Overview
"We are all in the same boat" - a joint commitment to enhancing competitiveness.
Our main objective is to provide our clients with pharmaceutical business services of the highest quality. Faktorpharma as pharmaceutical distributor has intention to become a company where clients can be presented with everything they need. When a market is in short supply of professionalism like in these regions, we think that it is very useful to our clients to work with only one party especially the one that knows the market well, has the necessary skills and experience, and that understands the client's business needs.
Our quality and service makes us unique. We are proud of our professionalism and hard work. Our clients' success is our priority. In order to achieve the best results we have a very good relationship with our clients, we think that interaction is a key to prosperity.
Before entering Serbian and Balkans' country markets there are some questions that need to be answered:
"Is there a market for our products?
What the potential of the market?
How are we going to sell our products?"
Our research and our market analysis give accurate answers to those questions. If there is the market potential, the client should be brought the product to market as soon as possible before the competitors appear. What would be needing first is registering of the product which is very difficult and time consuming. Thanks to our registration strategy we expedite the product's registration in record time which saves our client's time and money.
As the end of the registration process is nearing, clients start the process of marketing their products to the relevant audience. We can assist in conducting a targeted, productive marketing campaign. All Faktorpharma's campaigns are distinctive and characterized by the utmost professional criterion and we do our best to ensure that the right message is communicated to the audience.
Regarding sales and distribution, Faktorpharma can be of assistance in two ways - we can take on sales and distribution ourselves, and for the wide spread audience we can find distributors and supervise them to ensure performance.
In order to provide our clients with strategic advice if that is what they need we help them using our resources and outside experts.
Market analasys
Managers must make decisions upon market analysis data and even more understand how the data was derived.
Providing a precise market analysis in Serbia sometimes requires full use of one's abilities and resources since most of the data are of low-quality and often contradictory. Also, pharmaceutical market data in this country were always in short supply. In order to obtain data we access a variety of sources. In many cases we use databases of private providers, government agencies; various associations etc. and we often consult with experts. When we collect all the data we compare and contrast them, also, we double check them to ensure that we have reliable information.
We examine the data in order to obtain concrete strategies. While analyzing we try to predict future dynamics of the relevant market. We estimate values of competition (in case they are present on the relevant market). Then we appraise possible product sales and issue recommendations on product marketing such as pricing policy etc.
Our research is of highest quality because we use our broad network of contacts to gain entrance to experts and people who make decisions in this area and because of our employees who are the best in the field. Most of our employees who are engaged in market research have previously worked in senior positions in marketing in leading Serbians pharmaceutical companies.
Registration
Time is money.
Registration of the products at the Serbian regulatory organs is required in advance before entering on the market. According to the timeline of Medicinal agency in Republic of Serbia, the average time for registration is more then 1.5 years. Faktorpharma can speed up that procedure in record time, often within 6-9 months. By leaving registration to Faktorpharma our clients save both money and time. We prepare dossiers for the Medicinal Agency of Serbia; we provide import permissions from the customs authorities etc. which result in additional savings for clients.
We have such success in this procedure because we have good strategy and dedicated staff. Without right instructions, companies often fail to complete the dossier in the exact way and hence must go back to regulatory organs numerous of times until they clarify all the issues. This is very time-consuming. We are well informed about the demands of the regulatory organs, and we make sure that the dossiers are prepared in accord with the instructions. We involve experts on regular basis to make sure that the documents are in right format and that the client answered to all the questions. We also continue to monitor the progress of the dossiers when they are within the regulatory organs. That is how we ensure that the documents are not lost.
Members of our team have decades of direct experience with the relevant regulatory organs so they know very well the procedure so as the people.
Marketing activity
"The management process responsible for identifying, anticipating and satisfying customer requirements profitably."
*source: Chartered Institute of Marketing
Serbian market is very difficult in sense of Marketing. Helping the consumers in Serbia in understanding why and how to use a certain product is all the more appealing.
Faktorpharma is pharmaceutical distributor which helping its clients to connect with the key opinion leaders, doctors, government officials and consumers. We organize conferences for select practitioners, conduct advisory boards for a product, and we help in preparing presentations and brochures.
All our marketing campaigns are different and unique, so our clients can be sure that we do everything in our power to manage a productive campaign in their best interest. We have received only compliments for our marketing campaigns.
Our campaigns include both educational and lobbying operations. We educate relevant parties about the product's advantages, and we try to influence them to purchase the relevant product. At the beginning we engage appropriate groups to develop a key message. Then we advocate product advantages to relevant audience until they become aware what the product is, how to use it, and why they should recommend. We lobby the product to influential persons, trying to persuade them to buy it. We believe that a good strategy and dedication can ensure a successful marketing campaign.
Our contacts with opinion leaders and governmental official also have influence on the effectiveness of our marketing campaigns. We know how to adjust key messages to appeal their needs.
Sales and distribution
Channel identification and motivation < - > Sales activity implementation and realization. "Down to Ground" - this is what we are here for.
Sales and distribution lie at the core of Faktorpharma's activities. We are increasing our skills in this area; we have a high-quality warehouse in Belgrade so as the growing sales staff.
We offer two different Sales and Distribution services:
- For products with highly concentrated customers, we use internal resources. We import the products, we store them in Belgrade, and we negotiate with potential purchasers, take orders, and distribute the products as desired;
- For the medicals that treat widespread illnesses, and therefore need to be distributed across many locations in Serbia (or other Balkan's countries), we cooperated with other distributors.
If the state is interested in purchasing the product in that case we interact with government officials on all levels to ensure that the product is in given consideration.
We also monitor distributors to ensure that there is no competition among them and that they are interested in selling the product. That kind of service requires an excellent relationship with distributors.
In-licencing
Developing our product portfolio with new therapies is increasing overall medical health of Serbia.
A lot of companies that are interested in out-licensing of their products to Serbia and other Balkan's states approached us. Also in many cases some opinion leaders mentioned that there is a need for a particular pharmaceutical and ask if we can bring it to Serbia. In-licensing is priority for Faktorpharma. We are interested in in-licensing so much mainly because it can bring needed products to Serbia and because it will allow us to oversee all aspects of pharmaceutical product entry into Serbia.
Although we are mainly focused on original and new products, we are also interested to consider all opportunities for partnership in this field.
