Useful Advices - Business

Have you ever wondered why sales managers are so insistent that you cold call?

Have you ever wondered why many companies will n

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

ot even consider a marketing budget, and instead mandate cold calling, make it a job requirement, and tell you you’ll be fired i

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

Examples of combination products may in

f you don’t do it?

Doesn’t it seem a bit strange that you’d be paid so much in salary just to run around collecting fifty busin

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

ess cards a day, or making fifty telephone calls when your talents are so much better than that?

There is a reason for all this

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

insanity. It’s the dark side of cold calling, and the real reasons why many companies still force salespeople to engage in thi

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

Combination pro

s old, antiquated method of doing business.

First of all, cold calling doesn’t cost the company money. It costs you money. Th

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

ey get to avoid spending money on marketing, and instead they let you do the hard work of cold calling. This is in spite of the

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

fact that cold calling has the lowest returns of any and all sales activities, and therefore leaves you with the lowest possible

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

paycheck.

Second, cold calling doesn’t cost the company time. If they wanted to put together a marketing plan they’d either h

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

ave to hire more employees to do it, take current employees away from other duties, or hire an outside firm to implement it. In

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

stead, they tell you to do it. This saves manpower and eliminates the need to either hire new employees or hire an outside cons

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

Following aspects would a

ultant. The end result is that is costs you time and forces you to waste your valuable time on the lowest-percentage sales acti

dd to the challenges in developing combination products:

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

vity instead of on something more productive.

The insanity of all this is that trying to save time and money by forcing you to

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

cold call ends up costing the company huge amounts of time and money! It obviously isn’t profitable to have salespeople cold ca

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

ling when it consistently has the lowest returns of all sales activities. However, they do it anyway, with the belief that it’s

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

a smart way to cut corners. The fact of the matter is that having salespeople cold call is penny-wise and pound-foolish. It l

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

Professional from academic institutions, pharmaceutical industries, health care indust

ets companies cut corners in the short term, but with very dire long-term consequences. Cold calling, when relied upon as the m

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

ain source of new business, frequently leads to lost profits, downsizing and even bankruptcy.

Companies that are succeeding tod

.

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

ay don’t bother with cold calling. They implement a marketing plan that generates qualified leads, and they provide those leads

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

Companies that provide selfless information through particip

to the salespeople, who simply go out and close them. This is the only sensible way to do business in the twenty-first century

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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