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Sales force incentives are a vital part of business and one of the best reasons is that they work. This is one of the few motivators that can rev up a sales force for pennie

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

s on the dollar. However it has to be well designed and executed to reap the full benefits and get the most out of your sales force.

The reasons sales force incentives are

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

Examples of combination products may in

so effective, is that they appeal to the basic instinct of a true sales person. The need to compete, to be recognized for doing well and essentially having their ego stroked

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

and last but not least the ability to acquire more stuff for doing what they love to do. A good sales force incentive program can almost always assure a business owner that

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

they will get results, but there are several rules of engagement that they have to keep in mind. The sales force incentive requires a concise goal. This may be as basic as

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

Combination pro

ncreasing sales, but there are other objectives that can be added to a sales force incentive. These range from generating new accounts to launching new products or even expa

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

nding your sales territory. The sales force incentives goals will greatly depend on where that particular business sees they are lagging behind the competition, or that ther

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

is an untapped market they need to explore.

The next thing a sales force incentive needs to accomplish is a clearly defined list or statement of accomplishments. In other

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

words your sales force needs to know precisely what the amount of increase in numbers that are expected. Is it X number of dollars, or X number of new accounts? The comparis

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

ns can be from previous years or from the competition, however the current business climate and the potential of your sales team need to be taken into account. The sales for

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

ce incentive can be trick in that, make it too unattainable and you end up demotivating the team , make it too easy and you will not make the returns needed to justify the m

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

Following aspects would a

oney spent on sales force incentive.

The next important part of an effective sales force incentive is the budget. The budget should not exceed 10% of the projected sales in

dd to the challenges in developing combination products:

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

rease, and should not be less that about 1.5-2%. This budget includes not just the sales force incentive but the promotion such as awards luncheon and also the administratio

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

n of this program in the form of over time and the like. Also be prepared to be flexible in case it is very successful you might want to continue it or if it is not working,

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

revamp it.

Picking the right sales force incentive is also crucial to its success. Cash usually works because most people like cash, and there is no cost to storing it. The

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

down side is people tend to forget after it is put into an account or mutual fund, and it always a clear show of how much the company spent on the sales force incentive. Ta

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

Professional from academic institutions, pharmaceutical industries, health care indust

e a team on a vacation and you can also gain the benefit of building the team spirit while rewarding them. Not everyone will agree though that travel is a good sales force i

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

ncentive since some people prefer to take vacations to get away from the people they work with. Merchandise is also good as long as the quality of the products match the sal

.

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 force. Also the merchandise will be around for a long while to remind the team or individual of their accomplishments.

The main thing is to keep the sales force incentive

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

Companies that provide selfless information through particip

duration short. People are better motivated in the short term. Quicker rewards will help reinforce the behavior desired by the company initiating the sales force incentive

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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