Useful Advices - Business

“I am Sam. Sam I am. Do you like green eggs and ham? Would you like them here or there? Would you like them in a box, would you like them with a fox?”

I think most people have read this Dr. Seuss tale either as kids or to their

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

children. What is interesting is the relevance this story has to selling. First of all, Sam is selling a product and although his prospect is not initially interested, Sam doesn’t let that deter him from asking. Secondly, Sam con

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

Examples of combination products may in

sistently offers the prospect a choice when trying to close the sale. Thirdly, he refuses to give up. No matter how many times his prospect says ‘no’ Sam keeps offering alternatives. In fact, he offers fourteen options before he

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

finally closes the sale.

Now, I am not suggesting that you pester your customers or prospects but I do believe most people give up too early in the sales process. We hear a few “no’s” and decide to turn our attention elsewhere.

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

t is your responsibility as a sales professional to ask the customer to make a decision - you cannot expect a customer to do the work for you. If you have been effective in learning about their specific needs and current situatio

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

Combination pro

n and presented the appropriate solution to your prospect then you have earned the right to ask them for their money. Here are a few ideas that will help you reach this point:

Avoid launching into a lengthy discussion of what yo

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

u can do for your client until you thoroughly understand what business challenges they face and the problems, concerns or issues they need resolved. Use open questioning to gather this information and avoid making assumptions or

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

umping to conclusions too quickly. Instead, listen carefully to what they say and clarify anything that is not clear. Ask them to elaborate by using prompters such as “uh-huh,” “tell me more,” and “what else?”

When it comes time

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

to present your product or service, try not to limit the prospect to one option. Provide a choice of solutions that meet their specific concerns. Explain the benefits of each option, and when necessary, also discuss the drawback

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

s of each alternative. However, do not present so many options that the decision becomes overwhelming or difficult. Be prepared to tell your prospect which option best suits their needs if they ask.

Speak in terms they can under

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

tand, avoiding the use of terminology they may not recognize. A case in point; as I developed my web site, I found myself talking to people who were extremely knowledgeable but they used terminology that sounded like a foreign la

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

Following aspects would a

nguage to me. I found myself getting frustrated, and in some cases feeling a bit dumb, because I had to keep asking them what they meant. Be very cautious how much jargon you use in your presentations and make sure your customer

dd to the challenges in developing combination products:

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

understands what you are saying.

Recognize that objections are a natural component of the sales process. It’s common for a customer express several objections before she makes the decision to commit to the purchase. Don’t take t

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

hese objections personally and do not assume that it means the other person is not interested. Understand that your prospect will likely have specific concerns about making a decision particularly if they have never done business

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

with you. Clarify their objections to uncover the true hesitation – do not hesitate to probe deeper to explore the real issues preventing them from making a decision. In most cases, your prospect will give you the information you

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

need providing you keep your approach non-confrontational and neutral. Learn to handle objections in a non-argumentative manner. When you uncover their true objection keep your response brief and to the point. Talking too much w

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

Professional from academic institutions, pharmaceutical industries, health care indust

ill seem that you are trying to justify your product or price. Plus, you can sometimes talk yourself out a sale if you aren’t careful.

Ask for the sale. In many cases, your prospect expects you to ask for the sale. And as long a

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

you do not pressure or try to coerce them into making a decision, they won’t be offended by your request. Develop the confidence to ask for the sale in a variety of ways and begin asking every qualified person for their commitme

.

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

nt. Recognize that many people want to be given permission to make a decision and look to the salesperson for that permission.

Lastly, take a lesson from Sam and learn the importance of polite persistence. The most successful sa

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

Companies that provide selfless information through particip

les people ask for the sale seven or eight times and don’t give up at the first sign of resistance. Research has shown that these individuals consistently earn more than their coworkers and peers.

Copyright 2004, Kelley Robertso

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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Before you use 360 feedback techniques you should be aware that there may be legal risks and implications particularly if you use 360 feedback for the wrong things, or use it in ways that are legally questionable. Here's a brief overview.

Over the years, I guess I've attended thousands of corporate get togethers over dinner. I have, either as an out-of-towner or hosting out-of-towners attending a conference or workshop, observed the behaviour of individuals and teams at dinner and how they reflect the corporate culture. There are five corporate cultures which I have identified with behaviours at dinner.

Being wimpy in your self storage marketing efforts will only hurt you. Making bold, risk reversing offers in your marketing will drastically increase the ROI you get from your advertising budget. This article helps you distinguish between the two kinds of offers and teaches you how to make great offers.

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