Advice You - Business

One of the biggest mistakes poor salespeople make is THEY TALK TOO MUCH. The second is: THEY GIVE INFORMATION BEFORE

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

THEY GET IT.

When you make these mistakes, you will tend to turn off most potential customers or clients. I rememb

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

Examples of combination products may in

er my first sales position back in the early 60s. I worked for one of the top 5 insurance companies in the world. Th

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 fired me after 6 months. When you don’t sell anything for 6 months…….well, I am surprised it took them so long.

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 were a number of reasons why I failed, and I don’t intend to bore you with all of them – just one, to illustra

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

Combination pro

e the point of this week’s tip. (By the way, the industry at that time had a 90% turnover rate in new agents in thei

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

r first year, so it wasn’t just me. As a footnote, several years ago I was asked to speak to a group of sales agents

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

from that company. Isn’t life interesting?)

Back to the story. The way they taught me to sell was to memorize the

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

ales presentation that they had developed, and then go out and deliver it 4-5 times a day. Their justification at th

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

e time was that selling is a numbers game. (We’ll save that subject for a future tip.) This is what I call a produc

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

or organizational-driven sales approach. It doesn’t work. The message you send to a prospect when you go into this

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

Following aspects would a

feature dump is – all prospects are the same and buy for the same reasons. Not so, and you and they know it.

The ke

dd to the challenges in developing combination products:

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

y to your success is not in the delivery of a pre-planned message that covers all the features that some genius in y

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

ur organization has decided are important. The key to your success is to discover what your prospect’s needs, issues

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

, concerns, problems, wants, desires or attitudes are. Then, deliver only that information that they need to make an

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

intelligent buying decision now. Give them the rest of the stuff later – if they want it.

When you talk too much, y

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

Professional from academic institutions, pharmaceutical industries, health care indust

ou will give unnecessary or wrong information. Learn to let the prospect drive the process; not the control of it, b

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

ut the information portion. Another myth or way of stating this is the outdated sales axiom: Plan your sales calls.

.

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

Don’t plan the information you are going to give. If you have been selling your product or service for a year or mor

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

Companies that provide selfless information through particip

e, you shouldn’t need to do this. However, plan the information you need to get – the questions you are going to ask

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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Discover nine mini-systems you can use to grow your business and multiply your income.

I would like to be a social worker because I desire to help people. All of my life I have wanted to be in some sort of helping profession; For instance in junior high my friend and I planned to become psychiatrists. After high school I went to the University of Southern Mississippi and majored in Veterinary. That I am sad to say did not pan out due to my biology handicap.

With today's rapidly crowding global market, your product or service will need more publicity and marketing so that your unique voice can be heard. With the thousands of advertisements on television, the thousands of posters plastered on both city and town walls, and the thousands of sales people all jostling each other to catch a prospective customer's attention, is there still an alternative marketing method that could ensure your commercial success?

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