Useful Advices - Business

Everyday in addition to the basic spam of email, friends send me jokes. Some are funny, some are not. Those that are truly funny have a nugget of wisdom or enlighte

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

nment within. Here's a story that I like and it not only makes sense, but delivers a common sense sales message that we can all learn from. And, that's no laughing

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

Examples of combination products may in

atter.

A young guy from South Dakota moves to Florida and goes to a big "everything under one roof" department store looking for a job. The Manager says, "Do you

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

have any sales experience?" The kid says, "Yea, I was a salesman back in South Dakota."

Well, the boss liked the kid and gave him the job. "You start tomorrow. I'

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 come down after we close and see how you did."

His first day on the job was rough but he got through it. After the store was locked up the boss came down.

"How

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

Combination pro

many customers bought something from you today?

The kid says, "One".

The boss says, "Just one? Our sales people average 20 to 30 customers a day. How much was t

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

e sale for?"

The kid says, "$101,237.65".

The boss says, "$101,237.65!!" What the heck did you sell?"

The kid says, "First I sold him a small fishhook. Then I so

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

ld him a medium fishhook. Then I sold him a larger fishhook. Then I sold him a new fishing rod. Then I asked him where he was going fishing and he said down the coa

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

t, so I told him he was going to need a boat, so we went down to the boat department and I sold him a twin engine cabin cruiser. Then he said he didn't think his Ho

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

nda Civic would pull it, so I took him down to the automotive department and sold him that 4x4 Expedition. Ah, that was all."

The boss said, "A guy came in here to

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

buy a fishhook and you sold him a BOAT and a TRUCK?"

The kid said, "No the guy came in here to buy Tampons for his wife and I said, "Dude, your weekend's shot - yo

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

Following aspects would a

u should go fishing."

In sales, like in life one thing leads to another. It's simple. If we know our customers, we can help them. There's an educational video ser

dd to the challenges in developing combination products:

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

es on sales called The Principles of Sales and Marketing: The Power of Ethical Selling. The series outlines the principles that should underlie all sales and

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

marketing transactions. Each program contains solid advice and concrete lessons that teach effective skills. My favorite is called Keep It Simple, which is

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

eally the essence of sales and up-selling.

"Customers are constantly bombarded with all kinds of information, misinformation, or jargon, which is used to cover for

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

the absence of information. The successful salesperson is the one who can communicate most directly and simply the benefits to the customer of the product or servi

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

Professional from academic institutions, pharmaceutical industries, health care indust

e being offered. This program explains the advantages of keeping things simple, how to find an information level at which to work with customers, how salespeople ca

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

n develop a better understanding of their own product, and how they can communicate their own knowledge effectively to their customers."
-- Informational copy

.

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

from Keep It Simple

The more we talk to our clients and interact, the better we can serve them. And the better we can serve them, the more chance we have of

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

Companies that provide selfless information through particip

seeing customer satisfaction. Happy customers mean we are successful and will be rewarded.

When the punch line is the bottom line, sales and up-selling is no joke

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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As a small business marketer you need emotional ore--raw material from your customers that you can try and build on to create a stronger bond with them. You are trying to create a sticky position in their minds. The master jeweler needs the stones and the gold before he crafts that dazzling wedding ring. The same is true for the master marketer; you need to gain at least some hint of how your customers feel about your small business. And the best way to extract that info is to ask them.

If you are an Employer looking for permanent staff, using agencies can be an efficient and cost effective method of recruitment. Do your homework carefully and you can concentrate on what you do best, running your business.

Just as a coach can’t swing the bat for the player at the plate, we can’t be with our teams every play of the game. We must share our best techniques for sales success, so that when split-second adjustments need to be made, they have the skills to make the right ones.

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Useful Advices - Sales and Up-Selling is No Joke

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