Useful Advices - Business

Business leads are what keep businesses surviving and ultimately thriving.

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

Business owners to executives to sales teams regularly reap networking lead

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

Examples of combination products may in

, conferences leads and trade shows leads. Direct mail pieces are regularl

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

sent. The question is what is happening to all of these business leads ge

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

nerated by these massive efforts? In many cases, the honest answer to this

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

Combination pro

question is nothing.

For example, if you attended a networking event, did

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

ou follow-up on every lead? Yes, you may have made one call and left a voi

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

ce mail. But did you call back until you reached that individual. This is

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

real follow-up. One of the key sales skills necessary in closing a sale fo

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

increase sales.

Possibly, you displayed at a local trade show. Your fish

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

owl was loaded with business cards. Did you contact every business from th

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

Following aspects would a

ose cards immediately after the event. One of my colleague pre-addresses th

dd to the challenges in developing combination products:

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

nk-you notes and mails these cards on the same night of the trade show. In

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

many cases, these card arrives before the individuals return to their offic

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

es.

Then, what action did you take? Did you follow-up a second time, a th

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

rd time until you actually reached the person? Are you using your sales sk

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

Professional from academic institutions, pharmaceutical industries, health care indust

lls to increase sales?

Each business card is an opportunity to build a rel

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

ationship with is the second step in the sales process. By not making a r

.

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

al contact with the holder of that card, you have demonstrated that you are

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

Companies that provide selfless information through particip

in the business of card collection and not in the business of closing sales

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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Whilst some of the world's most successful corporations attribute their success to Lean Thinking – others who have attempted to emulate their success have been frustrated by a lack of progress. In this article we consider why 'going lean' is so difficult.

Due Diligence is a phrase that has been traditionally used to reflect the analysis activities that occur during merger and acquisition activities. Recently the due diligence process has been extended to include the evaluation of business affiliation and partnership agreements.

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Useful Advices - Are You In Business Leads Collection or Closing Sales?

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