FREQUENCY : QUARTERLY
PUBLISHER : ANANDI HEALCARE LLP,WASHIM-444505
CHIEF EDITOR : Dr. SANJAY K BAIS
COPYRIGHT : INTERNATIONAL JOURNAL OF PHARMACY AND HERBAL TECHNOLOGY
STARTING YEAR : 2023
SUBJECT : MEDICAL SCIENCES
LANGUAGE : ENGLISH
PUBLICATION FORMAT : ONLINE
PHONE NO : 8233000887
EMAIL ID : editorijpht@gmail.com
WEBSITE : www.ijprdjournal.com
ADDRESS : Near Kaleshwwar Mandir Shukrawar peth, Washim-444505 Maharashtra
Author Name: Jyoti B. Salgar, Sanjay K. Bais, Tanjeel S. Mulani
Email: tanjilmulani0204@gmail.com
College: Fabtech College of Pharmacy, Sangola640-654
This comprehensive review explores the intricate stages of the pharmaceutical sales cycle, dissecting each phases significance and the challenges encountered in this dynamic industry. Beginning with lead list preparation, the foundation of success, the journey unfolds through stages like first contact/interview, funnelling customers, and in-depth product discussions. Each stage requires a nuanced understanding of the pharmaceutical landscape, regulatory frameworks, and the unique needs of healthcare professionals. Addressing customer objections emerges as a pivotal aspect, where pharmaceutical sales representatives employ strategic finesse to overcome concerns related to product efficacy, safety, pricing, and competition. Negotiations and sales closing follow, demanding a delicate balance between assertiveness and collaboration, emphasizing the need for adherence to regulatory standards and alignment with client objectives. The review then delves into the strategic generation of referrals, recognizing the power of satisfied clients and professional networks in expanding pharmaceutical reach. Lastly, the challenges inherent in pharmaceutical sales, encompassing government intervention, intense competition, precise target assessment, adherence, compliance, and technological advancements, are explored. These challenges necessitate adaptability, regulatory acumen, and strategic thinking for successful navigation.
Pharmaceutical Sales, Sales Cycle, Lead List Preparation, Customer Interactions, Funneling Strategies, Product Discussions, Customer Objections Handling, Negotiations