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Advice You - Dont Just Make a Sale
No business can survive without the lifeblood of profitable sales pulsing through it.
Even though many business people have come to realise
Even though many business people have come to realise
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
their existing customers can be a productive source of new business, there is something that is often overlooked. It is easier to achieve a r
; 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
egular flow of sales if you treat each sale as part of a 'process' rather than as a one-off 'event'.
If you view each sale simply as an indi
If you view each sale simply as an indi
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
vidual event you will miss valuable opportunities to enhance your customer relationships, attract more customers, keep the opposition at bay,
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
boost your sales and enjoy higher profits.
Once the sale is 'made', you will need a plan of action to capitalize on and expand your relation
Once the sale is 'made', you will need a plan of action to capitalize on and expand your relation
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
ship with this customer. Sometimes the after-sale activities may require more attention and planning than was needed to gain the sale in the
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
first place.
The traditional advertising/sales process attempts to move customers through a process known as AIDA - Attention, Interest, Des
The traditional advertising/sales process attempts to move customers through a process known as AIDA - Attention, Interest, Des
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
re, Action. I like to expand this acronym to AIDAA, with the extra A standing for After the Sale.
For business-to-business sales there are n
For business-to-business sales there are n
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
umerous worthwhile, and relevant, ways to follow up on a sale. In a business-to-consumer environment there are similar opportunities.
This a
This a
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
fter-sale support is necessary to close the loop and encourage the customer to buy from you again. Try these ideas:
A telephone call/letter
A telephone call/letter
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
eminding the purchaser of customer service options.
Offer complementary services from you at a special rate.
Periodic letters (or brochures
Offer complementary services from you at a special rate.
Periodic letters (or brochures
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
or postcards) reminding the customer of other products your business offers.
In-person courtesy calls to keep in touch with purchasers of h
In-person courtesy calls to keep in touch with purchasers of h
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
igh-value low-frequency business goods or services.
A timely reminder of a service that is due or a suggestion of consumables that may be re
A timely reminder of a service that is due or a suggestion of consumables that may be re
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
quired for the original item purchased.
A relevant offer from another business (sent by you) that will be perceived as useful and valuable b
A relevant offer from another business (sent by you) that will be perceived as useful and valuable b
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
your customer.
Some older sales programs emphasis closing 'techniques' and stress how sales is a 'numbers game'. The more calls you make, t
Some older sales programs emphasis closing 'techniques' and stress how sales is a 'numbers game'. The more calls you make, t
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
he more presentations you make, and the more sales you close. The focus is on completing one sale and moving onto the next. Often the quality
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
of the customer and your relationship with them is ignored.
There is some truth to this simplified approach, and a disciplined sales person
There is some truth to this simplified approach, and a disciplined sales person
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
will attempt to maximise the number of calls they make. However, a longer-term customer-centric approach to your selling activities will yiel
.
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
d greater results for your business, your sales people and your customers.
It's your choice…you can just make a sale, or you can manage the
It's your choice…you can just make a sale, or you can manage 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
sales process to create a lasting relationship that will cause your customer to want to buy from you again.
Which outcome are you focused on
Which outcome are you focused on
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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