Main Subject - Business

One of the critical factors in a successful sales outcome is the sense of urgency a prospect brings to the sales process.

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

A question I have been asked many times in my sales seminars is: can you create a sense of urgency? Yes, but it takes

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

Examples of combination products may in

skill, and effective communication ability, right attitudes, product knowledge and confidence.

What is a sense of urgenc

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

y? Let me give you a few quick examples.

- You discover that your prospect’s primary supplier is back-ordered and they

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

eed the supplies yesterday.

- Your prospect has just sold his home and has to be out in 15 days – and, you guessed it, h

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

Combination pro

e needs a new home yesterday.

- Here’s one from my personal experience. The prospect calls and has a meeting in two week

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

s for 500 people and their speaker cancelled.

Urgency means the prospect needs a solution, answer, product, service NOW.

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

Price is not the issue, terms are not the issue. Your ability to deliver according to their needs or expectations is the

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

ONLY issue.

Why do many salespeople spend literally hours every week in front of prospects that have no sense of urgenc

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

y? Yes, you have to spend some time with them to determine if there is a sense of urgency, but once you discover there i

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

n’t, or you can’t create it – NEXT. (That’s move on to the next prospect.)

Trust me - you will waste a great deal of tim

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

Following aspects would a

e, corporate resources and energy chasing prospects without this sense of urgency. I can hear many of you now: but I have

dd to the challenges in developing combination products:

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

to see 5 prospects a day, or – my management requires that I see each prospect through to the end.

How can you create a

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

sense of urgency? By focusing on the critical business factors, weaknesses, problems, and needs and showing the prospect

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

how waiting will cost them more than they are going to want to pay if they wait.

Let’s look back at one of the above exa

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

mples. Let’s assume that the current supplier is not back-ordered with the products your prospect needs. Here are a few q

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

Professional from academic institutions, pharmaceutical industries, health care indust

uestions to ask your prospect:

1. What would happen if your current supplier couldn’t deliver?

2. Are you prepared with

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

adequate inventory if your current supplier can’t deliver?

3. Do you have a secondary source of supply should your curre

.

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

nt supplier let you down?

Get the picture? You keep asking questions that focus on the problem (what if_ _ _ and could

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

Companies that provide selfless information through particip

you). Now it’s your turn. Come up with some questions on your own that create a sense of urgency for your product/service

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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Snuggle up in a comfortable spot and just share your dreams and visions with God. Tell Him what you would do, where you would do it. who you would do it with. Just poor it all out and then take time to listen. He will give you feedback!

One of the best items that you can give away during a trade show is a promotional pen. They are very popular at trade shows for a good reason - when people go to trade shows, they are inundated with papers, pamphlets and flyers, most of which get tossed into a pile back at the office, never to be looked at again. However, if you had out a promotional pen with your papers or pamphlets, your pen will likely be looked at again, and again by potential clients at the trade show, even when they are back in the office.

Five times more effective than cold calling--that's the value of networking! When business development is critical--and when isn't it?--those who cringe at the prospect of mixing and mingling at business networking events will get help with these three clear-cut steps to comfortable and successful networking.

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