Advice You - Business

If you want to make a success of your business then you must be able to sell your products. That makes sense doesn't it? And in most businesses that means getting out and selling to your customers. Yet many sales interviews are guaranteed to be fruitl

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

ess before they even begin. Why? Well, because too many business people simply fail to do the right preparation before embarking on their sales calls.

Selling requires certain skills but the number one factor in determining your success is spending t

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

ime on thorough preparation. Rushing around from meeting to meeting, visiting as many customers as you can fit in the day, is a worthless exercise unless you have spent time on the pre-call process. You must adopt a professional approach.

There is mu

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

ch planning you need to do before you arrange those sales meetings and applying your mind to these seven key points will ensure that you are heading in the right direction:

1. How well do you know your customer? You need to know what will motivate th

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

em to buy from you. How big is their business? In what market or sector do they operate? How much of their business do you currently get and who else do they buy your type of product from? How much business can you realistically expect to get? Some cu

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

stomers may be part of a larger organization so would your time be better spent trying to secure a group deal?

2. You must understand the market place in which you are trading. How big is the total market for your type of product and how many potenti

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

al customers are there? How many of those customers can you realistically expect to be able to contact and make your pitch to? Who are the big players in the market? Also be aware of who the small-time players are and decide if your time is going to b

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

better spent elsewhere. So make sure you research your market and get details of the real potential customer base.

3. Do you know who your competitors are? That may sound a silly question but whilst many sales people spend hours learning about their

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

own company and products, they fail to do the same for the competition. In some markets you may only have three or four competitors, whilst in others it could be dozens. Do they operate nationally or just within one state or region, maybe even in jus

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

t the one town or city? Do you know their strengths and weaknesses? Get to know all about their product lines and how they compare with yours. You may think you know your unique selling proposition but what is theirs?

4. As you prepare for your sales

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

interview you need to consider what "tools" are available to you. This may include brochures and technical data about your product. You may also have product samples or demonstration kits. Actual case studies of when and where your products have been

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

used are always useful, along with customer testimonials if you have them. If appropriate photographs of your product in use are a helpful sales aid too. Whatever resources are available, you must decide beforehand what you are going to need for the

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

interview. Don't overload yourself, only take what you really need and what you can comfortably handle. In fact it may be a good idea to hold something back. That way you have a good reason to arrange a follow-up meeting if you think you need one.

5.

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

It is vital that you manage your time effectively. Time management is a massive subject in itself which you should educate yourself about. However in planning your sales call there are two crucial areas. Firstly ensure that you arrive on time, prefer

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

bly between two and five minutes early. Secondly you must plan the call so that you have enough time to achieve your objective. So don't rush the meeting, you are likely to miss something important. What's more, if you are too hasty, your customer is

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

likely to think that you don't value his business. However always remember the old saying , "time is money" and make sure that you do not waste either your customer's time or your own.

6. Always know what the objective of your call is. Many sales peo

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

ple fail to do this simple thing and then wonder why they don't get the sale. Remember that some calls may be about prospecting and gathering information so have a clear idea of what you need to find out. But the ultimate objective must always be to g

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

et the order. It may take two or three calls, which is fine, as long as you know what you want to achieve at each stage.

7. No matter what you know about customers, the market, and your competitors. Regardless of how well you have planned your time a

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

nd resources. There is one element that is crucial to your sales success – you! You must present yourself in the right way, be polite and courteous, and act professionally at all times. How you appear to your customer is vital – it is you they will, o

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

r will not, buy from. And always smile!

Following these seven tips will boost your sales success and will set you apart from many of your competitors. Your customers will recognize you as a true business professional and will be glad to deal with you

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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