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Wiki Articles - Finding Potential Wholesale Accounts
Every retail store is a potential user of specialty merchandise or gift items.
That's a pretty broad statement, but it's true. And where some Wholesalers might make a mistake is to approach only the obvious choices; gift shops, novelty and collectible outlets, general merchandise dealers and the like.
But what abo
That's a pretty broad statement, but it's true. And where some Wholesalers might make a mistake is to approach only the obvious choices; gift shops, novelty and collectible outlets, general merchandise dealers and the like.
But what abo
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
ut a locksmith? Or a bookstore? How about stationary stores? More and more of them are featuring gift displays. So, the local phone directory is a ready-made list of potential clients. Add to that the retail stores you regularly patronize, and you're ready to go.
While nearly every retail store is a potential clien
While nearly every retail store is a potential clien
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
t, those stores will generally fall into three basic categories: Mom and Pop, Small Chain, and Franchise or Major Chain.
SELLING TO "MOM AND POP" STORES
The local stationery shop, liquor store, truck stop, convenience market, gift shop, and all those -her privately owned retail stores that line the streets and str
SELLING TO "MOM AND POP" STORES
The local stationery shop, liquor store, truck stop, convenience market, gift shop, and all those -her privately owned retail stores that line the streets and str
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
p malls of virtually every city and town are prime prospects for your merchandise.
Here's why they should buy from you:
1.You offer fast, personal service.
2.Your prices are outstanding.
3.Your product quality is excellent.
4.You offer a tremendous selection.
5.Your product line is constantly u
Here's why they should buy from you:
1.You offer fast, personal service.
2.Your prices are outstanding.
3.Your product quality is excellent.
4.You offer a tremendous selection.
5.Your product line is constantly u
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
pdated with new items.
6.You're local.
7.You're dependable, professional, and easy to work with.
Of course, that last reason is up to you, and it's CRITICAL! You've probably heard the saying: "People do business with people they like." It's true!
These types of stores are usually family-owned and operate
6.You're local.
7.You're dependable, professional, and easy to work with.
Of course, that last reason is up to you, and it's CRITICAL! You've probably heard the saying: "People do business with people they like." It's true!
These types of stores are usually family-owned and operate
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
, so in all likelihood the folks working in the store are the ones you'll want to talk to.
Start ... with a letter, phone call, or best of all a personal visit. Introduce yourself as a local wholesaler of popular gift merchandise, and ask to speak to the person who handles purchasing. Make an appointment to show yo
Start ... with a letter, phone call, or best of all a personal visit. Introduce yourself as a local wholesaler of popular gift merchandise, and ask to speak to the person who handles purchasing. Make an appointment to show yo
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
ur line. Don't worry if you get turned down the first time. Call again. And a third time. Don't stop until you get that appointment!
Next ... show up for the appointment on time, with samples, business cards, catalogs, price lists, and your order book on hand. Conduct a friendly, brief, yet thorough presentation. E
Next ... show up for the appointment on time, with samples, business cards, catalogs, price lists, and your order book on hand. Conduct a friendly, brief, yet thorough presentation. E
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
plain how these products can increase THEIR sales - remember; they're interested in what you can do for them, not the other way around.
SELLING TO SMALL CHAIN STORES
Occasionally you'll run across small chains, where there may be several,even a couple dozen stores operating under the same name. Often a single owne
SELLING TO SMALL CHAIN STORES
Occasionally you'll run across small chains, where there may be several,even a couple dozen stores operating under the same name. Often a single owne
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
r, who oversees much of the purchasing for all the stores, runs these. Again, you offer all the same reasons this person should buy from you, and you'll follow the same steps in making contact, handling a sales appointment, and filling the order.
Payment:
Try for the identical terms you'd propose to a "Mom and Pop
Payment:
Try for the identical terms you'd propose to a "Mom and Pop
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
store. Again, if possible, don't fill an order without at least a deposit large enough to cover your costs. Otherwise, you'll have to cover the difference until they pay you the balance.
"MOM AND POP" STORES
1.Easy to meet the person in charge of buying.
2.Can be a friendly, less formal relationship.
3.
"MOM AND POP" STORES
1.Easy to meet the person in charge of buying.
