Main Subject - Business

We Negotiate Every Day

Give and take techniques abound all around us. Thrift stores, movies, and mom give us several opportunities to see everyday negotiation action.

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

Wincing, Limited Authority, False Deadlines

Go to your local thrift store, flea market, or swap meet. Practice your negotiation techniques while buying a cheesy Haw

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

Examples of combination products may in

aiian shirt. Here's how it goes ...

Merchant: "May I help you sir or madam?"

You: "Why yes, how much is this cheesy

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

Hawaiian shirt?"

Merchant: "Ten dollars."

You: "Ten dollars!" (A wince, followed by silence)

Merc

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

hant: "How about eight dollars?"

You: "Eight dollars!" (Another wince) "My mom said I could only spend $5.00 on any

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

Combination pro

cheesy Hawaiian shirt I wanted." (Limited authority)

Merchant: "Five dollars!" (Another wince)

You: "Yes, and 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

e have to leave for home in five minutes." (False deadline)

Merchant: "Well, okay kid, I'll let you have it for five dollars."

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

g>You: "Ah, great", you say to yourself, "I really got him."

Merchant: (To himself) "That's the most I've gotten fo

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

r one of these dogs in months!"

Silence In The Movies Weekend at Bernie's is a great example of silence in negotiation. Although Bernie is dead,

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

nobody seems to notice. While propped up on a sofa at a party, dead Bernie receives an offer to buy his Porsche for $35,000. Bernie is silent. Minutes later he is off

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

red $40,000. Bernie still says nothing. Then he is offered $45,000. More silence. Even when the offer tops $55,000, Bernie still says nothing. If we acted more like Be

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

Following aspects would a

rnie, we'd put a lot more life in our negotiations.

In Glengarry Glen Ross, there is a scene where Al Pacino loses a sale because Kevin Spacey volunteers information

dd to the challenges in developing combination products:

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

in front of Pacino's client without knowing the details of the negotiations. Pacino later tells Spacey, "You never open your mouth until you know what the shot is

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

." Larry Winget, a Tulsa, Oklahoma based motivational speaker, says that you never volunteer unsolicited information because it's often used in objections later o

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

n.

Mom Knows Best (Pressure Technique)

Have you ever had a pushy person try to pressure you into a quick decision on an important matter? Yielding to this kind of pr

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

ssure (which is really just another false deadline) can be disastrous.

Our moms knew this when we were kids. Remember when we would relentlessly badger our moms for a

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

Professional from academic institutions, pharmaceutical industries, health care indust

quick answer to a seemingly monumental problem? Mom would say, "If I have to answer you now the answer has to be no. But, if you give me some time to think about

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

it, the answer might be yes."

Smart kids are usually willing to let up a little bit in return for the potential of a positive outcome.

This technique works gre

.

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

at with pushy adults ... bosses, employees, spouses, etc. Try it. Mom knows best.

Keep your eyes open ... every day we are exposed to and impacted by negotiation tech

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

Companies that provide selfless information through particip

niques all around us.

The wise negotiator is a keen observer and an aggressive adapter of effective techniques occurring in his or her presence.

Bio

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

Tags

Links

Main Subject - Thrift Stores, Movies & Mom

Related Articles: