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Advice You - Guaranteed Selling: I'm Sure You’re Going To Love It!
Recently, I wrote an article about the awesome value of using guarantees in selling.
When pr
When pr
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
operly crafted and communicated, they lower buyers’ perceived risks, making them inclined to
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
agree faster, more often, and to purchase in larger quantities.
Very few people, statistical
Very few people, statistical
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
y, will undo deals, so the advantages of guarantees tend to outweigh the disadvantages.
But
But
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
there is a warning I should issue.
You have to make sure that your MESSAGE doesn’t backfire;
You have to make sure that your MESSAGE doesn’t backfire;
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
that you don’t oversell the “out-clause” so much that you train your buyers to do the wrong t
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
hing, in droves.
Specifically, you never want to design your presentation so your CLOSE-LINE
Specifically, you never want to design your presentation so your CLOSE-LINE
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
the very last thing you say to induce an “OK” hinges on undoing the deal.
EXAMPLE: “So, wha
EXAMPLE: “So, wha
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
t we’ll do is get this video program out to you and if you don’t like it, simply pop it back
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
nto the mail and that will be that; OK?”
By the way, the phrasing of that example is GOLDEN,
By the way, the phrasing of that example is GOLDEN,
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
but-for the poor placement of its guarantee language.
Here’s a much preferred way of phrasi
Here’s a much preferred way of phrasi
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
ng it:
BETTER EXAMPLE: “So, what we’ll do is get this video program out to you and if you do
BETTER EXAMPLE: “So, what we’ll do is get this video program out to you and if you do
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
’t like it, simply pop it back into the mail, but we’re sure you’re going to love it and want
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
to add it to your training library; OK?”
Take a quick second to analyze the differences. Wh
Take a quick second to analyze the differences. Wh
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
t stands out to you?
In the first example we end on a NEGATIVE, so the client is saying yes
In the first example we end on a NEGATIVE, so the client is saying yes
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
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
to a no, so to speak. We’re training them to return the video, to expect to not like it.
The
The
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
second version ends on a POSITIVE note. It says, you’re going to love it and want to keep it.
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
We tested both versions at Time-Life, famous for its 10-day trials and guarantees, and we f
.
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
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
und the second version has a HUGE impact on the proportion of people who keep and pay for the
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
ir products.
By all means use guarantees, but above all, make sure to avoid overselling them
By all means use guarantees, but above all, make sure to avoid overselling them
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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