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Main Subject - Internet Presence and Professional Networking and Their Relationship to the Complex Sales Process
Possessing a visible Internet presence and professional networking skills can be a big help in executing a complex sales process.
Everything that is sold has a greater or lesser impact on a clie
Everything that is sold has a greater or lesser impact on a clie
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
nt's business. A client might need paperclips, but they aren't going out of business if they make the wrong decision in buying a couple of hundred cases. The same amount of money spent on a unifi
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
ed messaging system, or a web server, could potentially be devastating if the wrong buying decision is made. Obviously there are huge implications if a company makes the wrong decision associated
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
with a $10 million dollar ERP system, or a mission critical piece of manufacturing capital equipment. This concept has basically been implicitly communicated over the years in the phrase "Nobody
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
ever got fired for buying IBM."
Typically, the more impact your offering potentially has on a client's business - good or bad, the more complex the sales process is going to be. Why? The more p
Typically, the more impact your offering potentially has on a client's business - good or bad, the more complex the sales process is going to be. Why? The more p
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
tential for impact a purchasing decision has on the client, the more people get involved in the decision process. More people involved in the decision means it takes longer for everyone in the de
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
cision process to evaluate the options and reach a decision consensus.
At large (and even in small) companies, the decision process can become quite political during a complex sales process. Tho
At large (and even in small) companies, the decision process can become quite political during a complex sales process. Tho
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
ugh there may even be a "formal" decision process (or procurement process) that needs to be followed, there is -always- an "informal" decision process ultimately driving the outcome. This is wher
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
e it becomes critical to know "who's who in the zoo." Who are all of the decision makers? Who are the people that have influence over the decision makers? This all becomes a critical picture to m
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
ap out as you attempt to navigate a complex sales process within your client's organization.
This is where your visible Internet presence and professional networking skills are critical leverage
This is where your visible Internet presence and professional networking skills are critical leverage
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
when navigating a complex sales process.
Most people only think about their professional networking skills. This is a mistake. Why? Because an increasing number of executives Google someone p
Most people only think about their professional networking skills. This is a mistake. Why? Because an increasing number of executives Google someone p
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
rior to consenting to meeting with them. If you can't be found on Google, then this isn't going to help your professionl networking efforts. A strong visible Internet presence can only help you
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
r professional networking efforts.
Keep in mind that when I speak about proffessional networking, I'm not just simply talking about networking to build relationships with people that can introdu
Keep in mind that when I speak about proffessional networking, I'm not just simply talking about networking to build relationships with people that can introdu
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
ce you to key decision makers and influencers, but networking to also identify who these people are and asses their competitive disposition prior to even attempting contact with them. For example
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
: "Nobody buys anything like that around here without Dave blessing it, the CEO and Dave go all the way back to being schoolmates, and the CEO trusts Dave implicitly."
Through networking you mig
Through networking you mig
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
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
t be able to learn that the key decision influencer is simply trying to learn enough about what you are selling to nuke your attempt at doing so. The ugly truth you might learn through networking
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
is that "Dave" was torched by your company two years ago over a service problem and has sworn to never buy from your company again, or Dave's wife works for the competitor's company, or Dave won
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
't get to build the new building he needs if funds are diverted to invest in your offering, etc. What you learn through your networking efforts might change your mind about how much of your compa
.
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
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
ny's resources you want to waste pursuing a deal you just learned you potentially don't have a snowball's chance in hell of winning.
Networking is critical in any complex sales process. The bett
Networking is critical in any complex sales process. The bett
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
er you are at it, the better you'll be at closing more complex sales. Possessing a visible Internet presence will help others understand who it is that is attempting to network or meet with them
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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