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Main Subject - 5 Words That Sell
1. You – customers want to know you’re talking to them. Ins
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
tead of saying, “Customers who bought this cordless drill saved money in lab
; 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
r,” say, “You’ll cut down on labor costs when you
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
trong> own this drill.
2. Money – Everyone likes to know t
2. Money – Everyone likes to know t
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
at they are getting good value and yet many sales people avoid talking about
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
money. “You’ll save money on labor costs when you own this
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
drill.” Address the money issue early in the sale and it won’t be a deal-bre
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
ker later.
3. Guarantee – Many of the pro
3. Guarantee – Many of the pro
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
ucts you represent have guarantees backed up by the manufacturers. Though, o
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
ten neglected as a sales tool, it rates high as a deciding factor for custom
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
rs. By offering a guarantee, it takes the pressure off the buyer who fears m
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
aking a wrong choice. “This drill carries a money-back guarantee
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
ong>.”
4. Benefit – Sure, everyone knows “sell benefits, n
4. Benefit – Sure, everyone knows “sell benefits, n
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
t features,” but often the customer is unaware of the benefit unless you poi
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
t it out. “When you own this cordless drill, an added benefit
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
> is the money you’ll save on extension cords.”
5. Customer’s Name<
5. Customer’s Name<
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
/strong> – Dale Carnegie told us years ago that people love to hear the soun
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
of their own name. Using a customer’s name personalizes the sales process a
.
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
d keeps your presentation from sounding “canned.” Avoid overusing the name.
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
t sounds insincere. “This drill has your name on it, Steve.
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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