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Useful Advices - Secrets of Trade Show Selling: #1
Have you ever wondered why people exhibit at trade shows? Why they take the time? Why they spend the Money? And why most of them w
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
alk away with little or nothing to show for the effort? The First Secret of Trade Show Selling is "Exhibiting with a Purpose."
T
T
; 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
ere are many great reasons to have an exhibit at a trade show, including:
Product evaluation, Strengthening customer relationship
Product evaluation, Strengthening customer relationship
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
s, Educating the public, Generating new sales leads, Enhancing corporate image, Community awareness / publicity, Conducting market
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
research, Introducing new products / services, Understanding the competition, Providing community service,Conducting retail sales,
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
and Recruiting new staff.
The truth is the reasons to exhibit are many and varied -- and therein lies the problem. A booth that
The truth is the reasons to exhibit are many and varied -- and therein lies the problem. A booth that
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
attempts to accomplish too much often accomplishes nothing.
The challenging part is to select and focus on just ONE reason as you
The challenging part is to select and focus on just ONE reason as you
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
primary purpose for exhibiting -- and let that reason dictate everything else about your booth, from its location and design to i
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
s staffing and operation. You can also choose ONE or TWO more reasons to serve as secondary purposes -- but you most definitely c
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
an't do them ALL and expect to do ANY of them well.
Each PURPOSE dictates many specific requirements in terms of booth location,
Each PURPOSE dictates many specific requirements in terms of booth location,
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
ayout, design and staffing in order to be successful. If you don’t know what your purpose is, it’s unlikely that your booth will p
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
oduce much of a result -- so either know your purpose before you begin or just go to the show as an attendee.
In fact, depending
In fact, depending
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
on your business, your purpose may be better served by abandoning having a booth at trade shows altogether and focusing on simply
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
TTENDING the trade show instead. Particularly if you’re involved in a business-to-business enterprise, working the floor may be y
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
ur best bet! After all, the people you want to meet may be staffing the booths throughout the trade show. Rather than trap yourse
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
lf in the responsibilities of having a booth yourself, simply visit your prospects’ booths. Just remember that your prospects’ pri
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
ary reasons for exhibiting were probably NOT to meet with you -- but to find more customers of their own. Don’t get in their way
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
nd expect them to want to do business with you.
The bottom line of our first of the Secrets of Trade Show Selling is to EXHIBIT O
The bottom line of our first of the Secrets of Trade Show Selling is to EXHIBIT O
.
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
N PURPOSE -- decide what your focus is before you proceed. Once you know what you’re trying to accomplish, your next step is to u
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
derstand the second of the Secrets of Trade Show Selling – “Location, Location, Location” which we will explore in another article
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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