundhara, Ghaziabad
18-Tatva Marketing and Services Private Lim...
Vasundhara, Ghaziabad
19-Sharma Medical Store
Ram Puri,
21- Sharma medical store
Rajnagar, Ghaziabad
22- Chaudhary medical store
Rajnagar, Ghaziabad
23- Anil medical store
Sanjay nagar, Ghaziabad
24- Sangeeta medical store
Rajnagar Ghaziabad
25- Balaji medical store
Rajnagar Ghaziabad.
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CHAPTER-05
20
Marketing strategy for pharmaceutical product
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A. strategic thinking
B. competitiveness
C. innovation
D. execution
E. critical thinking
F. positioning
J. Market research
23
2-To maintain variety of product
IMAGINE walking into a one-stop shop for all your healthcare needs. Going by an ORG-
Marg study on the emerging scenario of pharma retailing in the country, small chemists
are likely to close shop with the emergence of big retail pharma chains promoted by
pharma companies themselves, thereby marking the end of unorganised pharma retailing
in the country. Considering that pharma retailing is clubbed with fast-moving consumer
goods (FMCG) retailing in most cases, smaller chemists will end up selling just FMCG or
OTC products and exiting as pharma stockists in the near future. Pharma retailing will
become the prerogative of big retailing chains such as Medicine Shoppe or Apollo,
according to an ORG-Marg study titled `Retail Chains — the emerging scenario'.
Explains Mr Pandya "The future trade channel will evolve in such a way that there will
be value migration from suppliers to retailers, the reason being the proximity retailers
will have with the end customer. As the role of the intermediary diminishes, retailers will
become stronger in their negotiating powers than manufacturers and the only way for
companies to keep this bargaining power is to enter into retailing themselves."
The retailing study outlines some of the benefits of these retail chains to companies. Due
to the co-promotion with the retail chains, there will be increase in sales and a build-up of
a long-term relationship with the consumer. There will be efficient supply chain
management due to tight inventory control or self-warehousing.
Computerised operations will ensure efficient flow of information. Besides due to the
centralised purchases and back-end support, there is a rare chance of spurious medicines
trickling down to the shelves.
As for the retailers themselves, due to the computerised operations there will be less or
negligible loss due to expiry and stock outs.24
The promotion and advertising will be taken
care of by a master franchise. The value-added services from the companies in the form
of free camps would help in building a loyal customer base. Due to the back-end support
provided by the master franchisee controlled inventory, there would be better margins
• It’s very necessary to maintain variety of product to satisfy the costumer.
• You will rapport good relationship with the costumer by providing the best service.
• You will increase your sales by maintaining or arranging the product.
• All type of product, you should have stored that the patient want.
• All the products like health care, nutrition, FMCG, should also be stored in the
medical shop.
• If the product is not available in the medical shop then it’s the responsibility to
arrange the product by neighbouring medical shop.
• You should stored that product especially which is written by the doctor.
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3-The Importance of Calling on the Retail Pharmacist in Today’s Managed
Care Environment
Until recently, pharmaceutical sales efforts have been directed almost exclusively at the
prescribing physician. However, with the advent of managed care, it is very clear that
influencing physicians’ prescribing behavior is simply not enough to guarantee greater
utilization for your company’s product. Oftentimes, managed care organizations (MCOs)
override a product the physician may have prescribed for a patient and replace it with another
at the point of sale, thus overturning all of your sales efforts in the doctor’s office.
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4-Target High Volume Pharmacies
Health Plans and Pharmacy Benefit Management (PBM) companies usually have drug
purchasing contracts in place with high volume retail pharmacy chains and co-ops that are
responsible for dispensing pharmaceutical products at the consumer level. The health plans
and PBMs are often able to negotiate volume discounts with these drug retailers based upon
the high number of prescriptions that they collectively dispense on behalf of the health plan or
its PBM. For this reason, you should put time and effort into establishing relationships with
the pharmacists in busy retail outlets because this is
where most prescriptions are filled. Find out where
the busiest overworked and have a limited amount
of time to see sales representatives. In fact, most
work overtime during store hours on a regular basis
and must come in early before opening or stay late
after closing just to keep pace with the flow of
prescriptions that must be filled during the average
workweek. Being aware of the time constraints of
the typical community pharmacist, it is imperative
that you do effective pre-call planning so that your
face-to-face time is well spent. Be certain to have
copies available of the latest clinical studies and
FDA prescribing information sheets for your
products as leave-behinds along with appropriate
patient education materials, as pharmacists should
be detailed the same way that you would a
physician. Pens, writing tablets, Post-It® Notes, and other company-approved reminder items
are also good to leave behind, but clinical papers and marketing pieces that outline the safety,
efficacy, and benefits of your products should always be considered the leave-behinds of
highest importance.
