Useful Advices - Business

Your sales day, week and month are full of scenarios.

Each one is unique as to how, when and why they occur. But what's not unique is how often they occur i

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

n similar situations, similar prospect titles of contact and similar companies by industry.

For example...

Why do sales cycles get so drawn out, causing cl

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

Examples of combination products may in

sing ratios to plummet? It's because salespeople fail to identify all significant decision-makers in line with their selling proposition.

Now, wouldn't you

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

ay that's a significant scenario?

Simply because they have not identified the significant decision-makers, the right people will not be around the table to

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

airly evaluate the proposition to give a "yes" or a "no."

So, let's attach a name to this scenario for a common language approach. Let's call it "All the Ki

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

Combination pro

gs Men."

Next, I suggest that you develop some Powerful Routines (which are basically results-oriented tactics) to combat this undesired scenario.

Think of

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

Powerful Routines as your magic bag.

You reach in and pull out the appropriate tool to improve your success ratios. These tools work in any scenario, whethe

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

r within a selling process or an essential competency

Would you prefer to cold-call 100% of the time? Or would you rather call on referral contacts?

A no-b

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

ainer, right?

So, if you like referral leads, do you have a system of Powerful Routines to maximize your percentage of referrals?

It can be as simple as de

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

eloping a post-sale 3-minute interview, where you set the stage with your new customer. You can say, in plain words, how important referral business is to yo

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

personally. Then, you and the customer can agree as to what objectives you must meet to be awarded these critically important referrals.

Most sales organiz

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

Following aspects would a

tions have some sort of referral program. However, few provide training of Powerful Routines to get the most out of them.

Do you track referral ratios and r

dd to the challenges in developing combination products:

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

utinely discuss them?

Why do some of the sweetest referral programs have ratios at or below 20%? 20% is absurdly low. But, add Powerful Routines referral sc

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

narios and track the results. The difference is astounding.

In the Business of Core Competencies, students receive a Competency Assessment Tool. This softwa

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

re screen shows their personal performance status.

At a glance, they can see where they are struggling. What an opportunity! You can train to their weak poi

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

ts before bad results appear. It's as simple as identifying the troublesome scenarios, then attaching the Powerful Routines to fix them.

We've developed a c

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

Professional from academic institutions, pharmaceutical industries, health care indust

mplete system with a series of Powerful Routines. These Powerful Routines deal with specific scenarios that occur when telephoning prospects. And because of

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

training focus on those components, the system provides proactive communication flow toward confident appointment setting.

You need to build your own libra

.

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

y of Powerful Routines. The Competency Assessment tool is a huge asset toward that end. But, however you build your library, it is critical that you build it

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

Companies that provide selfless information through particip

These Powerful Routines can help you turn around undesired scenarios. Identify, train to and measure them so you can routinely achieve your desired results

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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Useful Advices - Powerful Routines; Identifying Sales Scenarios and Developing Best Practices for Improvement

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