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5 factors that led to the success of a drugstore

And how they are leading the generics market
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Generika Drugstore, a pioneer in the retail distribution of quality generic medicines in the country, is strengthening its market presence this year through store expansion and brand-building activities. Founded only in 2003, the drugstore brand has now grown to 170 stores nationwide.

Aside from being the generics drugstore, what factors could have contributed to the huge success of the Generika brand?

Entrepreneur.com.ph looks into the factors that made Generika Drugstore a huge success:

1. Affordable quality
The drugstore does not only offer generic medicines as a value-for-money alternative to branded products, more importantly, it also ensures that consumers get quality medicines that carry the same active ingredients and are as beneficial as branded products.  

High internal standards for screening and monitoring the quality of medicines offered in its drugstores is one thing that Generika Drugstore has put in place in its system.  It carries only BFAD-approved products and verifies that its suppliers comply with good manufacturing practices. Since temperature and other storage conditions may affect the efficacy of medicines, its warehouses and stores are air-conditioned to maintain drug potency.

2. Professional service
Distinguishing it above other neighborhood drugstores is the superior level of service offered by Generika Drugstore.  In-store personnel are trained to offer professional counseling to customers, giving them advice on how to use drugs safely and effectively.

All the outlets offer free blood pressure monitoring, while blood sugar screening (FBS/RBS) as well as cholesterol screening can be availed for a very minimal fee.  The drugstore also conducts Libreng Konsulta, Libreng Bunot days as part of its outreach program, while generic awareness presentations are held to educate senior citizens and other groups about generic drugs.

3. Going beyond generics
In addition to quality generic medicines, Generika Drugstore also carries branded medicines, medical supplies, galenicals (or herbal formulations), and selected consumer goods — all at very competitive prices.  Thus, Generika Drugstore offers a wider product selection and that are more complete compared to similar small outlets.

4. Harnessing Filipino entrepreneurship
Starting out with a single outlet in Alabang in 2004, Generika Drugstore expanded to 16 company-owned stores strategic locations in Metro Manila, Cavite and Laguna by 2008.  

Building on the success of their business model, Generika opened up franchising opportunities to Filipino entrepreneurs in May 2008.  The drugstore now has 170 operational and soon-to-open stores all over the country.  Many franchise applications are being processed and more locations will be opened as the company is geared to expand more aggressively in the coming months and years.

5. Being multi-awarded
Declared the the national winner in the drugstore chain category of the DSAP (Drugstore Association of the Philippines) Quality Award in 2008 and acquiring the Quality Seal Award in 2009 from the Bureau of Food and Drugs, are assurances of the quality that Generika Drugstore stands for.

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