Perspectives on Business Management, Economics & Information Technology (PBMEIT) Now also covers research on Psychology

PBME Volume V ISBN: 978-81-951151-3-6

PREFERENCE AND STOCKING BEHAVIOR OF THE SUPPLY CHAIN STAKEHOLDERS FOR DRUG BRANDS IN THE INDIAN PHARMACEUTICAL MARKET: A STUDY ON RETAIL CHEMISTS IN DELHI

Author(s): DR. P.S RAYCHAUDHURI & BUSHRA AKHTAR & ISHRAT RASOOL

Abstract

This research study is based on the retail chemists’ perception of the available drug brands and the factors that influence their preference of stocking the drugs. There has been a rapid increase in the new product launches, new brands, and competition of global pharmaceutical companies in India. It has become necessary for domestic companies to build product brands, and maintain the company image.

The significant factors that influence the chemists’ perception are the quality of the drug, brand image, profit margin given by the company, and pricing. The doctors prefer to prescribe a drug that is of good quality with a good brand image; it should be also available at an affordable price. This enables the chemists to stock it for sale. The chemists also get good profit margins from the company. The results of the research help the pharmaceutical marketers to understand the chemist’s decision-making process for their stocking choice of different brands. This in turn would help the marketers to formulate strategies to meet them.

Keywords: Brand Preferences, Pharmaceutical distribution, Marketing Strategies, Stocking behaviour, Retail chemists, Branded Drugs

JEL Classification: M3, M31

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