Main Subject - Business

In a time when more and more people are seeking instant gratification and seem to have less and less time and patie

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

nce, many salespeople are trying to rush their sale cycle. In my experience and opinion, they do so at their own pe

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

Examples of combination products may in

ril. Speed, the attempt to rush the process, can significantly reduce the amount of referral business you can expec

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

to generate from a completed sale. This is why.

Master salespeople who perform their services at the highest leve

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

ls understand that a carefully crafted sale resulting in a fully satisfied customer has the realistic potential to

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

Combination pro

ultiply the sales success many times over through ongoing referral business from that satisfied customer. In a high

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

ly competitive marketplace, salespeople must be aware of this fact.

Speed selling rarely, if ever, creates a fully

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

satisfied, longterm referral generating client. Not enough time is spent establishing rapport and developing valuab

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

le trust. The qualification process is usually rushed significantly. Salespeople generally push their own agenda ra

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

her than responding to the customer's need or problem.

The prospect often gets a feeling that he or she is being p

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

ressured which diminishes or even destroys the sense of a pleasurable buying experience. In addition, quick sales,

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

Following aspects would a

are much more likely to result in a higher incidence of 'buyer's remorse' and lead to many more customer complaints

dd to the challenges in developing combination products:

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

I have rarely seen the typical 'speed selling' salesperson even take the time to ask the customer for referrals.

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

Granted, there are times when speed selling might be appropriate. Times like huge event sales, where customers out

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

number salespeople all day long, or perhaps in high volume retail outlets with a transient customer base. However,

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

if you are a salesperson, selling on commission who would benefit from referral and repeat business you

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

Professional from academic institutions, pharmaceutical industries, health care indust

/strong> can't afford to 'speed sell'. Clients have repeatedly indicated that they w

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

ill not send family, friends or associates to a salesperson who has pressured them or who did not create a positive

.

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

and enjoyable buying experience.

As is true on the highway, speeding will cost you a lot of money in fines or perh

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

Companies that provide selfless information through particip

aps get you killed. In a selling situation, speeding will cost you piles of money by killing your referral business

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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Main Subject - Selling Too Quickly Can Cost Referral Business - Speed Kills

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