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Useful Advices - What's A Sales Culture?
Hopefully you've taken the time to clarify the roles of your sales team and sales management. It's a valuable exercise. Now you get to assess sales team strategy and culture. Regardless of your methodology half o
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
f your sales representatives currently perform below average. Fifty percent are performing below average! Think about that. This is an indisputable fact. So why even assess the team? Simply put, to sell more.
Su
Su
; 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
ccessful selling organizations consist of three components; investment, activity and results. The first component is the investment in the sales team. The investment is measured in compensation, benefits, compute
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
rs, software, training, hiring, meetings, sales material, phones and other related expenses.
The second element is the activity of the investment. Face-to-face meetings, travel, preparation, telephone calls and
The second element is the activity of the investment. Face-to-face meetings, travel, preparation, telephone calls and
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
administration comprise the second element. The third, and vital, component stands alone; results. How many sales were generated? Profits? Current market share?
The glue that binds the three distinct parts inclu
The glue that binds the three distinct parts inclu
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
des your people, culture and customers. Is there a career path for salespeople? What is your turnover rate? Who are the sales heroes? What is driving the team to achieve?
The best sales managers and sales teams
The best sales managers and sales teams
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
recognize four productivity drivers.
1. Sales research-information related to market trends, target markets, customers, trends, etc.
2. Investment and organization-size, structure and deployment of sales team a
1. Sales research-information related to market trends, target markets, customers, trends, etc.
2. Investment and organization-size, structure and deployment of sales team a
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
llows you to get the right people at the right place at the right time.
3. People-selection, training, managing, motivating, evaluation and termination.
4. Sales systems and processes-compensation, incentives,
3. People-selection, training, managing, motivating, evaluation and termination.
4. Sales systems and processes-compensation, incentives,
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
benefits, internal support, etc.
Tests and surveys remain the most effective way to assess salespeople. Companies rarely assess sales management instead relying on results to determine effectiveness.
A successf
Tests and surveys remain the most effective way to assess salespeople. Companies rarely assess sales management instead relying on results to determine effectiveness.
A successf
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
ul selling organization operates in a progressive culture. What's a culture? That's best answered by the following story.
Six apes were placed in a room with a ladder. A bunch of bananas hung from the center of
Six apes were placed in a room with a ladder. A bunch of bananas hung from the center of
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
the room. One ape started to climb the ladder for the fruit and the entire room was showered with cold water. This happened a few times until any ape that wandered near the ladder was beat up by other apes. A new
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
guy replaced one of the original apes. The new guy, wanting to be a hero, headed for the ladder and received a thorough beating. He learned not to go near the ladder. Eventually every one of the original apes wa
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
s replaced. The beatings continued. The replacement apes were unaware why they were prohibiting others from going near the ladder. They just knew the ladder was off limits.
That's a culture. Are there any new ap
That's a culture. Are there any new ap
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
es on your team following old practices without knowing why? Cultures evolve over time and their origins are rarely known. Does your sales team have a culture? I bet it does. Is it a good one? Sales cultures cons
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
ist of three elements:
? Norms-how individuals actually behave.
? Values-how individuals should behave.
? Work styles-diligent, tardy, professional, thorough, detailed, casual?
Changing negative cultures repr
? Norms-how individuals actually behave.
? Values-how individuals should behave.
? Work styles-diligent, tardy, professional, thorough, detailed, casual?
Changing negative cultures repr
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
esents a significant challenge but is mandatory…if you want to stay in business. People are the agents of change and must be supported by management. Who are the heroes of your sales team? How long have they been
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
the department hero and for what reason? Knowing these answers will help you assess your culture.
You must first formulate your vision of the sales team and evaluate all key contributing factors. Great companie
You must first formulate your vision of the sales team and evaluate all key contributing factors. Great companie
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
s communicate their vision clearly and frequently with all sales related personnel. Don't leave anyone out that comes in contact with your sales team.
Next, you must put your vision in action by rewarding indivi
Next, you must put your vision in action by rewarding indivi
.
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
duals for acting in concordance with your vision. This is a process not a destination but as it evolves your sales will increase and profits will soar.
This takes courage. You need to ask and answer tough questi
This takes courage. You need to ask and answer tough questi
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
ons. Dedication to a better selling team is required. Don't give up until your vision is clarified, communicated and leads to rewarding the winners.
"Only the wisest and stupidest of men never change." Confuciu
"Only the wisest and stupidest of men never change." Confuciu
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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