Advice You - Business

Some trainers and sales managers teach that there are prospects that just need a little more time in the decision-making process. They explain that a decision-maker’s stall is not al

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

ways a put off and they just need to think a bit more about their decision, or that they have to sell the idea to someone else. Therefore, many sales and service industry professiona

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

Examples of combination products may in

ls accept the stall, “I’ve got to think about it.” at face value, believing that a buyer truly has an interest in what they are selling and just needs more time to think about the be

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

nefits of the offer. However, in their hearts many sales professionals know better, but hope usually wins out in the end and they accept the stalling tactic of a prospect as truth an

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

continue to work with them for many weeks or months in the delusion that something positive will come from their persistence.

As many seasoned sales professionals know, 90 to 95 pe

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

Combination pro

rcent of the time when you hear a decision-maker say, ‘’I’ve got to think it over,” it’s not a stalling tactic at all, but simply a polite way of telling you “no.” To reduce the numb

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

er of polite “turn downs,” as you close your presentations; from this point forward, make certain that you give the decision-maker permission to tell you “no.” This technique will re

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

uce tension in the transaction and encourage candor as you search to find the reason a buyer initially decided to meet with you. (Logic suggests that if you are able to discuss your

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

product or service at any length, there is a good possibility that your prospect has a need.) To give permission to a decision-maker to tell you “no,” just say something like this:

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

“John, if what I propose today will not work for you or your company (firm), please tell me, so that we don’t drag this transaction out over an additional meeting or two. I don t wan

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

you to tell me ‘no,’ but I also don’t want to keep bugging you, if what I’ve shown you will not work for you or your organization.”

By giving your prospect permission to tell you “

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

Following aspects would a

no,” you take most of the tension and pressure out of your closing, creating a climate where candor and openness prevail. This climate will help you to discover the true feelings of

dd to the challenges in developing combination products:

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

your prospect about your products or services as you probe to find a prospect’s needs.

Whenever you hear the words, “I’ve got to think it over,” you are receiving an objection. Stal

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

ls like this and objections need to be isolated in a sales transaction to make certain that you have covered each of the issues or concerns of your prospect, customer or client. For

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

ost objections you can just ask, “If it weren’t for this issue or problem, is there anything else keeping you from purchasing today?” However, to isolate the objection, “I’ve got to

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

think more about this.” just ask the following questions to help put the “I’ve got to think it over.” stall into some perspective:

1. Are you still having problems with our pricing?

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

Professional from academic institutions, pharmaceutical industries, health care indust

2. Do you have a problem with the integrity of the company (firm)?

3. Have I said or done anything to keep you from purchasing today?

After asking these three questions, just wai

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

until the decision-maker tells you why he can’t purchase or won’t sign with you. By asking the questions listed here, in most transactions you’ll learn exactly where you stand to kn

.

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

ow if you truly are working with the decision-maker and there is an interest in completing the transaction. For a proven system that eliminates most stalls, check out my selling skil

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

Companies that provide selfless information through particip

ls manual at: http://www.thesellingedge.com/manual1.htm or the sales tools at: http://www.thesellingedge.com/tools.htm

Here's wishing you every success in your sales activities

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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