Useful Advices - Business

Accenture recently published the results of their global study of Executive Priorities for 2004. Selling - acquiring new customers - is Pr

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

iority 1, and Selling - Retaining Customers - is Priority #4. Selling is clearly a major concern among company executives.

Acquiring and

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

Examples of combination products may in

retaining customers is usually a major priority - that isn't news. Top salespeople are in great demand - that isn't news, either. What wou

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

ld qualify as real news? If more CEO's succeeded in developing a highly competent sales force.

Most CEO's have no idea what it takes to s

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

ell in today's marketplaces, and their Sales Managers only think they know. Most sales managers have been placing their hopes in getting s

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

Combination pro

alespeople to work "smarter and harder." They've been hoping that streamlining sales procedures will produce the results they need - more

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

sales. Has it worked? No. Will it ever work? No.

As long as sales managers stay grounded in the past, new Contact Management systems and

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

ustomer Relationship Management systems will merely automate obsolete selling practices. Huge cultural and economic changes over the past

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

ten years have forced almost every business function to adapt and innovate. But not sales; most sales organizations are still being manage

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

d as if it's still 1990.

Most sales managers and their salespeople are stuck in the old "Needs Selling" paradigm. However, their prospect

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

s and customers are now in the "Wants Selling" paradigm. Sales managers and their salespeople need to substantially change the way they th

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

Following aspects would a

ink and operate, if they're going to span the differences between the Old and New Sales Paradigms.

The traditional Needs Selling paradigm

dd to the challenges in developing combination products:

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

is briefly:

Find prospects who are interested in your products and services. Do whatever it takes to get an appointment. Then, do whatev

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

er it takes to get them to buy from your company. Let the service department handle customer satisfaction.

The new Wants Selling paradigm

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

is briefly:

Only make appointments with prospects when they are ready to buy your products and services. Treat your customers with respec

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

t, and insist they do the same. Make mutual agreements and mutual commitments with your prospects and customers, honor those agreements an

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

Professional from academic institutions, pharmaceutical industries, health care indust

d commitments, and insist they do the same. Base your business relationships on mutual trust and respect, and use that as the foundation f

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

or cross-selling throughout the company. Take personal responsibility for customer satisfaction and get plenty of referral business.

Ther

.

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

e is a world of difference between the Traditional and New Selling paradigms. Sales forces must learn new selling strategies and practices

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

Companies that provide selfless information through particip

. Only then will company executives succeed in fulfilling their top goals - to acquire new customers and to retain their current customers

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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One of the greatest ways to advertise if your company has company vehicles on the road is to shrink wrap the entire vehicle with an advertisement or a picture. There are of course challenges to shrink wrapping an entire vehicle and there are some pretty big costs compared to conventional vehicle advertising.

There is a saying that the pen is mightier than the sword, and history has proven it true. The ball point pen was invented in 1938 by the Hungarian journalist Laszlo Biro.

Every year companies spend millions in recruitment due to employee turnover. Turnover and its associated costs are a burden that used to be just the cost of doing business. But more and more companies are investing time and effort in making better hiring decisions and doing more to keep the employees they do hire. Employee retention is now a buzz word in today’s business world.

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Useful Advices - Execs' Top Priorities This Year: Acquiring & Retaining Customers

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