Give me six hours to chop down a tree and I will spend the first four sharpening the Axe
How It Stands true in Our Job of Sales Promotion (M.R, ASM, RSM, PMT, etc)?
We face new challenges every day in Market, Run from Pillar to Post to Generate Rx, if Lost 1 Prescriber… What is Total Loss?
How to remain Updated?
The Solution is in RCPA commonly known as Retail Survey.
Let’s understand the Role of RCPA in our Life as Sales Promotion Professional
Retail Survey – Retail Counter Prescription Audit(RCPA)
- Know your Competitor.
- Understanding Prescription Trends.
- Know Your product Positioning.
- Understanding Prescription Habits of Dr’s.
- New Launches & Promotions.
- New Trends in Market.
- Identifying New Opportunities
Source: Key person or owner of Chemist Shop.
The day of Medical representative starts in the field with surveys/information from retailers. Commonly called RCPA, This is the most important tool which decides your success and failure in sales and marketing.
A robust retail survey not only equips you with the information listed above at the same time it challenges your competence and abilities to develop further. The retail survey needs to be done with 2 objectives –
- Understanding Competition Market to develop your competence.
- Increasing Business.
1. Understanding Competition Market to develop your competence.
- a) Which brands(Company) are Moving well.
- b) Price and Bonus on Brand.
- c) Which are other relevant Molecules?
- d) Indications where it is used.
- e) Which are other Molecules used in given Indications?
- f) Dose and Dosage schedule used by Dr’s.
- g) Quantitative feedback to define product potential.
2. Increasing Business.
- Identification of Right customer for Product.
- Preparing Dr v/s Brand matrix
- Ensuring Product availability
- Checking Non-moving Near-Expiry Products.
- Liquidation of Near-Expiry or Shifting to where it moves, Preventing losses of Retailer and Company.
- Ready information for any new launch or active promotion.
- It helps in trade leverage.
Important Questions to be asked during the Chemist survey –
- Know your brand’s position
- No. of Prescriptions.
- No. of units sold per Prescription.
- Competitor Direct (Same Molecule) Indirect (Same Indication Different Molecule).
- Quantitative detail of own and Competitors (Rx/Day/Week/Month validate with quantity sold)
- Check the stock position of your Brand viz a viz competitors.
- Any near Expiry stock or Non-Moving Stocks (Showing concern for his Investments and Stocks)
- POB of shortages or new availability.
“Building good relations with retailers can help in many aspects to the medical representatives.”
Information on conversion or loss of Prescription, Liquidation of non-moving, near expiry products, Latest information on bonus and competitors activities.
To build strong Healthy relations, one must take care of the following…
- Whatever stocks are made available to him are liquidated through prescriptions from surrounding Dr’s
- Full and fair information on price and Bonus or any other promotion by the company for retailers.
- Remain concerned about his non-moving, near expiry stocks.
- Sharing the latest information on trade and business of his interest.
- Know your customer (By his first name) and his important dates and events.
Greeting him with a smile.
Usage, Storage & Updation of Information
How to Store Information Collected:
Information can be stored in 2 formats
- Creating a Chemist Information Page in your Diary or PC – Multiple Dr’s Feedback on Chemist’s Page
- Creating a Dr. Focussed Page – Multiple Chemists Feedback on Dr’s Page
- Use Predefined Template/Format to validate and Update the Information whenever you visit the Retailer.
- Seek New Information about New Dr., Product, Brand, or Molecule in Therapeutic Segment
- Check if trend appears to Move from your Molecules to Newer Molecules or Shift in Brands (Quantity/Company- Share)
- Identifying Gap or Loss of Rx
- Timely Recognition of Shift in Rx Habits and Prepare Action Plan
- Feedback to Organization/Company
- Remaining Updated in what is Happening around
- Finding New Opportunity (Brand use Expansion or Customer Base Expansion(New Customer) etc)
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