A Pharma manufacturing firm creates pharmaceutical goods, whereas a Pharma marketing company does market them so that sales and brand recall increase. It’s tricky to say which is better. Both have advantages and disadvantages. Pharmaceutical manufacturing firm offers complete working independence while in the Pharma marketing company; one must adapt their strategy to the changing competitive landscape. Both business streams require different amounts of investment. Typically, a pharmaceutical marketing firm is not cost-conscious but not having to invest a lot of money in infrastructure does help.
A Pharma manufacturing company requires more capital than a marketing firm. As a result, if all other factors are equal, money might be a determining factor in choosing a business path.
Let’s give you a clearer picture of the conclusion of the war between the Pharma manufacturing company and Pharma marketing company. Because the government encourages new businesses, establishing a PCD Pharma franchise in India is now rather simple.
The medical business in India is thriving, so there’s plenty of room for expansion. Consider the following differences between a pharmaceutical manufacturing firm and a pharmaceutical marketing company:-
Difference in customers
The Pharma manufacturing company produces and distributes a wide range of generic and branded medications, as well as active pharmaceutical components, sophisticated drug delivery systems, and biopharmaceuticals. Doctors, pharmacy stores, medication distributors, wholesalers, and anybody else seeking a specific pharmaceutical product are among their customers.
Whereas the Pharma marketing company has a customer base of Pharma companies who want to advertise, market, and bring awareness, and recognition to their company to finally get good revenue from their sales. So, a Pharma Manufacturing Company does digital marketing for the Pharma companies/brands. The different categories of digital marketing done by them are Insurance, FMCF, Healthcare, B2B, and Pharma Manufacturers.
Difference in process
A Pharma manufacturing company’s process is based on handling multiple clients and making their specific drugs and combinations. This is a pretty complex and multi-layered task as at once different drugs are made using completely different procedures. They perform all tasks and methods for pharmaceutical manufacturing through their numerous departments under one roof. Thus it becomes a complicated business concept handling all that at once.
Whereas a Pharma marketing company’s process is about creating awareness, advertising, promoting multiple product lines, and marketing brand value to ultimately hype the sales for their clients or accomplish a marketing goal set by their client, it is a fairly simple task than the process of the Pharma manufacturing companies. Still, a Pharma marketing company has a well-defined functioning network.
The difference in market competition
The market competition in the Pharma manufacturing industry is not intense like the Pharma marketing industry. The fierce rivalry in drug marketing firms keeps professionals on their toes. Nowadays more and more Pharma marketing companies are rapidly emerging after recognizing the market gap in giving supply for the demand of marketing services in the Pharma industry. But because of the complex and elaborate functioning network of the Pharma manufacturing companies, there are fewer companies that have emerged and been able to deliver to the standard for the demand of drugs and Pharma products. So, the Pharma manufacturing companies have a good percentage of old companies along with few new companies. To handle the obstacles that a pharmaceutical marketing organization throws at you, you must be willing to take risks. Because the rivalry is so strong, it takes all of one’s efforts to succeed. Those with strong execution abilities might choose a career in pharmaceutical production. Precision and procedure adherence is extremely important in this industry. Both industries have their unique set of challenges and difficult situations. It may be overcome with careful preparation and problem-solving abilities.
Difference In certification
The Pharma manufacturing firm requires quality assurance certification, but the pharmaceutical marketing company does not. A Pharma manufacturing firm has all employees that are certified to work with the production of pharmaceuticals and Pharma solutions. They must also follow industry standards like ISO, WHO, DCGI, GMP, GLP, FSSAI, and others. Any manufacturing company’s trustworthiness and authenticity will be enhanced by certification from these divisions.
However, unlike a Pharma manufacturing firm, a Pharma marketing company is not required to follow or be certified by laws. The human resource employed here only needs marketing knowledge and skills, as a good copywriter and be able to investigate and implement a customer-friendly approach.
The difference in Profit Margin
Manufacturing enterprises have higher profit margins than marketing firms. They help their clients by offering a variety of manufacturing rates for various treatments and formulations. A marketing firm, on the other hand, cannot charge various charges to different clients. The pricing of drugs is set.
Conclusion
As we discussed the differentiating factors of the Pharma manufacturing and Pharma marketing company, the conclusion is whether you work as a marketing manager or establish your firm, the general development prospects are excellent. Both streams are beneficial if you keep working without being overwhelmed by the beginning difficulties. The pharmaceutical manufacturing sector is very straightforward to start in India since the government encourages new enterprises. To encourage new businesses, processes have been simplified and rules have been made more flexible. Working at a pharmaceutical marketing firm might be exceedingly difficult for certain people. Because the market is so competitive, it necessitates maximum efficiency and attention.
