Useful Advices - Business

One of the common mistakes salespeople make is they fail to recognize at what level they

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

should be selling their products or services. There are 5 possible sales levels where

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

Examples of combination products may in

you can direct your energy, time and talent in the sales process. They are selling at:

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

he product/service level. This is where the salesperson focuses primarily on the price

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

or features of the product or service and define their product as a commodity. The typi

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

Combination pro

cal reaction in this phase is to lower price due to a prospect’s price resistance or com

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

etitive pressure.

The transaction level. This is where the salesperson sees the sales

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

process in traditional terms – prospecting, the presentation, overcoming objections, clo

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

sing the sale. In most cases this approach still tends to focus on the process rather th

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

n the customer.

The solution level. This is where the salesperson brings a solution to

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

the prospect/customer for his/her specific problem/need. Although this is better than

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

Following aspects would a

selling at the transaction level it still focuses on the relationship between the custom

dd to the challenges in developing combination products:

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

r’s needs and the features/benefits of the product/service.

The relationship level. Now

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

we are getting more long-term customer focused. Selling at this level requires patience

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

, research, knowledge of the customer’s short and long term agendas, time, effort and a

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

illingness to walk away from those sales where there is not a clear win/win/win outcome.

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

Professional from academic institutions, pharmaceutical industries, health care indust

The stakeholder or shared fate level. Very few salespeople sell at this level. This

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

is where, if your customer loses in any way either directly or indirectly related to you

.

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

product or service, you lose also. If you are losing sales ask yourself a simple que

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

Companies that provide selfless information through particip

stion,

Am I selling at the right level with this prospect? If not, where should you be

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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Many small cleaning companies use sub-contractors to help them get the work done. But if you improperly classify a worker as an independent contractor when the IRS views them as an employee you could be liable for back taxes, penalties and interest! This article goes over some of the things you should watch for before subcontracting any of your cleaning jobs.

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Useful Advices - Are You Selling At The Right Level

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