Advice You - Business

Perhaps you have driven past the road signs for new developments proclaiming they are "Master-Planned". Maybe, you live in one. Master-Planned Communities usually

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

incorporate extensive recreational amenities like lakes, golf courses, and expansive parks with bike paths, and jogging trails. The original planners may even inco

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

Examples of combination products may in

rporate office parks and hotels/motels into the community's plans. This balanced plan enhances the value of the properties and makes them more valuable and enjoyab

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

le to live and work in.

The Sales Planning Question

If you stepped back with me for a minute and took a bird's eye view of your sales plan, would it be co

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

sidered a Master-Planned Sales Plan? Let's imagine that your original sales plan was to support 550 core customers. The strategy was to develop a community of cust

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

Combination pro

omers that would increase your bank account and capitalize on the capabilities of your business. The balanced sales plan would include accounts that would preserve

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

you from the rise and fall of individual markets and not rely on one single market sector. Your customers might have recurring needs for your services and they mi

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

ht be involved in a growing industry themselves.

Adjusting Your Sales Plan

If we stick to your sales plan you will certainly make adjustments along the wa

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

y. After all, there isn't any plan that is perfect from the beginning and all plans need to be corrected based on changes in the environment and surroundings. One

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

of the things that will happen to us in outside sales is that we get too close to the situation and it becomes difficult for us to see that change is needed. We mu

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

t step back to gain perspective.

One question we should ask ourselves about our customers is, would they qualify as the ideal customer. This question is based on

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

Following aspects would a

our original sales plan. If they qualify, they should be a thriving business using us for multiple lines of services. If we can’t answer this, we should meet with

dd to the challenges in developing combination products:

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

our customers and learn how their business has changed to identify opportunity areas. The goal is to discover where some of our new services might support their ne

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

eds in a more direct way.

The Challenge of Change

If you get bored with the same challenges everyday, you are probably missing something. Most industries

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

mbrace change and challenges us to find creative solutions our customer have. We can't say to someone "that isn't our problem" because they usually are. Change is

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

part of what we live for. If we are performing our role in sales to its fullest we look for problems and changes in the markets.

Does your sales plan include chan

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

Professional from academic institutions, pharmaceutical industries, health care indust

ges in your market that are both positive and negative? In my neighborhood the driving time it takes to get somewhere by car takes longer than it did just a few mo

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

ths ago. Because of this people are embracing and discovering new ways to get business done rather than to drive to a place of business. This opens the door to dig

.

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

ital communications and using improved delivery services. Is this something your business plan has adjusted for? If not, perhaps it should. The main point is to ev

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

Companies that provide selfless information through particip

aluate customers and ensure they are they type of clients you want for your sales Community of clients and adjust your sales plans to meet the changes in your area

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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Sometimes in business there are constructive ways you can develop your people and ways of saying things that will only contribute to their decline. How will you do it?

I remember once seeing a cartoon which showed two people working a counter. On the wall behind them was a sign which read, “Quality Work, Low Price, Fast Service – Pick Two.” In order to deliver all three, which is what customers expect, it’s important to understand the flows of your organization.

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Advice You - How to Develop a Master-Planned Sales Plan

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