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23Oct 2018 by Reese Bannister

Comprehensive Essay on “Pharmaceutical Industry” in India

Indian pharmaceutical industry is divided into two categories as bulk drugs and formulations by its physical properties and marketing point of view ethical, generic and OTC and line of treatment the industry is further divided as Allopathic, Ayurveda, Homeopathy, Unani etc.In our context Allopathic is more relevant as it occupies more than 80% of market share. Furthermore Indian pharmaceutical sector has successfully crossed all phases from monopolistic phase to multi-brand phase to emerging market phase and now commoditisation phase stepping ahead to give a new shape for pharmaceutical marketing.It is observed that Infrastructure base of Indian pharmaceutical industry comprises of more than 3.9 lakhs allopathic practicing doctors with 15 thousands hospitals and 1.6 lakhs primary health centres and with a highest doctor chemist ratio of 2: 3 i.e. of around…

23Oct 2018 by Reese Bannister

Short Essay on Ayurveda

Lifestyle

Ayurveda is one of the oldest sciences of medicines whose origin can be dated back to 3000 -5000 years.Ayurveda is a method of holistic healing and is based on prevention rather than cure of the illness. The approach to healing is done on a personalized basis and people of all ages and following different occupations are known to have benefited both personally and spiritually owing to Ayurveda’s wisdom of healing. Image Source: rajasthaninfotourguide.com ADVERTISEMENTS: Ayurvedic medicines heal your spirit and minds instead of just treating the affected body parts. It is based on purification of the body in a natural way and the environment created helps remove all toxins and help regain body’s natural tolerance or resistance from the diseases and help rejuvenate your body and regain your good health.The…

23Oct 2018 by Reese Bannister

What is the Role of Medical Representative at Doctor, Chemist, Dealers and Social level?

Marketing

In pharmaceutical marketing strategies are implemented through medical representative in the thrust areas as doctors, chemists and dealers and society in general. Therefore it is necessary to analyze and interpret the views of medical representative towards the various marketing strategies framed by pharmaceutical companies and the difficulties faced by them.And understanding the complete system will help to improve the current system of strategy implementation through medical representative. 1. Doctor’s level: Survey confirms that personal relations and regular calls are equally important at doctor’s clinic level. Few of them emphasis on the fact that knowledge built and company inputs are also play a vital role but has its own limitations, as degree of acceptance copied by competitors is much high. It has also agreed by 70 percent of respondents that these…

23Oct 2018 by Reese Bannister

Evaluation of Sales Force Management in a Pharmaceutical Company

Industry

It is true that Evaluation of sales force management is widely considered as a strategic element in effective human resource management in pharmaceutical marketing.It has seen that pharmaceutical Companies has always given a top priority for Maharashtra region. The number of Management trainee/ marketing executive and district managers in Maharashtra is 350 that is comparatively half all India field staff that is reason for strong presence and continuous growth in the market. Also as per survey, average P.C.P.M (Per Capita Per Month sale) of the pharmaceutical industry is maintained around Rs. 2.75 laks and with Cipla P.C.P.M is average Rs. 4 laks per months that is far better than the expectation, which is a result of good human resource planning. Rapid Staff Turnover: As per industry data Pharmaceutical Companies ranked…

23Oct 2018 by Reese Bannister

Pharmaceutical Marketing Strategies in India (2 Case Studies)

Case Study

Pharmaceutical Marketing Strategies in India (2 Case Studies) explained below: Case Study 1 The highly regarded medical center called “Pride Hospital” has provided medical care for over 35 years. The center serves a primary population of 200,000 and an extended service area of over 300,000. ADVERTISEMENTS: One of the centre’s websites is devoted to weight loss surgery. The site offers a significant amount of educational information, including: a detailed glossary of terms, a weight loss surgery library, a weight table and information about surgical weight loss options. Additionally, the site offers a surgeon/hospital locator system and a message board.This client operates in a competitive online market against a range of hospital, support group and informational websites. Therefore, their online marketing goals included increasing the search engine visibility of the website…

