Useful Advices - Business

Any time is a good time to sell creatively. Uncertain economic times are an excellent time to sell creatively. And, poor economic times require that salespeopl

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

e sell creatively. What exactly do I mean when I say sell creatively? When you look at the sales process, there are six major pieces: attitude management, pro

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

Examples of combination products may in

specting, presentation skills, disarming sales resistance and closing and servicing the customer for repeat and referral business. Let’s look at one (and there

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

are many) creative approach in each of the five areas.

1) Attitude management: It is easy to maintain a positive outlook and attitude when things are going wel

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

l. It is a challenge at best to maintain it when the world seems to be falling apart at the seams. I am fully aware of the disappointment that can be caused by

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

Combination pro

lost sales or customers. It is during these times that the real pro’s are able to rise above all of the negative hoopla and push on – no matter what. This ta

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

es courage, stamina, belief and an exceptional ability to put the negatives aside even though they seem to be assaulting you from every side. This requires 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

ability to compartmentalize your life and business - which is to focus on what you can do and not what you can’t, what you have and not what you don’t, where y

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

ou are and not where you are not yet.

2) Prospecting: This is an easy one: creative salespeople rely on referrals, strategic alliances, networking contacts and

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

advocates who want to help them succeed. If you have not developed them by now it is too late to take advantage of them during any present down times. But, it

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

is never too late to begin to cultivate these types of prospecting resources for the future.

3) Presentation skills: It is critical during these periods that

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

Following aspects would a

you focus on “real customer needs and desires” and not your own for survival. People buy when they are ready to buy not when you need to sell. This is the ti

dd to the challenges in developing combination products:

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

e to create a heightened sense of urgency through a unique selling advantage. If you don’t have one - get one. If you have it – now is the time to ensure yo

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

ur prospects are thoroughly aware of what it is. You MUST sell value in these times and NOT price. I know the tendency is to lower prices in the hopes of gett

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

ing your share of less available business, but remember, during these times prospects want and need sound reliable solutions not a quick cheap fix.

4) Closing:

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

There are closing techniques that close a sale and there are closing techniques that close a customer. See the difference? Closing the sale is a transactional

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

Professional from academic institutions, pharmaceutical industries, health care indust

process closing a customer is a relationship process. If your approach only closes the sale you have to keep reselling the customer again and again. When you

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

close the customer, the relationship closes the rest of the business.

5) After sales service: There is an old saying that says you must MEET customer’s expect

.

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

tions. There is a more recent one that states you need to EXCEED them. How about going to the next level and – see them as your primary reason for being in bu

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

Companies that provide selfless information through particip

siness and the only reason you have a job/career. The way you WOW a customer is to always deliver more than you promise and never deliver less than you promise

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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Often we read articles on the Internet about business from some pretty seasoned veterans indeed. Unfortunately all too often the people writing these articles are self proclaimed Gurus of marketing or advertising, who are not seasoned entrepreneurs.

Do you want more referrals? Just keep in touch with your clients. Learn different content strategies for keeping in front of your targeted audience.

What if -- every time you had a networking appointment with someone -- you invited a third person. Sound like a ridiculous concept? Why on earth would you want to do this? Aren't you taking the focus off of your business and putting it on someone else's? Here are 5 reasons why multiple meetings are beneficial.

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