Useful Advices - Business

Yup, it’s Girl Scout Cookie time in our part of the world. [And, yes, my English teacher DID tell me never to start a sentence with the word “Yup.”] For those of you who are unfamiliar with the sights, tastes, and overall experience of helping your daughters

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

sell Thin Mints, Samoas, and Do-Si-Do’s, you’re missing a fundamental and wide-ranging education about the dynamics of sales, selling, and salespeople.

Here are some points I’ve garnered while helping my daughter, Rebecca, age 11, and Troop 3129, make thei

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

Examples of combination products may in

sales numbers. These pointers are hard-earned, field-tested, and as applicable to you and your business as they are to Rebecca and hers.

1. It’s who you know. It’s true: the cookie business is a relationship business. Our next-door neighbor bought 9 boxes

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

– Bam! Neighbors on the other side, 2 boxes, then 3, then more. Why? Because Rebecca had something to sell. What’s your personal brand doing these days? If you switched products, services, or companies, would people buy from you JUST BECAUSE IT’S YOU?

2. I

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 not about the product. It’s time to get the lawyers upset. Ready? Girl Scout Cookies, for the most part, taste terrible [Thin Mints are the one exception, in my humble opinion]. And they have enough fat, calories, and cholesterol in them to power a small

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

Combination pro

apanese alternative fuel vehicle. You want good cookies? Buy Oreos, Mallomars, Ginger Snaps, Nutter Butters, Grasshoppers, Deluxe Grahams, Fudge Sticks, etc. etc. Yet Girl Scout Cookies sell like crazy, year after year, donating millions to the bottom line o

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

Girl Scouts of the USA.

3. It’s not about price. Girl Scout Cookies cost $3 a box. The smallest box, by weight, is 7 oz. and the largest is 10 oz. Most retail cookies come packaged in a “small” size of around 12 oz. and cost about $2.49. Girl Scout Cookie

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

even give premium brands, such as Pepperidge Farm, a run for their money when it comes to high cost. Did I mention one of our neighbors bought 9 boxes at a clip?

4. It’s not about need. Face it, nobody NEEDS Girl Scout Cookies. In fact, when the girls wer

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

out doing a “Cookie Shop” at a local hardware store (local merchants, malls, and grocery stores allow Girl Scouts to set up a table for sales on their premises to support the cause), the number one objection we heard was “I already have some Girl Scout Cook

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

es at home – more than I need!” So, why did they buy? Because they had a relationship with their salesperson that was more important than their need, desire, or use for the actual product. Hey, did you know that Girl Scout Cookies make great gifts, freeze re

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

lly well, and are only sold for a short time each year? Can you learn from this and apply the lesson to YOUR sales message?

5. It’s not about competition; it’s all about contacts and referrals. So who is selling to all those customers who “have Girl Scout

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

Following aspects would a

Cookies at home – more than they need?” Naturally, it’s their Girl Scout. What are the chances of Rebecca selling a box of cookies to someone whose daughter is also selling the same cookies for the same price? You got it: less than zero. Is Rebecca going to

dd to the challenges in developing combination products:

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

ang her head against the wall bemoaning those lost sales? Of course not. She’s going to tap into her network of networks – neighbors, cousins, kids and parents at the Y where she plays basketball, my former colleagues at my old job who have become good famil

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

friends (and Rebecca’s customers in previous years). Do you know how to fill your pipeline when things seem dry? Do you know how to move your prospects along to becoming customers, satisfied customers, and then customers-for-life – not of the product or ser

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

ice you’re selling today, but of YOU and whatever value proposition you might be offering now and in the future?

6. When times are tough and things look quiet, that’s the time to push harder than ever. Cookie sales end at a certain time each year. Right no

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

, we’re about two weeks away from the ending date, and there are Girl Scout Cookies being sold everywhere you look. We’ll probably have 10-12 boxes left over by the time the deadline comes. Are we depressed that we didn’t meet our goal? Are we failures as sa

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

Professional from academic institutions, pharmaceutical industries, health care indust

espeople? Only if we quit when it’s over. Don’t you see that as soon as everyone else stops selling, stops marketing, and stops with the “Cookie Shop” setups -- these cookies move up from a commodity to a valuable asset? It’s the same thing in your business:

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

when the market is down, your competition has pulled their ads, it’s “hunker-down” time, get back to basics, and cut, cut, cut! However, that’s the worst time to cut – you have everyone’s attention! There’s actually much less noise out there for your message

.

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

to compete against. Push now, and you’ll be heard!!!

What does this all mean to you and your business? It’s simple -- now is the time to get back in the saddle and ride your sales and marketing activities harder than ever. You’ve got the floor. You’ve got m

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

Companies that provide selfless information through particip

re relationships and more people rooting for you than you realize, and if you cut through the old excuses about your product, price, competition, the economy, and all the rest of it, you’ll see the sales breakthroughs that lie ahead. Why waste another minute

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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