Useful Advices - Business

Business people do not buy for many reasons. Usually the resistance also called stalls and objections to buying

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

something begins with the simple word of No. However, behind this no are numerous reasons. These No’s are not in

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

Examples of combination products may in

a ranking order as individuals are unique as our their reasons for not buying.

No Time

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

precious commodity. Many people simply lack the time to go out and make good buying decisions. Just think how m

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

any times you had to call your prospect before you even schedule your first meeting?

No Relationship

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

Combination pro

eople buy from people they know. If the relationship has not been established, then the hope for a sales strateg

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

takes over. And we all now that hope is not the best sales strategy.

No Budget

- People in business j

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

ust as in their own personal lives want a lot of stuff from products to services. However a business runs on a b

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

dget and sometimes the dollars are not available at that moment in time.

No Desire

- The old age goes N

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

one wants to be sold, but everyone loves to buy. If there is no desire, then why would I want to buy anything?

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

No reason

- People buy for a reason or a need. If there is no reason to buy services, there is potentia

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

Following aspects would a

lly no sale unless the salesperson can find a reason.

No Faith

- Even with an established relationship,

dd to the challenges in developing combination products:

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

faith must be present within that relationship. We know many people and like the, but would we do business with

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

ll of them? I think not.

No Knowledge

- Knowledge is critical to understanding the value of the produc

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

t or service specific to the buyer. Also, the seller’s knowledge must be credible to ensure his or her expertise

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

o the buyer.

There are probably several more No’s that could be added to this list. However from my exper

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

Professional from academic institutions, pharmaceutical industries, health care indust

ence as a business coach helping struggling businesses to increase sales, these are the main ones that I have hea

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

rd.

If you wish to increase sales, then make sur

.

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

you can overcome most of these No’s if not all of them. Even if there is no budget, are you sure? If so, if the

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

Companies that provide selfless information through particip

lient has enough value, then stay in contact with him or her. Do not let the No’s keep you from business success

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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Most of the eye contact research being done recently is around people telling the truth. And there is substantial research that eye contact communicates caring and interest. For introverts in one to one communications this is a naturally strong asset.

Flying on a private jet has its advantages, despite costs that are higher than the airlines. Since time is money, see why chartering your next flight makes good business sense.

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