2.Can be a friendly, less formal relationship.
3.
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
Smaller orders.
4.Often immediate payment
SMALL CHAIN STORES
1.One person (possibly the owner) may be in charge of buying for all stores.
2.Can be a friendly, less formal relationship.
3.Orders may be larger, due to more stores.
4.You may still be able to negotiate immediate payment, or at leas
4.Often immediate payment
SMALL CHAIN STORES
1.One person (possibly the owner) may be in charge of buying for all stores.
2.Can be a friendly, less formal relationship.
3.Orders may be larger, due to more stores.
4.You may still be able to negotiate immediate payment, or at leas
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
t a substantial deposit.
5.Sometimes a chain-of-command to go through.
6.Usually a professional, "bottom-line" relationship.
7.Potentially huge orders.
8.Possible "Net" payment terms.
SELLING TO LARGE CHAIN STORES AND FRANCHISES
Here's where you can make some really high-volume sales. Don't be
5.Sometimes a chain-of-command to go through.
6.Usually a professional, "bottom-line" relationship.
7.Potentially huge orders.
8.Possible "Net" payment terms.
SELLING TO LARGE CHAIN STORES AND FRANCHISES
Here's where you can make some really high-volume sales. Don't be
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
ntimidated by the size of the operation, or the fact that you're contacting a corporate buyer in some instances. You've still got all those same great reasons that this company should buy from you.
Start with a personal visit to the store. Ask the store manager for the name of the person responsible for purchasing
Start with a personal visit to the store. Ask the store manager for the name of the person responsible for purchasing
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
giftware. In some cases, the manager has the authority to make those purchases (especially if it's a franchise, in which case the manager may also be the owner). Other times, you'll be dealing with a corporate buyer.
If the manager has the purchasing authority, you'll proceed as you did in the examples above. If a
If the manager has the purchasing authority, you'll proceed as you did in the examples above. If a
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
orporate buyer handles all purchasing, you'll contact the corporate buyer. Introduce yourself. Give a brief summary of the lines you carry that you believe will be a good fit for her stores. Ask for a personal appointment.
Important: Many times - maybe even most of the time - you'll get turned away on your first ca
Important: Many times - maybe even most of the time - you'll get turned away on your first ca
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
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
ll. Don't be discouraged! The buyer may simply be testing your professionalism and follow-through. By calling again in a couple weeks, you demonstrate those qualities.
Next ... be on time and extremely businesslike when you show up for the appointment. Get to the point; and be ready to talk price. The buyer's job i
Next ... be on time and extremely businesslike when you show up for the appointment. Get to the point; and be ready to talk price. The buyer's job i
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
to get the best possible price, so the more you can help her, the better your chances of landing an order.
Next ... when you get a Purchase Order, immediately contact your supplier to determine availability. If there's a problem, notify the corporate buyer right away:
Example: "I appreciate your order for 250 of
Next ... when you get a Purchase Order, immediately contact your supplier to determine availability. If there's a problem, notify the corporate buyer right away:
Example: "I appreciate your order for 250 of
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
Item #29435. I'm able to deliver the bulk of the order - up to 150 items - immediately. I'll deliver the balance by the end of the month. Will that be satisfactory?"
Finally ... fill the order and have it shipped directly to each of the stores, in the quantities the buyer has specified.
Payment:
In dealing with l
Finally ... fill the order and have it shipped directly to each of the stores, in the quantities the buyer has specified.
Payment:
In dealing with l
.
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
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
rge chains and some franchises, expect that you'll be asked to accept "Net" terms; typically "Net 30." Technically, this means they are required to pay you the full amount due for the order within 30 days of merchandise delivery.
In The Real World ...
... this could mean up to 60 days before you receive any paymen
In The Real World ...
... this could mean up to 60 days before you receive any paymen
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
t. And with "Net" terms, you'll receive NO deposit. So, you have to "float" the cost of the order for that time.
Some Wholesalers use credit cards as "financing" for these larger orders. That way, they're not out-of-pocket for the costs, and when payment arrives they're able to payoff the card and keep the profits
Some Wholesalers use credit cards as "financing" for these larger orders. That way, they're not out-of-pocket for the costs, and when payment arrives they're able to payoff the card and keep the profits
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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