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Digg It - Negotiation Pro Says: Leave Them Feeling They Made A Great Deal!
How effective are you when you’re negotiating?
Perhaps you're like the young couple that sets out for the local car dealership. They want to spend no more th
Perhaps you're like the young couple that sets out for the local car dealership. They want to spend no more th
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
an $12,000.
They see a sticker price within a few thousand of that and they start negotiating.
The dealer won’t budge, but he asks: “Do you have a trade-in?
They see a sticker price within a few thousand of that and they start negotiating.
The dealer won’t budge, but he asks: “Do you have a trade-in?
; 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
Yes, it’s been in a recent crash on the freeway, but still drivable. To them, it’s ugly.
To the dealer, it’s a little nugget of gold.
He knows he can get
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
t least $6,000, just by selling it for parts, so he offers them $3,500. That’s more than a used car lot offered, so they figure, when you add up everything, e
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
en if they pay close to the sticker price for the new car, they’re doing slightly better than their $12,000 budget seemed to permit.
Everybody’s happy. The d
Everybody’s happy. The d
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
aler made TWO good deals, and the customers think they made one good one and one average one.
That’s typical. Dealers always try to bundle two deals, simulta
That’s typical. Dealers always try to bundle two deals, simulta
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
neously. That way, they can seem generous with one, and hold the line with the other.
Still, they profit, nicely.
But most important, they leave customers t
Still, they profit, nicely.
But most important, they leave customers 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
inking THEY’RE THE ONES WHO ARE SMART NEGOTIATORS, THAT THEY CAME OUT AHEAD.
That winning feeling will make them come back again and again, and they’ll even
That winning feeling will make them come back again and again, and they’ll even
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
oast about their haggling abilities to their friends.
When you negotiate anything, it pays to make it seem to your counterparts that they did really well.
B
When you negotiate anything, it pays to make it seem to your counterparts that they did really well.
B
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
t this has to appear genuine and “earned.”
When I decided to buy a Rolex watch, I contacted a childhood friend who was in the jewelry business. She ordered w
When I decided to buy a Rolex watch, I contacted a childhood friend who was in the jewelry business. She ordered w
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
at I wanted, recited a price, and having researched its retail value, I said “Okay,” without fanfare, and I felt it was a good deal for both of us.
A few mon
A few mon
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
ths later, at a social occasion, she remarked to me with no little consternation, “I lost my you-know-what on that deal!”
That struck me as a phony statement
That struck me as a phony statement
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
I didn’t openly bargain, at all, but she made it sound as if I extracted the price from her at the point of a gun.
In retrospect, I think she was trying to
In retrospect, I think she was trying to
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
ake me feel I got a great deal, but she went about it in a crass way that made her lose credibility.
Only if there is some WORK that you have to do will you
Only if there is some WORK that you have to do will you
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
eel you EARNED a “bargain.” That’s why there is so much back-and-forth at the car dealership, where the salesman has to check with his manager, multiple times
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
behind closed doors, while keeping you in suspense.
Often, he’s just out of sight, passing time, sipping coffee, so you’ll feel you’re making progress and ea
Often, he’s just out of sight, passing time, sipping coffee, so you’ll feel you’re making progress and ea
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
rning your discount. The more you are made to struggle, the sweeter the ultimate concessions will seem to be, and the less you’ll feel, after you drive away i
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
style, that they took advantage of you.
Of course, this all springs from basic human nature.
We appreciate what we have to work for much more than what is
Of course, this all springs from basic human nature.
We appreciate what we have to work for much more than what is
.
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
erely handed to us. Also, our egos crave gratification, the feeling that we’re smart, that we matched wits with the pro’s, and we at least held our own.
If t
If t
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
ey can make us feel we really took advantage of them, we’ll come running back to them time and again!
Now, that takes real negotiation skill, don't you agree
Now, that takes real negotiation skill, don't you agree
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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