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If you're in the business of sales, you probably know that making sales isn't easy. It gets even harder when you don't have a gra

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

sp on customer psychology or when you don't really understand the sales process. The objective of selling is to close the deal, b

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

Examples of combination products may in

ut it is far more important that you're satisfied with the outcome.

This won't be the case if you constantly find yourself loweri

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

ng prices.

However, lowering prices is a standard in the sales industry. It's probably happened to you. You ask your prospect t

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

close and for some reason they say no or give you an excuse. What did you do in this situation?

Many people's first instinct is

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

Combination pro

to panic and automatically lower the price. However that's a huge mistake because the problem is usually caused by a lack of und

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

erstanding, not the inability for afford your product or service. Your prospect most likely doesn't understand the true value of

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

what you're offering or genuinely feels that they don't want it.

It's becoming increasingly common in sales to expect that you'll

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

need to pass a discount over to your customers. Many sales people start calculating the math in their head before even asking wha

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 would convince the customer to buy.

Here's a simple yet highly effective solution. When a prospect turns your offer down, poli

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

tely ask them why they won't buy instead of automatically offering a lower price. It only takes a few seconds, yet in those few s

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

Following aspects would a

econds you can learn exactly what you need to do to gain their business at the price you want.

However, before that even happens

dd to the challenges in developing combination products:

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

ou need to instill true value in your product. Effective selling can overcome a lot of rejection before they even get the chance

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

to say no. Stress to the customer that what they're getting is far more valuable than the small price you're asking them to pay.

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

If you don't honestly feel this way then you should honestly be selling something else.

You do not need to lower your price to m

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

ake sales. This will only decrease your profits and leave you feeling unsatisfied. Even worse, it can lead to bigger problems li

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

Professional from academic institutions, pharmaceutical industries, health care indust

e decreased product/service value, and never-ending price wars because your competitors start dropping prices as well.

Keeping yo

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

ur prices reasonable yet firm will be good for your business. You may not get as many customers, but the customers you do get are

.

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

the ones who understand that you're offering something with real value. These are the type of people that are likely to become r

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

Companies that provide selfless information through particip

epeat customers and they're generally easier to work with. Cutting prices just to close individual sales is bad news for business

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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Coaching and Consulting client. Different needs but same results: moving step-by-step to the top. Take advice from someone who has successfully worked from home for the last eight years.

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