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Useful Advices - Powerful Product Presentations, Your Most Potent Tools, Part 3 of 3
In the marketplace, value is built, profit is protected and sales are closed by salespeople who possess superior presentation
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
skills. There are tools that can separate you from the crowd if you take the time to master them. If you don't, you will fin
; 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
d yourself leaving prospects under served and sales opportunities lost. Here is one of those tools.
In this, the third in th
In this, the third in th
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
e series, I want to draw your attention to an area of the presentation that the majority of salespeople overlook on a regular
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
basis. It's the area of emotions or feelings. It has often been said that customers make buying decisions emotionally but ju
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
stify those decisions rationally. As a sales manager, I saw that statement proven true every day.
That then begs this questi
That then begs this questi
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
on. "Why do so many salespeople neglect involving the customer's emotions when presenting a product or servi
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
e?" Often salespeople will "show and tell". The 'show' what a product will do and then they will
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
'tell' what the benefits are. Rarely will they talk about what the customer will 'feel' as they experience these benefits.
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
In many ways this is becoming a lost art. Today, we are shown everything in multi-media sensory overload. Need proof? Watch a
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
30 second television commercial to see what I mean. Many of those commercials will flash 30 plus different images at you try
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
ing to make their point. Modern film does much the same thing. They leave nothing to the imagination.
A good book or an old
A good book or an old
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
classic radio program plays not to your eyes, but rather, to your imagination to create a 'mental movie'. The great part of a
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
mental movie is that we, as individuals do our own editing.
So the next time you are presenting your product or service, en
So the next time you are presenting your product or service, en
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
ourage your prospect to create their own mental movie with a comment like these. "Just image how you will feel after you
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
entertain your friends in your new hot tub." or "Just image how good you will look in this new suit. You will be t
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
he envy of all your coworkers."
You get the idea. Simply make the suggestion and your prospect will script the movie. I
You get the idea. Simply make the suggestion and your prospect will script the movie. I
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
nvolve feelings in every possible selling opportunity and watch your closing ratios soar.
This is the third in a series of t
This is the third in a series of t
.
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
hree articles on presentation tools, please check out the other two if you haven't seen them and then I invite you to visit 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
s to discover how to add to your selling skills toolbox to close more sales and earn more money. Because getting paid is good
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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