Main Subject - Business

If after resolving all objections and closing you are still getting the NO, then perhaps you have committed one of these common sales sins. Selling begins the second you answer the phone or enter

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

the appointment. Make sure you avoid these from the start.

1.Telling not selling

Many professionals are eager to show how much they know. A customer asks a question and it’s

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

Examples of combination products may in

off to the races. The salesperson rambles on addressing every last detail and then wonders why the borrower is indifferent and disinterested. You either bored them to death or confused them. Reme

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

ber, it took you a long time to learn everything you know about your business so don’t try to squeeze it all into a 15 minute phone call. At least 60% of your conversation should be the cu

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

stomer telling you what they want. Ask questions and LISTEN!

2. Bulldozing

The hard sell is out. You know why? Because it rarely works. In our age of the Internet and media yo

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

Combination pro

are dealing with more educated and market savvy consumers. Many times the customer simply needs some time to absorb everything. Stay away from the idea that more is better. You can lock shaky 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

als all day and most of the time they will create more headaches and steal more of your time than they are worth. If you locked solid deals yesterday then you will have more time to lock new deal

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

s today.

3. Um, err, uh…

These bad habits are surefire ways to lose a deal. They scream, “I don’t know what I’m doing and I’m nervous to ask for your busines

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

!” Listen to your calls and count how many times you say these “filler words”. You may have even developed your own like "okay" or "ummm". Think about the words you are using to sell. Don’t waste

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

your momentum on one of these closing killers.

4. Circling the close

You have just said something that the customer loves. You have hit their hot button and

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

it’s time to close. You can hear it in their voice but you keep rambling on about the rest of your features. You don’t have to keep selling them, they are ready. The object of the game is to clos

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

Following aspects would a

e the deal so take the opportunity when it presents itself - SHUT UP AND CLOSE!

5. Silent but deadly

Pauses and dead air in a conversation will generate a ve

dd to the challenges in developing combination products:

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

ry loud “NO.” Although it may only be a few seconds it can feel like an eternity - especially on the phone. Don’t rush the call, but make sure the conversation is moving at a comfortable pace for

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

both you and the customer. Silence implies that you have no direction for the call and that you are waiting for the borrower to pick the next course of action. Control the call with good question

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

s and keep things moving in the direction of a close.

6. Negativity

Nobody likes a negative person, even if that person is offering a better deal. Know your

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

ompetition but never bash them. This hurts you more than it hurts them. Focus on your strengths and if necessary use narrow questions to allow the borrower to make their

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

Professional from academic institutions, pharmaceutical industries, health care indust

own conclusions about the guy down the street. Don’t use phrases like “I don’t know” and “we can’t do that”. These are statements that invite your prospect to go somewhere else. Instead try some

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

thing like, “That’s a great question, let me find out for you” and “that may be difficult, but let me see what I can do.” Always show the customer that you have the power to act on their

.

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

behalf.

7. Arguing

Never, ever argue with a customer. This will never win a sale for you. Nobody likes to admit when they are wrong so even if you can demonstrate that you are

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

Companies that provide selfless information through particip

right; you will still lose the deal by arguing. If you must clarify an issue do it tactfully and remember what personality type you are dealing with. A compliment or confirmation may be in order

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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It is often tempting to jump into the first opportunity for a commercial loan that you may come across. While your tendency may be to focus on how additional funds may support or expand your business or commercial real estate portfolio,

According to the Oxford Dictionary the origin of franchises, with respect to the etymology of the word, lies in the French 'franche' meaning free. However, the original use of the word in the English language referred to the granting to citizens a right to vote. It then became used in the sense of a company granting another the right to sell its products or services.

Pricing of any product or service can be related directly to the company's cost structure found in financial statements. Four components make up a price: Variable Costs, Fixed Costs, allowance for Overhead and Profit. All four components must be taken into account when pricing.

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