Useful Advices - Business

You can be a master in producing world-class products and may be among the best in the business, but that is not enough. You have to sell the product and anytime and anywhere in the world convinci

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

ng a consumer is not an easy task. It is a well-accepted perception that to sell a product in numbers, product quality is not always the top priority. It has been observed that a reasonable produ

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

Examples of combination products may in

t can outnumber a superior product by selling more units. It may sound harsh but it is a fact and the corporate world agrees with it. So we can conclude that selling a product is a craft and sale

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

pundits nurture that and try to refine it everyday. To attain this craft we have to get sales training under the supervision of these pundits and professionals.

In sales training a set of steps a

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

e taught that need to be adhered to sell products. These are:

1. Planning and/or preparation
2. Introduction or opening
3. Questioning
4. Presentation
5. Overcoming objectio

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

Combination pro

s/negotiating
6. Close or closing
7. After-sales follow-up

These are the golden rules of sales and followed by all sales training programs everywhere in the world. After completing sa

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 training a person can apply these set of rules in his/her own way. Sales training teaches these rules but how you implement this rule is up to you.

What else is included in this type of traini

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

ng? In short, the course should be designed in such a way that any one from any background can understand and learn the subject. You are taught the basics of demonstrating a product. The course

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

puts stress on the psychological aspects too. You may be giving your full when selling a product but that is not enough. It has to be on the buyer’s mind. The buyer decides to purchase the produ

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

t, not you. Thus in the course you learn how to influence your buyer. If you can do this, then the rest of the transaction is just a formality.

Salesmen in the entire world more or less follow a

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

imilar set of rules. The idea is learn the rules, then closely follow the rules and then work on your plan. This is the safest way to sell your product.

‘Sales’ is the buzzword in any business.

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

Following aspects would a

Any businessman in the world is always fascinated about the sales of his products. If you are a businessman, then you must be dreaming of increasing the sales of your product.

As a businessperson,

dd to the challenges in developing combination products:

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

either you are a producer and selling your products through dealers or simply a seller of the various products. In any case you are selling products. So we can conclude that, a sale is an insepar

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

ble activity of business.

In the world everything follows a cycle. The cycle is a series of events linked together in a systematic manner. In business a cycle also exists. In the business cycle

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

there are different stages and in a stage there are certain activities. In any business cycle multiple types of sales happen.

Demand for a product is the first stage of a business cycle. Demand

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

creates the need for production. The product is produced and then it goes to market for sale.

A product can be sold in three ways.

1. Sales through various outlets to the consumer directly.

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

Professional from academic institutions, pharmaceutical industries, health care indust

2. Sales through dealers, retailers and then a secondary sales to consumer
3. Producer sells the product in the wholesale market. Many wholesalers purchase the product. A wholesaler sells the

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

product to a retailer and then the retailer sells the product to a consumer.

The bottom line is every industry in the world to survive requires sales. You survey the market; find a product to pro

.

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

uce or sell. You may be a marketing person or from a production house, in any case the basic criteria for selecting a product are the selling probability of the product. To sell a product you have

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

Companies that provide selfless information through particip

to be a good salesman. Otherwise despite the good quality of the product you can fall short of the target sales. Another reason, a sales training course is essential.

Copyright 2006 Sherry Harri

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 Sales Professionals, it is our responsibility to manage our Customers expectations. This is really the foundation of all sales success. Do you sell your product/service, or do you oversell your product/service? The image our clients have of our product/service is largely determined by the picture we paint. That image can be derived from collateral, your web presence and the information/expectation you have set with your client through your sales conversations.

IT Sales requires to prepare before the initial sales call. Know as much as you can about your prospect and make sure they know service is your main offering before IT sales.

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