Main Subject - Business

Achieving sales success is crucial to every business, after all sales is the only revenue generating function within a company, everything else costs

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

money. So what do we do to ensure that our key players in the sales arena are doing all they can to develop this most important of areas?

Much is sai

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

Examples of combination products may in

d about the process and techniques of sales and there are many books and courses written on the topic of sales strategy. However, I believe the key to

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

improving sales is not what we tell our sales people to do or even how they should do it (although I agree they cannot be overlooked). No, for me the

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

answer is not aligned to things you can teach or processes you can explain. I believe the answer is much simpler and at the same time much harder. Th

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

Combination pro

e simple fact is that most businesses do not achieve the sales they expect through their people because they never answer the why, or to put it in cle

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

ar terms ‘Why should I sell this product if I am not motivated to do so by my leaders?’

I have seen many a sales meeting where the sales manager care

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

fully explains what the product does and how it works without once explaining why it is important that the team sell the product at all. What’s in it

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

for them? What’s in it for the business? Why should I sell this product!?

We’ve all heard of features, advantages, benefits and you can be sure that

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

the customer is only interested in the benefit to them of buying a product, so why should this be any different for a salesperson selling a product? T

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

hey need to know the benefit to them of selling the product, otherwise why should they?

Now I know there are some cynics reading this who will answer

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

Following aspects would a

the question, ‘Why should I sell this product?’ with the much fancied response of ‘…because you are a salesperson and that’s your job.’ To that I say

dd to the challenges in developing combination products:

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

‘great’, if you are getting results in this way then carry on doing things just the way you are, but if you’re not getting results using this method

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

I have another response…

…If you always do what you always did, you’ll always get what you always got.

Now I mentioned earlier that what a product d

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

oes and how a product should be sold should not be overlooked and I think that is very true, but when you only focus on these you will be left scratch

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

ing your head as to why your sales team aren’t getting the results. So, a simple way to deal with the issue is to use the following formula…

What + H

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

Professional from academic institutions, pharmaceutical industries, health care indust

ow + Why = Sales

In this formula, ‘What’ is the clarity around the product or service, i.e. do they know the features and benefits of the product? ‘H

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

ow’ is the capability to sell the product, i.e. do they have the correct skills and techniques? ‘Why’ we can call motivation, i.e. do they understand

.

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

the benefits to them and the business of selling the product?

You may find that results still come in with one of these elements missing. However, wh

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

Companies that provide selfless information through particip

en you combine the elements you will be truly blown away by what you can achieve.

So next time you hold that sales meeting, remember the reasons why.

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

HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.mainsubjects.org.ua/article/38222/mainsubjects-Improving-Sales-Effectiveness--The-Question-is-Why.html">Improving Sales Effectiveness - The Question is Why?</a>

BB link (for phorums):
[url=http://www.mainsubjects.org.ua/article/38222/mainsubjects-Improving-Sales-Effectiveness--The-Question-is-Why.html]Improving Sales Effectiveness - The Question is Why?[/url]

Plastic fundraising cards are proving to be very effective with many different types of businesses and organizations. These wallet-sized wonders are being created as a tool to raise money for charitable organizations, in addition to the flexibility of producing cards for gift, loyalty and membership marketing purposes. Plastic fundraising cards usually include a variety of discounts that are accepted through the participation of local, regional and national merchants in your target marketing area.

Employers face a dilemma, each year, on which holidays to give off to their employees. Many employers do not give Martin Luther King Jr. birthday as a holiday. They do not want to be seen as racist or close minded, but employers are concerned about making enough revenue in order to pay for their overhead. However, employers have a lot of options in solving this dilemma without cutting into their revenue.

Seminar topics are difficult to think of, and as an IT related business you typically want to offer technology based seminar topics. Instead you have to ditch the technology related topics and concentrate on business related seminar topics.

Tags

Links

Main Subject - Improving Sales Effectiveness - The Question is Why?

Related Articles: