Cases - Business

In the marketplace, value is built, profit is protected and sales are closed by salespeople who p

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

ossess superior presentation skills. There are tools that can separate you from the crowd if you

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

Examples of combination products may in

ake the time to master them. If you don't, you will find yourself leaving prospects under served

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

nd sales opportunities lost. Here is one of those tools.

Superior product knowledge
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
ng> is at the heart of any professional sales presentation. I'm constantly amazed that salespeopl
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro
would attempt to service a prospect without knowing the basic facts about their product, let alo
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
e the finer details. Customers need salespeople to be an accurate source of information so that t
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
ey can make a well informed and positive buying decision. A salesperson who is inept at providing
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
that supportive product information is inviting the prospect to shop and, more importantly, to bu
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
elsewhere.

It's not simply good enough to have stats about your product since most customers ca
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
e little about them. However, it is most critical to have significant information as to how the p
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a
oduct will perform when used by the prospect. After all, your customer will be far more intereste
dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod
in what the product will be able to deliver in the way of personal benefits.

Now, while most sa
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
espeople are well trained on their own product line up, usually by their managers or their suppli
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
rs, many fall far short in knowledge about their competitor's offerings. This knowledge is often
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
s important to a master salesperson as is total understanding of their own products. Why?

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

Professional from academic institutions, pharmaceutical industries, health care indust
prospect is considering another brand or model from your competitor, you can often eliminate the
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
need to shop around if you can show significant advantages that your product has over the competi
.

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
or's by way of comparison.

This is one in a series of three articles on presentation tools, plea
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip
e check out the other two and then visit us to discover how to add to your selling skills toolbox

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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Cases - Powerful Product Presentations, Your Most Potent Tools, Part 1 of 3

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