Useful Advices - Business

In spite of the fact that sales can be a very lucrative profession, closing sales on a consistent basis isn’t easy. In fact when you review the steps involved, from prospecting to closing the s

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

ale, the process can sometimes be excruciating. But it doesn’t have to be that way. Understanding who your are and how to interact and interpret your prospects and clients are extremely import

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

Examples of combination products may in

ant factors that must be considered. The company buyer-user psyche is an interesting study.

If the decision-maker or major influencer in your sales cycle also happens to be the user (either p

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

ersonally or as a supervisor) you need to understand how your product or service will impact on his or her position within the company.

While it's true that a positive personal buyer-seller re

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

lationship is always an asset, it’s also true that you must understand the features and benefits of your products and/or services. Even more important is developing an understanding of your pro

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

Combination pro

spects’ needs and desires and being able to identify factors that will motivate the prospect to buy. However, we all know that these concepts have little value if your prospect perceives that w

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

hat you are selling will negatively impact on his or her position.

Selling is a process that involves more than just showing up, looking good and dumping information on your prospect. If that’

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

s all you do, don’t expect to walk out with a sale.

Achieving consistent sales requires a step-by-step plan. And one of those very critical steps is determining whether or not your product or

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

service is perceived as a stop sign or a green light in the buyer-user’s agenda.

Let’s take a brief look at a real situation that illustrates this point. Years ago I owned a company called For

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

Eyes Optical. Not only did we sell to the public, we also what would be today considered a self contained PPO. The sales team or I would present our concepts to corporate CEO's, H/R execs, hea

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

ds of unions and offer them special programs for their employees.

One sales experience turned out to be extremely instructive. We were meeting with a CEO and other key company people who all r

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

Following aspects would a

esponded enthusiastically to our proposal. The price was right, accessibility fantastic and a proven service program was already in place. We were sure this one was in the bag.

After all, we’d

dd to the challenges in developing combination products:

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

done our homework, or so we thought. I had followed the steps in my sales routine and everything seemed to be moving ahead quite smoothly. Except for one thing. I made an assumption (a very ba

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

d thing to do in sales). I assumed that because our program was good for the company it was therefore automatically good for the CEO as well. It proved to be incorrect.

There was one mitigatin

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

g factor that could have created a major political problem for the CEO. If he “bought into our program,” his position would be in jeopardy.

In spite of all the man-hours and money spent on try

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

ing to get the business, a valuable lesson was learned – above all, people buy, or in this case don’t buy, for reasons beyond the obvious.

That’s why it's smart to make a list of qualifying qu

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

Professional from academic institutions, pharmaceutical industries, health care indust

estions for your prospects or clients before you initially speak with them. When the opportunity to ask them presents itself, it’s best to ask them in an easy-going conversational manner.

Thos

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

e questions should lead to answers that paint a relatively clear picture of the situation. The answers should give you the knowledge needed to make the sale or decide not to waste time pursuing

.

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

it further.

And remember that if you don't find out how what you are selling impacts on the buyer’s position, you might as well go fishing without a rod, reel or net.

Finding out is easy if

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

Companies that provide selfless information through particip

you don’t forget to ask.

For more information on selling feel free to click on my website link in my bio below and sign-up for my free seven part e-course on sales, management, and leadership.

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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If you do, you probably need to do something positive about those important outside audiences of yours that most affect your operation.

When marketing to an audience of people who all hold the same interest in the product/service being offered, every single person in your audience is much more apt to respond to the marketing efforts.

Vacation incentives have matured since the day of hidden sales meetings. Your customer no longer is forced to attend timeshare meetings, ruin their vacation or pay hidden fees. They get free hotel plus $500 in savings with no gimmicks. The best part is the sales professional or business owner only pays as low as twenty cents per customized vacation certificate from SonicPoint.com.

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Useful Advices - If You're In Sales, Fully Understanding What The Buyer's Position Really Is Can Be Invaluable

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