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Continued from last……
Step – 2 Growth Plan:
- The first step is to promote the products to generate prescription and create a strong demand in the market.
- Try and win big tenders in the government and private hospitals, which are untouched or tenders have not been won so far.
- Emphasize more on bulk purchase areas. MSDs of all provinces, Army and departmental hospitals like WAPDA, PIA, State Bank etc.
- Obviously in all these sectors every company is active, nobody can leave them unattended, but still there is a room for extracting more business. Therefore, must identify, make inroads and capitalize on the opportunities, by increasing promotional as well as commercial activities. Keep looking for grey areas within the company and taking remedial measures.
- Get price increase. This gives value-wise growth.
- If currently operating in limited area e.g. only Lahore or one or two provinces. Then spread activity country wide.
- Find opportunities, if unexplored so far, like selling to the medical facilities for Afghan refugees or earthquake hit areas of Gilgit- Baltistan (still there is some rehabilitation work going on) and other calamity hit places.
- Exploring markets of Gilgit, Dasu, Pattan, Chillas, Hunza and Skardu may also be helpful. Company can operate by appointing stockiest there, selling on cash terms.
- Find new export markets especially Afghanistan. African, Latin American, Middle East and other Asian countries, which are potential markets for pharmaceutical products of Pakistan.
- It goes without saying that the company has to have a vibrant export department to tap this sector.
Crash/Special Promotion Project
- This activity is carried out for shorter durations. It gives dramatic results in rapidly increasing sales. The important components of such programs are listed as under:
- A group of possibly friendly and potential doctors/hospitals is selected for short period say two months for special promotion activity.
- Numbers of calls are increased in that specific period to these selected areas.
- Few (2-3) products are selected for this project.
- Special incentives are to be announced for this period and close follow up is to be maintained to ensure results and for motivating the field staff.
- To give incentives, an occasion/function is to be arranged.
- Activity both on promotion and institutional purchases is carried out.
- A close visit to the market by the field staff is undertaken to find out the impact of special project i.e. prescription flow.
- It is important to activate distributor(s) to ensure special visits in the areas of this crash program to pick demand from the market.
- Synchronize the activity with up-dated information acquired from the hospital/market/distribution about the results.
- Closely monitor the activities of competitors and formulate strategy to counter them wherever needed.
- Brief training/brush up programs to be held to ensure up-dating of the results of program, maintaining good level of product and market knowledge and command on commercial talk by the field staff.
- Regular meetings, with quick succession, to be held with the field staff and distributors to analyze the outcome and take immediate remedial measures wherever needed.
- High achievers to be applauded and appreciated by the management, in a well- arranged function/ceremony. At this occasion cheques, shields and certificates of appreciation are to be distributed.
- Such vibrant activities not only give dramatic results in special projects, but cast long term positive spillover impact, infuse motivation and spirit in the organization as a whole.
- It generates a healthy competition amongst the employees at every level, improves sense of belongingness and creates a congenial corporate culture which in turn results in perpetual progress and prosperity of the company.
- This program should be complemented by involving doctors to acknowledge their contribution in the success of the project. For example participation in their academic activities, present books useful for them and their students. Provide facility to publish any research paper by the doctor(s) in a renowned medical journal or magazine.
- Type of the acknowledging gesture could be discussed with the doctor(s) or their forum and get the idea from them.
- Contributing towards the academics, not only provide the company to meet the doctors frequently and develop personal relations, but earn respect as knowledge-based company. This has a great recall value and as such the company can get an extra-mileage in commercial terms.
- From the above mentioned activities under crash program, some points could be integrated in the general sales approach of the company as a part of their normal marketing philosophy and planning.
Sir. Not worthy enough to share in your blog. Suicide suggestions for the brand.