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You have now prospect's attention. Now what? Before you can share your products or service, you need to build a re

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

lationship with your prospect. Transactional selling is a thing of the past. Today's market place is all about sel

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

Examples of combination products may in

ling value through relationship building or what is called relationship selling. Use these 7 tips to help you exper

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

ience an increase in sales.

Keep the focus on them not on you

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

le thing. In relationship selling, you must release your ego and put the focus on your prospect if you want to see

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

Combination pro

an increase in sales.

Do you homework

You have the attention of your prospect and are meeting a second

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

time as you build the relationship. Before the meeting do your homework about the prospect, the company, the produ

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

ts or services being sold, the industry, etc.

Be prepared

Preparation extends beyond homework, but trans

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

cends into the actual meeting. If this is a critical second meeting, you may wish to role-play with someone else.

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

Ask open-ended questions

The ability to discover the real pain your prospect is critical to showing the v

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

alue that your products or services bring to the table. Open-ended questions are necessary within this questioning

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

Following aspects would a

process. Sometimes they are as simple as "And?," "So?," etc.

Be a professional

Your professionalism mus

dd to the challenges in developing combination products:

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

t always be present. Relationship selling is about you and not about your competition. Knocking the competition is

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

again more about your ego and not about your prospect. See Tip #1

Tell stories through client testimonials

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

i>

By using third party testimonials, you can quickly share the value you bring to understanding their current sit

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

uations. Again, storytelling removes your ego especially when you focus on your clients’ successes.

Send hand

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

Professional from academic institutions, pharmaceutical industries, health care indust

written thank you

Always remember to send a written thank you for the opportunity to meet with the prospect.

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

The note can also confirm you next meeting. For the most part as there are always exceptions, people buy from othe

.

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

r people who truly care about them.

Relationship selling begins with relationship building. The quality of

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

Companies that provide selfless information through particip

time you put into building the relationship will be directly proportional to the increase in sales that you receive

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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Given the number of items on your meeting management “to do” list — negotiating rates and space, analyzing contracts, sending out requests for proposals, planning the program, making food and beverage decisions — you might be tempted to “steal,” or reallocate some time (and funds) from the marketing of your meeting. But that could prove to be a costly mistake. Need convincing?

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