Useful Advices - Business

Every business owner to sales executive receives numerous sales leads each and every day from networking events to Internet opt-in lists. Tracking all these business sal

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

es leads becomes a burden and may result in duplicate efforts. However, no matter the challenge, the end result is that some sales leads tracking system must be develop

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

Examples of combination products may in

ed or numerous opportunities may be lost forever.

During the last 10 years, I have tried a variety of marketing and sales leads tracking systems. I first began with in

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

dex cards as this was what I was using to before computers. (Yes, I am that old.) Then I began to use on-line services as well as programs within my own computer such 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

s Outlook. Colleagues shared with me their various systems using electronic spreadsheets. However, within all those tracking systems some of which were excellent, I stil

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

Combination pro

found myself not being consistent. And I know that consistency is critical in keeping both your marketing and sales funnels filled.

Recently, I set a goal to construct

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

and implement a sales tracking system that would deliver to me the following:

Tracking of all sales leads with critical information including any pote

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

ntial fact finding

Tracking of all calls for first time appointments including additional information

Tracking of all meetings along with next action

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

Tracking of all commitments and next actions

When I committed these objectives to writing, I realized that one of the tools that I currently use

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

to track daily activity could be modified to meet these objectives. This FHEM (flat head experienced moment) caused me to actually wince because the answer was in fron

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

of me this entire time.

I use a 4 point system to keep my marketing activity and selling activity focused so that I can secure the revenue goals within my strategic pl

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

Following aspects would a

an. This is a simple plan and I am not sure who invented it. Each week the goal is to accumulate 20 points or 5 points per day. You reward yourself as follows:

dd to the challenges in developing combination products:

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

One point for a lead

Two points for making an appointment

Three points for making the meeting

Four point for closing the deal or gainin

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

g commitment

I then constructed a spreadsheet where the first page was for leads, second page for appointments, you get the picture. Also, since I have the

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

habit of always acknowledging referrals I inserted after the leads page to make sure that thank you notes have been mailed.

Within my marketing plan, my goal is to spe

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

k at least two times each month because I consistently secure one client from each speaking engagement or keynote I added another page to track speaking engagements as w

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

Professional from academic institutions, pharmaceutical industries, health care indust

ell as again to ensure that I send the proper acknowledgements.

As your marketing and selling activity increases, having a funnel that is part of the

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

ref="http://EzineArticles.com/?id=89353">Five Universal Funnels Laws for Business and works with you is an absolute tool in your sales toolbox. Accept the fact that

.

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

this is a process of trial and error unless of course you are mandated to use a specific tool.

If you have the freedom to construct your own, then take the initiative

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

Companies that provide selfless information through particip

to do just that. The end result is that you not only own it, but it will be in alignment with your strategic plan allowing you once again to work smarter and not harder

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 - Developing a Marketing Funnel that Increases Sales and Works With You

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