Advice You - Business

Ah sales. The word is so easy to say and spell. It flows off the tongue without effort. But hidden beneath that single syllable word is a myriad of situations and problems. Organizations, jobs, stock marke

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

ts, and economies rise and fall with the ramifications of its impact. “Sales?” “Yep, got some more.” “Alright! Let’s go out and celebrate.” Or “Sales?” “Not yet. I promise tomorrow.” “Eh - Gimme some more Pe

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

Examples of combination products may in

to.”

Closing a sale is sometimes as simple as running into someone, listening to his or her distress, needs, and pleasures and helping them achieve relief or attain their desires by giving them the product

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

r service you have that addresses those emotions. Yes, people usually buy emotionally, not rationally (I have a feeling you may have heard that from me before).

Sometimes it takes a bit, or in some cases a

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

ot, more work.

What’s your percentage of one-call closes? If you said 100% I want you to call me NOW! And be ready to be anointed King or Queen of Selling. By the way – you don’t have to be a “salesperson”

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

Combination pro

o experience what I’m discussing. Quite often executives and managers go through the same process when they’re selling their thoughts, strategies and tactics to their teams or others.

More often then not a

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

ale gets completed in stages. First you have to close to get a conversation with your prospect – which may result in a “no reason to move forward” close. That’s not a bad thing, why waste any more of your ti

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

e or the prospect’s time? It’s a non-renewable resource don’t squander it. That closed door will enable you to move more quickly to a “yes” prospect.

Next you have to close to get an appointment. That invo

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

ves making sure you’ve qualified the prospect and have initiated some distress relief and/or pleasure inducing elements. A “no” could come at this juncture (from you or your prospect) if either of you realiz

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

that a match doesn’t exist.

If, however you sense that a match does seem probable it’s time to close the next stage. That may involve scheduling a face-to-face meeting (if your initial appointment was on

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

he phone) or a continuation meeting that would cover things in a more in-depth manner.

Once that’s been decided upon, closing to make sure that your next encounter includes the decision-maker is an extremel

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

Following aspects would a

y important element. That’s assuming your initial meeting was not with the person who has the final word. Skipping this point tends to drag out the process. However, if the decision-maker can’t be there, con

dd to the challenges in developing combination products:

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

inue the sale in order to gain an internal advocate.

During each step, make sure that you remain focused on uncovering needs, distresses and pleasures so you can have a clear picture of what you have to pro

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

ide for your prospect.

Above all don’t forget to remain realistic. Salespeople and many managers have a tendency to become overly optimistic. Often a prospect or team member won’t be able to say “no” becaus

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

they think he or she may not be liked if they react negatively, feel that they’ve been put in an uncomfortable situation, believe that a “yes” is necessary because the “seller” is a superior, or perhaps the

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

’re unrealistic themselves. That’s when the seasoned salesperson or executive/manager has to enable the prospect to say no or recognize the unrealistic nature of the situation. You can soften things by letti

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

Professional from academic institutions, pharmaceutical industries, health care indust

g the prospect know that it’s ok to say no. Helping them understand that you still appreciate the opportunity they’ve given you makes their negative response easier for them (and creates a possible referral

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

ource, return visit at another time, or perhaps even a call from them later more likely).

Selling to someone who doesn’t really need your services or products, can’t afford them (always get a budget or budg

.

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

t parameters), or would be in more distress if they purchased them, is not worth the effort. It’s not unusual to find that when people are “sold” as opposed to coming to the conclusion that they want to “buy

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

Companies that provide selfless information through particip

the bad client syndrome occurs. And…who needs that?

Qualifying is the key in each closing step. If it’s done right you’re on your way to healthier client relations, more referrals, and a better bottom line

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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Advice You - Selling In Stages - You May Have to Close the Same Prospect More than Once to Get a Sale

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