Main Subject - Business

The other day I received a call from a telemarketer selling a website "starter kit" for small businesses. If you are reading this right now, then you undoubtedly know that I have a web

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

site. Normally, I would quickly get the telemarketer off the line so I could get back to showing people how to make more money. But this call got my attention because I thought that th

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

Examples of combination products may in

is might be a potential service that I could recommend to my clients. So I decided to listen to this sales pitch to evaluate the offering and the approach that the telemarketer used.

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

Well the rep started by going straight into a sales pitch. She was using the age-old technique of trying to complete her benefits-loaded-sales-pitch before I knew what hit me. This te

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

chnique is very similar to television, radio, or print advertising where if you show your ad to enough people with a pulse, then you will eventually find a few people who actually need

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

Combination pro

the service.

Instead of getting annoyed with the sales rep, I decided to have fun with the call. Once she was done with her somewhat lengthy pitch, I asked her "Do you have any ide

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

a what I even want?" Well of course, she did not because she had not asked me a single question. I could tell during her pitch that she was tense by the sound of her voice. So I starte

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

to ask her questions about the service. She answered my questions very well. I noticed by her voice that she was getting more relaxed and comfortable by my asking questions of her. I

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

guessed that she likely was thinking that she had a buyer or a hot-prospect on the line.

Once I had asked enough questions, I told the rep that this service was not for me as I alre

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

dy have my own website (through the conversation, she never asked this critical, obvious question). I told her that I would keep her service in mind for clients that might need a websi

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

te starter kit. I could tell that she was distressed. She tried a final closing attempt on me by pleading "Well, don't you want to at least try it out?" I said "No way - do you have an

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

Following aspects would a

y idea what a pain the a%$ changing web hosting services is?"

Lest you think of me as cruel for wasting this poor sales rep's time, I remind you that as buyers we do this to salespe

dd to the challenges in developing combination products:

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

ple everyday when we consider making a purchase. Have you ever asked many questions of a salesperson only to go home, think over the decision, and then never buy the product? Many sale

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

speople and entrepreneurs put up with this behavior from prospects because they exhibit this behavior themselves when making purchases.

QUESTION: Who was in control of the

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

ales call?

ANSWER: The prospect (me).

QUESTION: Why didn't I buy?
ANSWER: Because I had no pain that the service could fulfill.

If the se

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

ller had followed these 3 simple rules, she could have been on to the next suspect on her list, instead of wasting 20 minutes on a no-sale conversation:

Ask quest

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

Professional from academic institutions, pharmaceutical industries, health care indust

ons first to find a pain to solve. If no pain, then move one to the next suspect!

Don't give away free consulting. Keep your leverage until you know that the prospect is likely t

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

o buy your product or service.

When you find pain, leverage this to make the sale. People will pay a lot of money for the things that they really want.

Too many comp

.

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

nies don't invest in the best for their sales-people. They expect you to be already trained in sales or a "natural". Well naturals aren't born, they are made. If your company isn't inv

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

Companies that provide selfless information through particip

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 essential to create a mental picture that unites image and character in an accurate and easily understood representation of the business.

You know it seems to me having done much business with Arab Gentlemen that if you do not BS a little they really do not respect you much, and the problem is that under US law you have to be truthful. They like to catch you in a tall tale...

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