| Useful Advices |
Hubs | Hubbers | Topics | Request |
| #1 in Business | Subscribe Email Print |
|
You are here: Home > Business > Sales Management > A Fresh Approach To Managing Your Most Important Accounts |
|
Useful Advices - A Fresh Approach To Managing Your Most Important Accounts
Most companies are looking for ways to manage their most important business relationships more effectively and more efficiently. It is not easy to do and it is not always enjoyable to do, but wh 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 en a major account strategy works well it is extremely satisfying. Major Account Management is a broad subject and this series of articles is designed to help make the management of major accou ; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug. Examples of combination products may in nts; Easier More Enjoyable More Effective Starting Point: There are many definitions of major account management but my favourite and one I have used throughout my work, is from The lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together. Financial Times: “The art of developing long-term relationships with selected customers” It is simple, clear and it shows us what is important. This summary looks at each part of th 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 definition i.e. o Major Account Management is an art not a formula. o It is a process of development, not a single action. o It is a long-term process. It takes time. o It involves rel d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations. Combination pro ationships, not just a mechanical approach. o It can only be done with selected customers. Major Account Management Is An Art Not A Formula: One can often see two ways of managing majo 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 r accounts that are certain to fail. The first is management by chance. There is no control. There is no plan. No one can explain why we are winning the business or forecast how long our success 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 will last. We do not learn from our mistakes or from our successes. This is at one extreme. At the other extreme is management by formula. Here everything is documented, controlled and decided. nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically I have seen one account planning process which demands that for every account the team must hold a one day orientation meeting, then gather information for twenty-one working days and then hold 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 a two day planning session. The timescale cannot be changed. The people who must be present never change. The documents that must be prepared are described in detail. The process is a good one ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi ut it leaves no room for flexibility, common sense or the differences that exist both between accounts and departments. We need a way of managing major accounts that is effective, consistent and ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it. Following aspects would a flexible. We need a way of working that is simple but strong. We need discipline and we need creativity. So, how is Major Account Management like an art? Discipline: Artists ne dd to the challenges in developing combination products: Which markets to tap where the combination products can do fairly well? Which combination prod ed discipline. Think of the discipline of a dancer or a singer, they know that they work best if they create inside disciplines of their art. A poet follows certain rules of rhyme and structure cts are meaningful and rational? Which therapeutic categories to select? Which Combinations can address unmet needs of the patients? Do combin and a painter knows the disciplines of colour and line. Practice: Every artist expects to practice. The painter sketches, trying different compositions, actors rehearse until the words tions increase the patient compliance? What would be the developing cost? How to tackle the risks encountered during combination product developmen re coming perfectly; the dancer works at the bar to keep fit and to perfect every movement and musicians play the piece over and over again. The performance often looks easy but we know that it 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 took a great amount of work. Creativity: Discipline and practice alone will not make an outstanding artist. There needs to be a spark - something special that allows the artist to see w ping new procedures for reviewing their safety, efficacy and quality. Professional from academic institutions, pharmaceutical industries, health care indust hat many others miss and to communicate their understanding powerfully and clearly. The artist allows us to see and hear things differently. Managing a major account needs all three parts. Disc y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products pline helps us follow the plan, to be self-controlled. Practice means that we do not expect to be perfect overnight, we think and plan and prepare for every important “performance”. Creativity a . 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 llows us to change the past, to find new ways to solve problems and to win opportunities. If we think of Major Account Management as an art then we will avoid the two dangers of working randomly elopment. They need to be wiser in analyzing the market trends and the regulatory requirements. Companies that provide selfless information through particip and working rigidly. In Part Two, I identify that: “Major Account Management Is A Process Of Development, Not A Single Action” Copyright © 2006 Jonathan Farrington. All rights reserve tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
HTTP = HTML link (for blogs, profiles,phorums):
Related Articles:Are You Overlooking Benefits Due To You? Six Sure-Fire Ways to Get Yourself a Pay Rise Is Your Marketing Effort Working?
|