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Useful Advices - Why People Really Buy Anything
Before you can understand the sales process, first you must understand why people really buy anything. If we know how people make buying decisions, what reasons they base them on and what motives lie behind their decisions we will be equipped to direct our sales presentation
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
correctly and effectively.
For someone who has worked in direct sales for over 23 years it is t is truly staggering to see how little time sales companies and their sales people spend discussing the buying process. How can you sell if you don’t know how people buy? You c
For someone who has worked in direct sales for over 23 years it is t is truly staggering to see how little time sales companies and their sales people spend discussing the buying process. How can you sell if you don’t know how people buy? You c
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
an’t!
We are going to discuss three rules of why people buy which we help us to direct our sales presentations to where they will work best.
Rule 1 People buy for emotional reasons
One of the biggest mistakes that is made by all salespeople is: they feel comfortable if th
We are going to discuss three rules of why people buy which we help us to direct our sales presentations to where they will work best.
Rule 1 People buy for emotional reasons
One of the biggest mistakes that is made by all salespeople is: they feel comfortable if th
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
ir product is cheaper than that of their competitors. They then try to show their customers as many features of their product as possible and if they don’t make the sales, drive away thinking ‘if my product was just a little bit cheaper I would have made that sale’.
We ofte
We ofte
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
n feel that if we prove with lots of facts, figures and features that our product is the best value, people will buy from us. The truth of the matter is people buy for emotional reasons and then justify that decision with the facts later.
An example of that would be a man d
An example of that would be a man d
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
cides to buy a new BMW. His factual justification is, its tax deductible, it will have a good retentive resale value, it will cost him less in repairs because it a quality car and it will be more reliable etc.
The actual emotional reason he bought it was because he would fe
The actual emotional reason he bought it was because he would fe
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
el good when he drove it and his friends would respect him more because he looks successful. Once we accept that fact that will massively alter the way we sell to our customers.
Rule 2 They buy because they want it or need it
Although there has been a plethora of books wr
Rule 2 They buy because they want it or need it
Although there has been a plethora of books wr
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
tten on buyer’s motives, you can simplify the whole process as follows: there are only two reasons people buy anything:
• They need it
• They want it
Needs tend to be thing we have to spend money on i.e. ‘utilities’. These include the food we eat, our gas, electric a
• They need it
• They want it
Needs tend to be thing we have to spend money on i.e. ‘utilities’. These include the food we eat, our gas, electric a
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
nd water bills, our rent or mortgage, council tax bills and transportation and food and petrol etc. How happily do we spend money on the things we need? Often times paying for our needs are considered a chore! Do you ever hear of people who are feeling down paying their gas
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
ill early as a form of retail therapy? No!
We do not get excited when we spend on needs, if we want to change our utilities suppliers we tend to make the decision based on price. Generally they are non-emotional decisions based on logic. Because they want it
This really i
We do not get excited when we spend on needs, if we want to change our utilities suppliers we tend to make the decision based on price. Generally they are non-emotional decisions based on logic. Because they want it
This really i
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
s the biggest motivator when it comes to people making buying decisions. When you assist people to really want our products because of the difference it will make to their life styles, selling becomes easier and much more enjoyable. Wants really a much stronger driving force
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
in the buying process?
• Have you ever bought yourself a Kit Kat?
• Have you ever bought yourself some named brand clothing?
• Have you ever eaten in a restaurant?
• Have you ever been on a foreign holiday?
Have yo
• Have you ever bought yourself a Kit Kat?
• Have you ever bought yourself some named brand clothing?
• Have you ever eaten in a restaurant?
• Have you ever been on a foreign holiday?
Have yo
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
ever ‘needed’ to do any of the above? No, you the bought the above because you wanted to! When we ‘want’ to buy something we get enthusiastic about it, we enjoy it and we use it as a way to reward ourselves.
Rule 3 Meeting expectations does not make sales
The third thing
Rule 3 Meeting expectations does not make sales
The third thing
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
to remember about the buying process is this. Meeting expectation does not make sales.
The truth is, our customers expect certain features to come as standard with our products. They are not overly impressed when we mention them or are they particularly motivated to buy our
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
products when we list them. These features do have some importance because the absence of any features they expect would motivate them not to buy! The fact that your product has all these features is not enough in itself to motivate your customer to buy.
During your presen
During your presen
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
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
tation you need to uncover the emotional reasons behind your customers buying decision and be alert for signs of them. This is achieved by using skillful open ended questions and listening, no I mean really listening, to the answers your customers give.
Always aim your pro
Always aim your pro
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
uct at peoples wants and not needs. Slanting your products toward your customers wants is an easy sale, purchasing your product could be a way of rewarding themselves for all their hard work. Selling your product as a need is hard work as the buying decision will invariabl
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
y be based on price, which is dull, boring and uninspiring for you and your customer!
Finally, do not fall into the trap of thinking the more features you list the better value for money it will seem to your customer. Concentrate on the additional features or unique sellin
Finally, do not fall into the trap of thinking the more features you list the better value for money it will seem to your customer. Concentrate on the additional features or unique sellin
.
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
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
points your products has which will really excite them to buy. It is those additional emotional features and benefits that your product posses that will motivate your customer to buy your product.
This is a very quick overview of a very important subject. Any of our sales
This is a very quick overview of a very important subject. Any of our sales
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
seminars spend time explaining this topic in detail as we know it is the very basis of the sales process. If you can not attend one of our seminars please keep checking our website for other free articles at www.21ksa.co.uk , we also offer free support for sales people there
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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