23Oct 2018 by Reese Bannister

Product Life Cycle and Market Life Cycle in Pharmaceutical Marketing in India

Marketing

“Product life cycle in the pharmaceutical market is same as our life cycle, i.e. introduction (birth), growth, maturity and decline (death)”.In human life we needs various types of calories at different stages in the same way, product of pharmaceutical marketing needs various types of inputs to sustain or maintain longer life of the product.In introductory phase, product is introduced into the market and needs a lot of efforts to get prescription from doctor. Here sale is very low and confers only availability at Chemist level. This phase demands lot of inputs like product detailing, physician’s sample and reference print etc. Image Source: infonam.com ADVERTISEMENTS: Growth phase involves actual sale of product and number of prescriptions should be increased. Here fear of competitors to enter and snatch the sale is more…

23Oct 2018 by Reese Bannister

6 Legal Provisions Regarding the Payment of Dividend (as per Companies Act 2006)

Government

Legal Provisions Regarding the Payment of Dividend are given below: 1. Declaration of Dividend: Dividend for a financial year may be declared only when the Balance-sheet and Profit and loss account of the company are presented to the shareholders at the annual general meeting. It is the prerogative of the board of directors to recommend the rate of dividend to be distributed. The members have the right to approve or lower the same. Image Source: kiplinger.com ADVERTISEMENTS: But in no case shareholders can increase the amount. Usually, dividend is declared at the annual general meeting. But a company which has not declared dividend at an annual general meeting may do so at a subsequent general meeting. A company which has declared dividend at a general meeting is not permitted to…

23Oct 2018 by Reese Bannister

3 Pricing Strategies Used in Pharmaceutical Marketing in India

Marketing

Pricing strategies are set as per company objective, market sensitivity, product category, competition etc.There are selective successful pricing strategies in pharmaceutical marketing are discussed as, 1. Marginal Cost Pricing: In simple terms “marginal cost pricing is the cost of producing one more unit as fixed cost already been covered with existing sales volume”. It means company utilizes its capacity for additional production where profit on small sales remains same but chances of additional margin may increase. Marginal cost pricing is helpful when company gets a bulk order from any institution tender or hospital supply to supply were quoting lowest price is more productive. ADVERTISEMENTS: Torrent pharmaceutical Ltd a Gujarat based pharmaceutical company has their brand Hexidol well settled in market. Hexidol has been used as an anti-psychotic drug containing Halo-…

23Oct 2018 by Reese Bannister

6 Provisions of the Companies Act Regarding to the Conduct of Board’s Meetings

Holidays

Most of the powers of the directors are exercised in the meetings of the board of directors. The meetings are where the Board discusses the affairs of the company and also exercises its authority.Conduct of meetings in a proper manner is important for the proper functioning of the company. Following are the provisions of the Companies Act regarding conduct of board’s meetings: (1) Frequency of Board Meeting: In the case of every company, a meeting of its Board of directors must be held at least once in every 3 months and at least 4 such meetings shall be held every year (Sec. 285). Image Source: clubs.lasalle.edu (2) Notice of Board Meeting: ADVERTISEMENTS: Notice of every meeting of the Board of directors of a company shall be given in writing to…

23Oct 2018 by Reese Bannister

11 Most Important Functions of “Depository System”

Essays

The depository system functions as under:1. The system envisages setting up of one or more depositories to hold securities of investors in the electronic form. ADVERTISEMENTS: 2. The depository functions through its agents, who are called Depository Participants (DP).3. The investor, who wants to avail the services of the Depository, has to open a beneficiary account with the Depository through a DP. The account known as the “Demat” account can be opened with more than one DP also. Image Source: irpulse.com4 After opening the demat account, the investor is required to dematerialize the securities held by him in the physical form. To dematerialize the securities, the investor has to fill the Dematerialisation Request Form (DRF) and submit the same to the DP along with the security certificate.The DP through the…