Useful Advices - Business

As many of you probably know there are countless numbers of sales books available on ‘how to overcome objections.’ Indeed I have read many of them myself and

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

almost every one of them is well written and they all offer sales people countless points to help them overcome objections prospects make. Some of my favour

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

Examples of combination products may in

ites are the strategies which enable sales people to overcome the issue of a price being ‘too high.’

The only difficulty I see with such strategies is that

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

ou are immediately positioning yourself against your prospect to defend your product/service. With such tactics, you are effectively arguing with your prospe

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

ct albeit in a friendly way (I hope!). Wouldn’t it be better to begin by agreeing with your prospect from the start? Does that mean you have to condemn your

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

Combination pro

roduct? Of course not. If for example you are selling Mercedes cars and your prospect comes in to your dealership and starts by saying “The BMW is a far nice

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 car with a leather interior, your Mercedes doesn’t even come close.” The average salesperson starts by either criticising the BMW cars or at best ignoring

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

the reference to them and instead immediately citing a benefit of the Mercedes and noting that the BMW does not offer such a benefit. When you do this you ar

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

arguing with the prospect plain and simple, and that is certainly not how to get him to buy from you. Regardless of whether you are correct, even if your pr

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

ospect knows this he will refuse to totally accept your points because of his pride. You have positioned yourself against him and he cannot concede your poin

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

with out damaging his own self-esteem.

Wouldn’t it be better to begin by agreeing on some level with your prospect, for example by saying “The BMW is a nic

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

Following aspects would a

e car Mr. Prospect, there’s no doubt about that, and there leather interior does look very sleek.” When you say this first before even talking about your Mer

dd to the challenges in developing combination products:

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

cedes car it completely disarms the prospect. Essentially the prospect is looking for a feeling of importance and subconsciously he thought he could get it b

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

telling you why the BMW is better than your Mercedes. Now that you’ve agreed with him initially in acknowledging that the BMW is a fine car he cannot get hi

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

s feeling of importance through arguing with you.

Amazingly, when you take this approach prospects usually begin to remark that the BMW isn’t actually that

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

reat or else they point out benefits of your car without you even mentioning them! In effect the prospect begins to sell themselves on buying your car and in

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

Professional from academic institutions, pharmaceutical industries, health care indust

this way they subconsciously achieve their feeling of importance. This makes the prospect much more receptive when you suggest further benefits of your Merc

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

edes to them because now your are not positioned against them but rather in agreement with them. The same applies when a prospect makes an objection regardin

.

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

a specific aspect of your product, don’t disagree, acknowledge the objection and then show, don’t ‘tell’ the prospect why that objection is in fact not a di

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

Companies that provide selfless information through particip

sadvantage. In other words don’t overcome your prospects objections, help them overcome their own! If you say it they can doubt you, if they say it it’s true

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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Useful Advices - How To Get Your Prospect To Overcome Their Own Objections

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