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Cases - What Is Selling, Exactly?
Dear Bill:
A couple of years ago, I heard you speak at a Western Building Material Association meeting in Washington State. In that program you made the statement that most salespeople in our industry spend too much time
A couple of years ago, I heard you speak at a Western Building Material Association meeting in Washington State. In that program you made the statement that most salespeople in our industry spend too much time
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
performing tasks and too little time engaged in the act of selling.
This statement confuses me. My manager‘s idea of selling and yours are miles apart. He has instructed us to make at least one prospect call each day a
This statement confuses me. My manager‘s idea of selling and yours are miles apart. He has instructed us to make at least one prospect call each day a
; 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
d do our best to get the prospect to allow us to quote on an upcoming job. Of course, nine times out of ten, quoting an upcoming job includes having to do a take-off. And performing both of these “tasks” quoting
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
and doing takeoffs don’t qualify as “selling” if I understood you correctly.
My manager’s theory is that the fastest way to get prospects’ attention is to quote them some pretty hot numbers. While we don’t alwa
My manager’s theory is that the fastest way to get prospects’ attention is to quote them some pretty hot numbers. While we don’t alwa
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
s get an order as a result, if our prospects see our quotes consistently coming in under the market, they will pretty soon be motivated to give us a fair shot at their business.
What’s wrong with this theory?
A strugglin
What’s wrong with this theory?
A strugglin
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
g salesperson from the Great Northwest
Dear Struggling Salesperson,
The last thing I want to do is get you in trouble with your manager. However, except under extenuating circumstances, I do disagree with the approach h
Dear Struggling Salesperson,
The last thing I want to do is get you in trouble with your manager. However, except under extenuating circumstances, I do disagree with the approach h
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
is advocating. And here’s why:
The odds of salespeople -- no matter how good they are -- getting an order from a prospect on the first call are not good. My argument is that few builders are going to give salespeople a
The odds of salespeople -- no matter how good they are -- getting an order from a prospect on the first call are not good. My argument is that few builders are going to give salespeople a
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
n order on their first sales call even if they do a terrific takeoff and come in with a lower price than their current supplier has been quoting. Instead, most builders will first give their current supplier an opportunit
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
to meet the price. In fact, I’ll bet you that most your own loyal customers give you “last look” when one of your competitors fires a low-ball price at them in an attempt to take business away from you.
Pricing is like
Pricing is like
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
water, it seeks its own level. You fire low-ball prices at my customers and in retaliation I fire them back at your customers. This is a lose/lose scenario if I ever saw one. I personally believe that one of the reasons
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
that our industry’s gross margins are under so much pressure is because of prospecting tactics like the ones your manager advocates.
As the old saying goes, a well-groomed gorilla could quote low-ball prices. Quoting inv
As the old saying goes, a well-groomed gorilla could quote low-ball prices. Quoting inv
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
olves little if any “selling.”
While doing takeoffs is a task that does require technical expertise, doing takeoffs is extremely time consuming and is no closer to selling than quoting. Just about any salesperson working
While doing takeoffs is a task that does require technical expertise, doing takeoffs is extremely time consuming and is no closer to selling than quoting. Just about any salesperson working
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
for any of your competitors can do both, so neither task represents a great deal of added value. You must be spending anywhere from three to four hours a day just doing takeoffs for your prospects, not counting for your r
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
egular customers.
One of greatest truths in the selling profession is this, “All things being equal, builders prefer to buy from salespeople they know, like and respect.” And here is another great truth about selling: “A
One of greatest truths in the selling profession is this, “All things being equal, builders prefer to buy from salespeople they know, like and respect.” And here is another great truth about selling: “A
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
l things not being equal, builders still prefer to buy from salespeople whom they know, like and respect.”
So your job as a salesperson is to build relationships with your prospects that are better and more valued than th
So your job as a salesperson is to build relationships with your prospects that are better and more valued than th
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
e relationships your competitors have previously built. Building relationships takes time. You don’t build relationships over night. You don’t “buy” relationships with low-ball prices. About the best a low-ball price w
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
ll buy you is an order; it will rarely buy you a customer.
Selling is a profession. Salespeople who have learned how to build relationships and gain the trust and confidence of their customers and prospects will always b
Selling is a profession. Salespeople who have learned how to build relationships and gain the trust and confidence of their customers and prospects will always b
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
e successful and are highly sought after. They also earn incomes that rank at the top of the industry.
My guess is that your manager learned the tactics he is teaching you from someone he worked for in the past and has p
My guess is that your manager learned the tactics he is teaching you from someone he worked for in the past and has p
.
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
rhaps not been exposed to a lot of professional sales training. After all, it is possible for a salesperson or sales manager to be successful strictly because they possess a high degree of technical expertise. But when y
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
ou combine technical expertise and professional selling skills, you have an almost unbeatable combination.
If your manager would like to discuss this issue, please invite him to give me a call or send me an e-mail message
If your manager would like to discuss this issue, please invite him to give me a call or send me an e-mail message
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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