Answers - Business

In talking with a friend of mine, the topic of prospecting for new leads came up. He told me a story that provides a real life example o

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

f how easy it is for a salesperson to cross the line between honesty and dishonesty.

The salesperson he told me about sells the kinds o

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

Examples of combination products may in

f products most small offices or retail stores would need. He finds new leads by cold calling on businesses.

But this salesperson puts

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

a dishonest twist into his prospecting. He'll walk into a store and engage the owner or manager like he's interested in buying something

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

. He'll ask questions, show interest in the store or the products and even toss out a few well-placed compliments.

Then, when the conve

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

Combination pro

rsation is warm enough he'll go into his sales pitch.

I realize that, in the grand scheme of things, this is not a major ethical infrac

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

tion. Obviously people do things that are much worse than this.

But does that make it right?

This salesperson has engaged his prospect

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

by misleading them. He has misrepresented his intentions. He has chosen to deceive another person just to get them talking.

How can th

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

at be a good way to begin a potential business relationship?

Furthermore, why do some people think this is okay? Are people actually te

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

aching this in sales training seminars?

It's easy to dismiss these tactics as innocent. We might say they're no worse than the "little

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

hite lies" we sometimes tell. We might even argue that tricks like these are necessary and appropriate because prospects are so hard to

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

Following aspects would a

talk to. They "force" salespeople to resort to these misleading tactics.

But I disagree.

If you're going to begin a relationship with

dd to the challenges in developing combination products:

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

dishonesty then where does it stop? Where do you draw the line and start being honest with your new customer?

As a potential customer,

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

I'll see right away that you misled me into to talking with you. I will immediately distrust you. You'll find it much harder to build t

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

rust or credibility with me.

I don't think tricks like these are needed to get prospects to talk. That's the lazy way to sell.

If you

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

have something the prospect needs and if you approach them in a professional and appropriate way, eventually you'll connect with them. I

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

Professional from academic institutions, pharmaceutical industries, health care indust

f not, you try again later. If you try several times and get nowhere, maybe you hand them off to another salesperson to try. Or maybe yo

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

u remove them from your list for now. (You can't sell everyone.)

Maybe the bottom line is to remember the golden rule. Do you enjoy bei

.

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

ng lied to? Do you trust people who purposely mislead you to accomplish their goal?

Most of us do not like being misled. I think it's a

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

Companies that provide selfless information through particip

lousy way to begin a business relationship. My advice to this salesperson is to find a better, more honest way of approaching prospects

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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Evaluation has possibly caused more arguements in the training world than anything else. Why complicate things!?

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Answers - Avoid This Huge Selling Mistake and You'll Have Happier Customers

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