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Useful Advices - The Three Reasons Your Sales Stink
Is your organization currently meeting its sales goals?
Besides your market's leaders, who continually meet and surpass their sales goals, a good majority of those in your indu
Besides your market's leaders, who continually meet and surpass their sales goals, a good majority of those in your indu
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
stry are failing to meet their productivity, sales and revenue expectations.
Although they give many excuses for this (the economy, too much competition, seasonal business, the
Although they give many excuses for this (the economy, too much competition, seasonal business, the
; 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
sun and the moon aren't in alignment, etc.), there really are only three reasons for poor sales. Here they are:
1. No Demand for Your Product or Service
The first reason is
1. No Demand for Your Product or Service
The first reason is
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
nobody wants your product or service. This is rarely the case.
There is a simple test to figure out if this is the reason for your stagnant sales.
- Have you been able to
There is a simple test to figure out if this is the reason for your stagnant sales.
- Have you been able to
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
sell your product or service in the past?
- Is another salesperson successful in selling your product or service?
- Is another organization successful in selling your
- Is another salesperson successful in selling your product or service?
- Is another organization successful in selling your
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
product or service?
If the answer to any of these questions was "yes," there is a market for your goods. Therefore, it must be one of the other two reasons.
2. Ineffective M
If the answer to any of these questions was "yes," there is a market for your goods. Therefore, it must be one of the other two reasons.
2. Ineffective M
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
arketing and Advertising
The second reason for poor sales is your ads and marketing are ineffective. The goal of your advertising is to get your phone to ring, hits on your we
The second reason for poor sales is your ads and marketing are ineffective. The goal of your advertising is to get your phone to ring, hits on your we
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
site or walk-in customers.
The only way you'll accomplish this goal is to distinguish your organization as the one to do business with in your industry. By tracking and measur
The only way you'll accomplish this goal is to distinguish your organization as the one to do business with in your industry. By tracking and measur
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
ing all of your ads, you should know which ones are working and which ones you should modify or cancel immediately.
3. Your Salespeople Don't Fit their Jobs
The third and mos
3. Your Salespeople Don't Fit their Jobs
The third and mos
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
common reason for poor sales is the 80/20 Dilemma. Unlike your Market's Leaders, you haven't beaten the 80/20 Dilemma; where 80 percent of your sales come from just 20 percent
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
of your salespeople. The dilemma robs your managers of their time and energy and is the most costly issue in sales.
To improve your sales, your number one goal this year is t
To improve your sales, your number one goal this year is t
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
o beat the 80/20 Dilemma. Let me reword that: Not only beat it, but conquer it.
To do so, you must first understand why it has seized your sales force. Here's the hones trut
To do so, you must first understand why it has seized your sales force. Here's the hones trut
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
: You simply have hired the wrong people to sell your product or service. Perhaps not all of them, but 80 percent of them.
A recent study of salespeople found that half of th
A recent study of salespeople found that half of th
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
e people in sales should have never been hired in the first place. I'm sure you'd agree that the sales profession requires natural qualities that not everybody has.
Of the rem
Of the rem
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
ining 50 percent, only half of them will achieve their potential. There are two reasons for this. One, they are trying to sell the wrong product or service. Two, their skills
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
are never properly developed.
That leaves the 20 to 30 percent who are in jobs they fit. They are the people who sell 80 percent of your products and services.
You must real
That leaves the 20 to 30 percent who are in jobs they fit. They are the people who sell 80 percent of your products and services.
You must real
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
ze, your TOP Performing sales people don't meet their goals because they have a great product or service to sell. They don't meet their goals because your advertising and marke
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
ting distinguishes you as the one to do business with in your industry.
It still comes down to salesmanship. If quality products and services, and great ads and marketing were
It still comes down to salesmanship. If quality products and services, and great ads and marketing were
.
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
their reason for goal accomplishment, wouldn't all of your sales people be exceeding their expectations? If they are, you have succeeded in "Job Fit."
If not, you need to make
If not, you need to make
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
hiring, developing and retaining only TOP Performing sales stars your number one priority. It is the quickest and easiest way to insure you meet your sales goals in the future
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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