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The next time you’re shopping for clothes in a department store, take a closer look at the price tags. You’ll probably notice that each price tag starts with one

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

price, but then counters with another. They say, “Was $60, Now $30,” or, “Regular Price $69.99, Our Price $49.99.”

These stores are taking advantage of an incr

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

Examples of combination products may in

edibly effective persuasion technique called “psychological sequencing.” By sequencing the order in which offers are presented, psychologists have found that ma

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

rketing and salespeople can get customers to purchase more products at a faster rate.

You can use the same process to make a huge impact on your sales. This art

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

icle focuses on exactly how to do it.

The Psychology of Sequencing Have you ever put your finger into freezing cold water and then put the same finger into slig

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

Combination pro

htly cool water? What happens? After putting your finger into the freezing cold water, it provides a “sequencing effect,” and the slightly cool water actually f

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

eels warm. Your perception has changed.

You can use a similar process to make more money. Infomercials, for example, tell us, “You’d think that this wonderful

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

roduct would cost $200 or $300, but we’re offering it to you today for only $29.99.”

Grocery stores use psychological sequencing to easily make more money. They

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

place price tags next to food items saying, “$4.95—or $3.00 With Your Highlander Plus Card).”

Direct mail experts have learned how to maximize profits by sequen

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

cing their messages. They say, “How much would you like to donate? __ $100 __$75 __$50 __$25.” Research shows that this strategy increases the amount of mon

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

ey people are willing to donate.

How to Use Sequencing to Blow the Roof off Your Profits There’s an important lesson in all of these examples: You can dramatica

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

Following aspects would a

lly increase you sales once you get good at applying the principle of psychological sequencing.

If you want to immediately begin profiting from the power of psyc

dd to the challenges in developing combination products:

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

hological sequencing, start with the following three steps:

1. Start high and work your way down. If you sell televisions, for example, start your presentation

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

by encouraging customers to look at your more expensive TVs first. Say to them, “Let’s start by looking at some of the more high-end TVs so you can get a feel f

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

r all of the features offered.” Why should you start with the expensive items? After looking at the $1,500 TVs, the $800 TVs seem more affordable. As a result,

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

the customer is more likely to buy, and he is also more likely to buy a more expensive TV.

2. Be creative with the way that you sequence. I have an auto mechan

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

Professional from academic institutions, pharmaceutical industries, health care indust

ic who makes me feel good about giving him money. If he has to call and tell me that I need costly new rear brakes, he jokingly says, “Scott, you need a new engi

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

ne and transmission.” After taking my breath away, he says, “I’m just kidding, Scott, you really only need rear brakes.” I think, “Wow, what a relief, I just nee

.

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

d the brakes.”

3. Make psychological sequencing permanent. Do you want to consistently make more money? Find a way to make psychological sequencing a permanent

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

Companies that provide selfless information through particip

part of your presentations. Each offer should provide your customers with a comparison to another price or product that makes your offer look like the best deal

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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Live chat is a great way to communicate with business associates without having to go through the hassle of e-mail or phones. Phones are instant communication, but you cannot send

Average sales people make one very common mistake. They want to make the sale so badly that they lose focus on the most important thing. Getting the sale is not the most important thing! So what is more important? Read on to find out.

Handling sales people that can put up the numbers but break every rule in the book, someone that can’t get along with their peers and someone that drives inside sales people crazy can be very challenging for a sales manager. This will create a situation that ultimately will affect overall company performance regardless of this sales person’s individual success. This is especially true if this sales person holds the sales manager hostage knowing his numbers help keep corporate off the sales managers back.

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