Useful Advices - Business

Want to get your business or career into high gear? Look first at the top line on a profit and loss statement - revenue is the engine that drives all businesses. What's the bes

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

t way to add value and increase revenue? Needs satisfaction sales techniques.

Many people think of sales as a dark art or as something that's practiced by con artists. Done pr

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

Examples of combination products may in

operly, sales is nothing of the sort - it's merely a process. Like a carpenter building a house, a needs satisfaction salesperson uses a step by step process to satisfy custom

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

er needs. Far from a con job, it's a needed and helpful customer service.

Every time we come into contact with a customer we are selling. Follow the below steps to help custom

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

rs and get your business into high gear.

Step 1. Qualify

Find out whether or not you are dealing with a customer. A "customer" can be defined as someone who does or ma

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

Combination pro

y need or want your product and who has the immediate ability to purchase it.

When first dealing with a customer, qualify yourself. Explain to the customer why you are an expe

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

rt in your product line. Tell them that you want to find out about their purchase so that you may use your expertise to help them.

Step 2. Profile

Gain as much informa

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

ion as possible about the customer and their needs and wants. Find out the who, what, where, when and why of their purchase decision. Ask as many questions as are reasonable in

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

the context of the product or service that you are selling.

Generally, the larger the purchase the more complete the purchase profile. Attempting to sell a shirt with the det

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

ailed profile required to sell a nuclear power plant will have your customer searching for the nearest exit. In the reverse, your customer will question your ability and the le

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

itimacy of your company.

Step 3 Demonstrate and Gain Agreement

Using the information gained in (and, in many instances, as part of) step two, interact with the custome

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

Following aspects would a

r to demonstrate how your product meets their needs. If they are looking for a blue shirt, show them blue shirts and ask which shade of blue they had in mind. As you propose so

dd to the challenges in developing combination products:

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

lutions ("is this right shade of blue?") and the customer chooses from among them, you are accomplishing step 4.

Step 4. Finalize - the "C" word.

Closing a sale is no

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

t an event, it is a part of the process. Presuming that (a) you've identified your customers needs and wants and (b) your product or service meets those needs and wants, closin

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

a sale is the natural outcome of your contact with the customer. If a customer describes a shirt that they wish to purchase and they've agreed that the shirt in your hand is t

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

hat which they've described, the sale is closed except for the paperwork.

Step 5. Overcome Objections

If at any point the above process stalls or stops, it is what's

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

Professional from academic institutions, pharmaceutical industries, health care indust

termed "an objection" which is usually a communications failure. Except in relatively rare instances of a "hard" (insurmountable) objection, either you've misunderstood or you'

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

e been misunderstood at some point in the process.

While we'll leave specific techniques for overcoming objections for a future article, in general objections are overcome wit

.

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

h more or better information. Find out as much as possible about the objection (profile it); from that information determine where the communications failure lies and correct i

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

Companies that provide selfless information through particip

t.

Sales is a key component of any successful business. Learning and practicing needs satisfaction sales techniques can make the sales process as enjoyable as it is profitable

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.usefuladvices.org.ua/article/36344/usefuladvices-Be-a-Successful-Salesperson-in-Five-Steps.html">Be a Successful Salesperson in Five Steps</a>

BB link (for phorums):
[url=http://www.usefuladvices.org.ua/article/36344/usefuladvices-Be-a-Successful-Salesperson-in-Five-Steps.html]Be a Successful Salesperson in Five Steps[/url]

For the longest time I have been uncomfortable with the various labels we place on our customer facing activities. They are referred to as

Many business owners think the only way to promote their services is to advertise. But advertising can be expensive and sometimes even a complete waste of money. There are more effective ways to promote your business using the press, so let's get started with three of them.

Tags

Links

Useful Advices - Be a Successful Salesperson in Five Steps

Related Articles: