Actual - Real Estate

One of the most difficult and uncomfortable parts of the home buying experience is when are clients and prospects make an objection or a statement that implies something is less then perfect. The to

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

ughest parts of objections are that they always seem to catch us off guard. It always seems as though everything is going well, and out of nowhere we get blindsided by a particular negative sounding

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

Examples of combination products may in

comment that knocks the wind out of us.

When moments like this come up, do you ever feel like your brain freezes up and you cannot think of anything to say? Then it gets somewhat awkward and uncom

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

fortable when in your moment of having a brain freeze, there is a moment of silence. As you scramble to think of something clever to say to react to their comment, your demeanor is now more shaky an

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

d less confidant which in turn is less believable. All of the sudden your control and the momentum that you built throughout the process have come to a screeching halt. This is not a good feeling,

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

Combination pro

ut I have good news for you, it isn’t your entire fault that overcoming objections is one of the hardest things to do.

The reason is because handling objections require a skill that isn’t readily ta

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

ught in schools or in training classes. That skill is listening.

Think about it. When you were in your formative years and developing your reading and writing skills in school, did you ever take a

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

listening class?

It’s funny; statistics show that we spend about 80% of every day listening, yet we have never been properly trained to do so effectively.

Dr Stephen Covey has been quoted as sayin

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

g, “seek first to understand, before being understood.” What he is essentially saying is that before we can help someone and find a solution to their needs, we need to understand their real wants.

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

Think about your doctor, one of the very first questions they ask is, “how are you feeling?” or “where is the pain? “What does it feel like?” These questions are used to determine what your symptoms

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

are so that a proper remedy or diagnoses can be made. Your doctor can take the answers to these questions, then determine which tests need to be taken to get more answers.

This is the same principa

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

Following aspects would a

l that should be used when trying to help your client find the home that they need.

Studies show that listening takes place in several different ways. If you thought the previous statistics were st

dd to the challenges in developing combination products:

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

artling, wait till you read these.

Listening within the numbers

7% of listening is done through verbal communication.

38% of listening is done through tone of voice.

55% of listening is done thro

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

ugh body language.

At first glance, these numbers are difficult to comprehend. After all, how can verbal speaking only account for 7% of how we gain understanding during communication? When you re

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

ally stop and think about though, these numbers make perfect sense.

Have you ever been speaking with someone, perhaps a spouse or a significant other, and not really been interested in what they wer

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

saying. Did you make less eye contact and just give short answers like “okay” or “uh-huh”? Perhaps you were distracted by the television and you just nodded. What kind of message do you think you

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

Professional from academic institutions, pharmaceutical industries, health care indust

were relaying to that person? Do you think they felt neglected or that they were not very important to you?

In the business of real estate, this happens very frequently as well. Think about a tim

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

e where you asked your potential home buyer a question about what they are looking for or what kind of needs they require in a new home. When they began to answer, were you listening to each word in

.

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

eager anticipation or were you waiting to speak again? If you were waiting to speak, you may have just missed the key detail that would have propelled you into making the sale.

Ineffective listeni

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

Companies that provide selfless information through particip

ng is one of the most frequent reasons for mistakes, misunderstandings and losing current clients. The inability to effectively listen sends the message that your client is not that important to you

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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