Useful Advices - Business

For years, sales managers and sales trainers have been saying that sales is a ‘numbers’ game

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

. I can recall my first sales manager telling me over 35 years ago, “If you will see enough

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

Examples of combination products may in

people, you will make enough sales.” First of all what’s enough sales? Second of all, how

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

many is enough people? Thirdly, is this the best approach to take to prospect for new busin

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

ess? This is why I hate clich?s and managers and sales trainers who quote them only becaus

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

Combination pro

e that is what they have heard for years.

Back to my discovery. If you see enough ‘qualifie

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

d’ people you will make enough sales. It isn’t just the number folks, it is focusing on pro

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

spects who qualify for your product or service. Now with this concept I am not suggesting t

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

hat you should see fewer prospects. I am only suggesting that to just focus on the numbers

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

alone will guarantee failure – sooner or later. Why? The more people you see, the more you

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

will tend to see who are poor prospects, thus, more rejection. The average salesperson can

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

Following aspects would a

’t handle the amount of rejection that comes with this philosophy. This is why so many peop

dd to the challenges in developing combination products:

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

le become discouraged and fail or quit.

Think about it for yourself for just a minute. You

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

see/call 25 prospects a week. You close 1/5 that means you spent - whatever - amount of was

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

ted time on 20 poor prospects. I know, I know – how do you know if they are poor prospects

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

until you see or spend time with them? What if you took the time you spent with the 20 poor

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

Professional from academic institutions, pharmaceutical industries, health care indust

prospects and spent it with more good prospects – or even cultivating the five sales you ma

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

de for repeat/referral business. See where I am going with this? Maybe your closing ratio

.

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

could be 1/3 or even 1/2. Here is a real winner for success. Do both. See/call more prosp

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

Companies that provide selfless information through particip

ects and make sure they are qualified before you give them too much of your time and energy.

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 - Are You Selling By The Numbers Only?

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