When calling on a pharmacy for the first time, the first thing you need to do is gather basic
information about the store’s operating schedule to ensure that your future visits are pleasant,
productive, and convenient for all who will be participating in the product discussions.
27
The 5 most important things you’ll want to find out initially are:
28
By being a valuable drug information resource for pharmacists, you help them to do their job
better by serving their patients more effectively. Treat the pharmacy call exactly as you would
a physician call. Present the features and benefits of your product so pharmacists can
recommend your brand when it is an appropriate drug therapy. Alert them to any new
labeling changes or indications for your product, share new studies with them as well as any
company-approved support materials you may have, and explain to them how your product
compares favorably to the competition. Whenever possible, show how your product can
reduce the total cost of care by eliminating the need for additional office visits, lab work,
tests, and other expensive healthcare services, and support these claims with
pharmacoeconomic outcomes studies if they are available. When calling on pharmacists, treat
them as sophisticated healthcare professionals and a partner in providing appropriate drug
therapy for the hundreds of patients that come through their doors each day.
29
Pharmacists are receptive to receiving patient education materials so they can counsel
customers on the value of your products. When you have programs in place to support the use
of your drugs, or have disease state management programs available, make sure pharmacists
are aware of them so they can supply them to appropriate patients. When you are able to
secure time with the head pharmacist and the pharmacy staff, schedule in-service breakfasts
or luncheons where you can provide in-depth information about your products. By providing
these added benefits, you will help increase patient compliance and persistency and help
pharmacists perform their jobs more effectively.
Continuing education (CE) accredited programs are another resource you may provide for
pharmacists. Pharmacists must earn a certain amount of CE credits every year to maintain
their professional licenses, so capitalize on the value of these programs whenever they are
offered by your company.
Sales Tips
The First Call
• Dosage
• Indications
• Side effect profile
• Comparisons to the competition
• Labeling changes
• New studies and clinical information
Pharmacists can also provide you with important feedback as to what the competition is doing
from a marketing perspective, what their sales message is, and what impact other brands are
making within your territory. This information will allow you to adjust yourphysician
presentations accordingly and thus sell more effectively.
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should concentrate on innovative alternatives which will allow them to compete in an
evolving health care system.
CHAPTER-06
QUESTIONER
32
QUESTIONER
33
8- Should the medical shop present near to the hospital?
10- Are the pharmaceutical companies playing any role in retail competition?
CHAPTER-07
METHODOLOGY OF SURVEY
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METHODOLOGY OF SURVEY
COLLEGE OF PHARMACY
l. I. L. M. – Academy of Higher
Learning,
18, knowledge park 2nd, Greater NOIDA
G.B.Nagar (U.P.)
35
NAME OF ORGANIZATION: -
ADD:-.
PHONE NO:-
EMAIL ID:-
DATE OF ESTD:-
TIMING:-
CONTACT PERSON:-
DETAILS:-
1. VARIETY OF PRODUCT
2. MONEY REFUND OFFER
3. DISCOUNT OFFER
4. RESPECT TO EVERY ONE
5. KEEP TOUCH WITH THE DOCTOR
6. CREDIT FASCILITY
DATE…
SIGNATURE……
CHAPTER-08
SUMMARY
36
SUMMARY
• During the study, it was found that the Competitive strategy in retail
competition was enough good.
37
And there were lot of facilities provided by the competitor like Apollo
pharmacy, Guardian pharmacy and Religare pharmacy.
• They also provide the original bill with medicine for further query and the
reliability.
24-hour service
Friendly pharmacist
Helpline services
38
CHAPTER-09
CONCLUSION
39
CONCLUSION
This study has proposed that store name, brand name, price discounts and professional
pharmacist service affect the net sales in pharma with the help of retail competition.The
success of identifying competitive advantages in pharmaceutical retail industry is critical to
managing price strategies, brand equity, customer service and company’s profitability.
40
CHAPTER-10
RESULT
41
RESULT:-
Retail competition is the key which increases the sales of product by
following various strategies an grow along with the pharmaceutical
company.
Hypotensive drug.
42
ANTIFUNGAL DRUG
(IN CRS)
PRICING SCENARIO:-
44
BRAND COMPANY PRICE (RS)
45
SR NO BRAND COMPANY MAT VALUE
(IN CR)
1 RABLET LUPIN 10.60
PRICING SCENARIO:-
46
BRAND COMPANY PRICE(RS)
References:-
1-Kaur, 2007.
Business e-Bulletin
47
Vol. 1, Issue 1, 2009, 49-54
2-www.apollopharmacy.in.
3 www.guardianlifecare.com.
4 www.goforads.com.
5-www.dialforhealth.net/home.asp.
6-www.google.com.
7-drugtiger.com.
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