Useful Advices - Business

If your company's sales are lagging and you are looking fo

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

r a way to boost the results of your sales team, look into

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

Examples of combination products may in

creating a sales contest or sales incentive program to mot

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

vate your sales force.

Awards in sales contests can be an

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

thing from gift certificates to a shopping center to a Eur

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

Combination pro

pean trip, depending on your budget. Whatever the reward a

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

tually is does not matter much, as long as it's seen as a

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

worthwhile prize by the sales reps. It must be something

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

hat they will want to work for and actually want to win.

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

sales contest and incentive program can help boost the mo

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

ivation to sell more because it adds a little spice to the

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

Following aspects would a

daily routine of the salesperson. And, a motiveted sales f

dd to the challenges in developing combination products:

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

rce is a good sales force. Salespeople, by nature, are com

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

etitive and enjoy a good competition. Coming in first plac

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

e in a sales contest also gives the winner bragging rights

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

Sales contests could be monthly or quarterly. What many

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

Professional from academic institutions, pharmaceutical industries, health care indust

usinesses do is that they set up a series of small monthly

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

sales contests and then provide for bigger prizes either q

.

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

arterly, semi-annually, or annually.

You can’t go wrong w

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

Companies that provide selfless information through particip

th sales contests and your sales team will love you for it

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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Imprint your Brand Identity on the minds of your clients. Make your product known with the power of niche marketing. Brand your market identifies the product or service boldly!

Leading a change programme is a risky business, for the leader and the lead. The law of unintended consequences applies in full as change involves people. People see the the starting and finishing points and the intention of change from their point of view and act accordingly.

If you are in sales then who would you rather buy from? The amateur with a reputation for doing what he says he will do and integrity or the professional who dresses nice, is new to the scene and uses all the right phrases, psychological tactics and buzz words?

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Useful Advices - Sales Contests And Incentives Can Help Motivate Your Sales Team

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