Thesaurus - Business

You arrived on time and completed your calculations. You worked up a presentation of all the things you’re going to do and items included, going over each item carefully

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

. You’ve just given the customer the price. They look at each other. He says, “Okay. Thanks for the quote. Well get back to you. Of course, we need time to think about it

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

Examples of combination products may in

. It looks good. I’ve heard good things about you. So there’s no need to worry. We never make a decision without thinking it over first.”

You probably just lost the sa

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

e. Unless, of course, you se-verely underbid the job. Which all of your competitors will try to do, especially if your clients reveal your bid to them? Where did you go

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

wrong? What could you have done to have a better shot at getting the ink on the contract?

Let’s go back to Marketing 101: What makes you better than others in your busin

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

Combination pro

ess? If we made a survey of your past customers, what would they say about you? Your knowledge/skill level? Your Professionalism? Your quality of work? Your creativenes

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

? If you don’t know the answers to these questions, you’re losing business and money (by not generating more profit per sale). By taking the time to answer these and ot

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

her similar questions, you can start improving your presentations, more sales and a better bottom line.

Put it another way: People have no way of knowing how good you

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

are without your telling them. They’re afraid to make a wrong decision. They have made bad decisions. Their friends and relatives and coworkers have made bad decisions an

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

, miracu-lously, they become “experts”. They’ll tell your clients why doing business with you (or any tradesman they select) are just no good because they know better. Th

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

e world is full of nay-sayers. Your presentation will over-come those objections—if it is well thought out.

So what can you do? As we mentioned above, you need to answer

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

Following aspects would a

certain questions. Having answered them, you can put that knowledge to work right from the get go. Your are now ready to create your own personal ‘VALUE STORY”. The more

dd to the challenges in developing combination products:

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

valuable you seem, the more people will trust you to do work for them and the more they will pay. It’s just that simple.

In the beginning of your first contact you shoul

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

d be mentioning something about your professionalism. When you first arrive, dressed appropriately and with a cordial greeting, you outline what it is that you are going

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

to do on this visit. (A one-call visit is the same as a 2 or3 call process, just abbreviated.) You begin with asking questions. These questions help you demonstrate mast

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

ry as well as qualify and determine client needs and desires, which you will use later in the presentation stage. After completion of your quoting process, you arrive at

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

Professional from academic institutions, pharmaceutical industries, health care indust

the presentation stage. You start by demonstrating your recommendations, showing how your product or service is different or superior and, most importantly, how that bene

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

fits your client. It might go something like this:

“You asked for my quote for a good quality (whatever). In my experience, there are good and poor choices. While this

.

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

s cheaper, this one will last twice as long but at only a little higher price.” Or “Let me ask you Mrs. Client, which is more important: A job well done at a slightly hig

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

Companies that provide selfless information through particip

her cost or a cheaper job that you’ll regret later? Let me show you why the product /service I’m recommending will be worth the extra cost.” Stay Tuned: more next month

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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Although the Six Sigma methodology originally started out as a way to improve processes and products in a manufacturing environment, today it has grown to encompass a broad range of industries. As companies begin to realize the benefits a total quality improvement cycle can have upon the organization they are adopting Six Sigma and its practices into their own fold.

If you think you have what it takes to become a support tech you may want to read what follows just so you have an idea of what you're in for, both from a technical standpoint and dealing with screaming customers.

Which would you choose, the guy with the good degree or the one who is a proven salesman? Get it wrong and you have made a frustrating and very expensive mistake.

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