Digg It - Business

Who was that masked man?

In the “olden days”, salespeople also roamed their territory, shooting from the hip to sell their product. Lone Rangers themselves

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

, they aimed for a quick hit and hard close to get the deal. And working alone, they were the sole point of contact with the client’s representative. If either co

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

Examples of combination products may in

ntact moved on, the account was at risk, or in the least, valuable time and momentum were lost.

Riding into the sunset

Fast forward to 2006, where quick h

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

its often turn into very costly mistakes. To target and win significant business today, especially from large accounts, you must be prepared to invest heavily in

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

research, in building long term relationships, in assembling a team and in responding thoughtfully to an opportunity. Welcome to cross-functional teams.

Lon

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

Combination pro

e Rangers Don't Win Anymore

It has become rare for a single producer or relationship manager to be able to develop large accounts on his or her own. In the c

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

omplex world of the twenty-first century, peoples' talents are more specialized, so that we have entered the realm of team selling.

Choosing Your Posse: 5 Imp

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

rtant Considerations

Your modern day posse is a cross-functional account team. Consider what resources from various departments should be involved in the cli

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

ent relationship. Think beyond the obvious – how about shipping, IT, customer service – and others who could suggest an innovation that would help your customer ac

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

hieve an objective. To start building your cross-functional account team:

1. Don’t forget to include senior management. Matching executive to executive may help

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

you gain access and can remove political barriers.

Miller Heiman’s 2006 research study found that in 77% of winning sales organizations, senior-l

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

Following aspects would a

evel executives actively participate in the sales process.

2. Align your team with your customer’s team in peer-to-peer relationships. Select i

dd to the challenges in developing combination products:

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

ndividuals who:

Are matched with similar level client contacts for better communication.
Can bring insight on specific industry trends or rese

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

arch.

Have a communication style that matches yours and that of your client.

3. Keep the team’s composition and responsibilities flexible to m

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

et the client’s needs in a dynamic and changing environment.

4. Ensure regular team contact with your client. Your value depends on your ability to understand th

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

eir changing needs in order to respond effectively.

5. Hold an initial strategy session and brainstorm every 60-90 days to keep your strategy fresh and to address

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

Professional from academic institutions, pharmaceutical industries, health care indust

issues. This will also keep your account top-of-mind with your team. The days are past when the “Lone Ranger” could hold all relevant information in his/her head.

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

Your team can generate new ideas and out-of-the-box thinking that one person can’t do all alone.

Miller Heiman Can Help.

These recommendations are based

.

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

on Miller Heiman’s LAMP® Workshop, which provides strategies for building your team and resources to grow your key accounts. If you’d like more information on this

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

Companies that provide selfless information through particip

topic, or would like to discuss the results you’d like to improve, contact us at millerheiman.com and we’ll recommend a solution that will best address your needs

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.diggit.org.ua/article/38310/diggit-Even-the-Lone-Ranger-Needs-a-Posse.html">Even the Lone Ranger Needs a Posse</a>

BB link (for phorums):
[url=http://www.diggit.org.ua/article/38310/diggit-Even-the-Lone-Ranger-Needs-a-Posse.html]Even the Lone Ranger Needs a Posse[/url]

Because of the colorful designs to choose from, you can catch the attention of other people. People will be aware of what you are trying to promote. Whether it is a little girl who is sick, or you are trying to promote your product, I believe that these rubber silicone wristbands are a good promotional tool.

This article tells the person with no experience driving a truck what does it take to get trained and get a job in the industry. It also describes pay scales and the difference between a company driver and an owner operator.

It is possible to find about 2,050,000,000 “problems” on the internet. Often, problems do not get solved...They saunter around like orphans that are not taken care of...

Tags

Links

Digg It - Even the Lone Ranger Needs a Posse

Related Articles: