Introduction
Pharmaceutical market in India is about $ 11.1 billion growing at the rate of 17.6% and expected to reach $20 billion (Rs. 88,820 crore) by 2015.India’s pharma market is 13th largest in terms of the value and 4th largest in terms of the volume. Currently only 1%-3% of the pharma retail is in the organized sector. The size of India’s pharmacy retail market is estimated at $4.5 billion, which is dominated by 12-15 big players. There are about 800,000 retail shops serving in India. Pharmacy retail is growing at the rate of 20-25% annually. The organized pharma retail market size has the potential to grow to $9 billion by the year 2012.There are more than 3,500 organized retail pharmacy outlets in India. This is expected to grow nearly three times to 10,000 outlets by end of 2012. In similar fashion we are going to experience changes in pharmacy retail service quality expectation and perception of customer. Conceptual Note
There are remarkable changes occurring in the pharma retailing .The will lead to the emergence of the change in service quality, value for the customer. Because quality service is considered as a tool to increase value for the consumer, means of positioning in competitive environment (when most of the companies have opened their own retail), to ensure customer satisfaction and their retention. We also know greater choices and increase in awareness because consumers to be more demanding .So will be employing two tools: Service Quality model and SERVQUAL. Service Quality model diagnoses quality problems in area of expectations and SERVQUAL is to measure perception in the quality provided by the pharmacists to its customers. SERVQUAL is measured by five different determinants that are tangibles, reliability, responsiveness, assurance and empathy. SERVQUAL measures both the expectation and perception of the service on Linker
References: 1. Chandrakant,2011,Measurement of Pharmacy Retail Service Quality –Instrument Development and Validation 2. Hossain et.al, Customer Perception on service quality in retail banking in Middle East: the case of Qatar 3. Scales for measuring service Quality,2001,Alternative scales for measuring service quality: A comparative assessment based on psychometric and diagnostic criteria, Journal