Useful Advices - Business

(Objection handling tips excerpted from Objections! Objections! Objec

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

tions!)

People buy people. If everything else were equal wouldn’t yo

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

Examples of combination products may in

buy from the person that you liked the best? Of course you would and

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

so do your clients. This may seem obvious but it is a fact that’s o

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

ten overlooked by most salespeople. This is a shame because it’s a fa

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

Combination pro

t that we can use to great advantage when selling.

Most clients are

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

orried that you are going to push something onto them that they don’t

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

want. Why? Because we’ve all experienced salespeople in our lives who

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

do this. By focusing on the relationship and not on the sale you star

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

to put your clients more at ease. This allows them to stop worrying

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

hat they are about to get “pitched”.

When I teach this simple techni

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

Following aspects would a

que to delegates and they get on the phones and try it they are alway

dd to the challenges in developing combination products:

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

amazed at just how effective it really is.

Objections:

“We’ve got

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

o need…”
“We’ve got no budget…”
“It’s the end of the financ

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

al year…”
“It’s not my decision…”
“You need to speak to som

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

one else…”
“Etc.

The “Building Relationships” Answer:

“That’s

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

Professional from academic institutions, pharmaceutical industries, health care indust

ine. At this point most of my competitors would ask you when you do h

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

ve a budget and arrange to call you back then. We at … (name company)

.

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

… believe that business is built on relationships and I would still l

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

Companies that provide selfless information through particip

ke to invest the time in getting to know you now. Tell me John, how…?

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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Having the correct attitude may almost seem like a trivial thing among all of the daily tasks that need to be accomplished with running any sort of business. Although, having the correct attitude will determine which direction your business will continue to grow, and ultimately the success of your business.

Attention Small Business Owners: Headlines are everything! Whether you're mailing a sales letter, placing a yellow page ad, or trying to sell through your web site, you need a compelling, grab-your-reader-by-the-lapels headline.

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