Advice You - Business

The average attention span of the average adult is 12-14 seconds. If your sales prese

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

ntation lasts more than 1 minute, don’t flatter yourself thinking that most prospects

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

Examples of combination products may in

hear or remember what you say.

In a recent sales survey, it was discovered that most

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

salespeople cover 5-7 features during their presentation. When asked what the prospec

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

remembered 24 hours later, they mentioned only one of the features. Guess which one?

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

Combination pro

Not the first one, or the last one, but the one that related to their need, want, pr

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

blem, desire or concern.

So what is the key to an effective sales presentation? Only

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

cover the features and corresponding benefits of the issues that are of interest to t

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

e prospect. People buy for their reasons, not yours. They buy emotionally, and then j

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

ustify their decision logically. Therefore a powerful presentation does the followin

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

:

1. It comes from the prospect’s perspective.
2. It is interactive.
3. It

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

Following aspects would a

is a conversation with an agenda.
4. It blends a balance of emotional appeal and

dd to the challenges in developing combination products:

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

logical reasons.
5. It is brief.
6. It lets the prospect tell you what he w

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

ants and/or needs.
7. It qualifies interest in the features as you move along.

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

> 8. It tests the prospect’s interest along the way with trial closing questions.

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

9. It adjusts to the prospect’s personality style.
10. It is customized and ta

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

Professional from academic institutions, pharmaceutical industries, health care indust

lored to each prospect.

Most salespeople go into what I call a “feature dump.” One

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

of the biggest mistakes salespeople make is that THEY TALK TOO MUCH. How about you?

.

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

Are you giving more information than you are getting?

Most good prospects are ready

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

Companies that provide selfless information through particip

o buy before they tell you. Just give them a chance, and they will help you sell 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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