{"id":17359,"date":"2020-03-05T08:56:48","date_gmt":"2020-03-05T08:56:48","guid":{"rendered":"https:\/\/www.pharmamanage.gr\/2020\/03\/05\/ten-tips-for-a-successful-deal\/"},"modified":"2024-02-02T10:04:43","modified_gmt":"2024-02-02T08:04:43","slug":"ten-tips-for-a-successful-deal","status":"publish","type":"post","link":"https:\/\/www.pharmamanage.gr\/en\/ten-tips-for-a-successful-deal\/","title":{"rendered":"Ten Tips for a Successful Deal"},"content":{"rendered":"

Negotiations with commercial representatives are crucial.<\/strong><\/p>\n

Your profit margin depends on them and there is no room for improvisation.<\/p>\n

Negotiating with a sales representative between two clients, when the day is already busy can be hurried.<\/p>\n

For this reason, those meetings need to be scheduled.<\/strong><\/p>\n

The size of the pharmacy and its significant purchasing capacity are decisive factors in obtaining greater discounts from the supplier.<\/p>\n

But when dealing with a professional salesperson, that’s not always enough…<\/p>\n

Some pharmacists are better negotiators than others.<\/strong><\/p>\n

Those who know how to buy are accurate and realistic.<\/p>\n

They are entrepreneurs who have prepared the negotiations perfectly and have requirements that are always justified.<\/p>\n

Thus, to reach the top level of the discount scale, they do not refer to sales for the previous year, but to progress targets for the following year.<\/strong><\/p>\n

You may not be born a good negotiator, but you can be!<\/p>\n

Follow these 10 tips and practice.<\/p>\n

1. Do not buy based on discount criteria<\/strong><\/p>\n

When buying, you must negotiate the net purchase price to set a competitive selling price while maintaining your profit margins.<\/p>\n

If the deal is not in the right direction, make a plan B: a free product offering or a commercial promotion with a company promoter.<\/p>\n

2. Analyze your sales<\/strong><\/p>\n

Trading policy according to market volume has become essential for any trading deal.<\/p>\n

Focusing purchases on a limited number of products is the key to achieving greater discounts.<\/p>\n

The only way to improve your purchases, is to identify and analyze the products that sell the best.<\/strong><\/p>\n

Therefore, it is necessary to identify the Top 100 products that sell the best and to know the profits you made.<\/p>\n

\"Discus<\/p>\n

3. Prepare the interview with the salesman<\/strong><\/p>\n

You must be well prepared to negotiate.<\/p>\n

Discus with your team to get comments and tips related to this deal with the dealer and point out any obstacles you face.<\/p>\n

This analytical task will lead to defining the objectives of the deal with the salesman.<\/p>\n

4. Choose with the right criteria<\/strong><\/p>\n

To take advantage of attractive direct trading, you need to concentrate your purchases on a limited number of brands in order to buy at higher discount rates and better profit margins.<\/p>\n

Profitable trading also means buying into distinct products, taking into account Pareto’s law.<\/strong><\/p>\n

This law is based on the principle that 20% of codes generate 80% of turnover.<\/p>\n

The goal of the buyer is therefore to concentrate their orders so that 90% of their purchases are made up of the highest selling codes.<\/p>\n

5. Keep the balance of your purchases<\/strong><\/p>\n

The sales representative comes with an order target that includes offers, but also new product placements and old code updates, but all these does not necessarily correspond to your needs.<\/p>\n

Consider that when you buy a new product, you have to reduce the stock of a similar old products.<\/p>\n

6. Make a “win-win” agreement<\/strong><\/p>\n

There are two types of negotiation: the win \/ lose relationship and the win \/ win relationship.<\/p>\n

In the first type, the buyer’s goal is to obtain a high direct discount, but perhaps the relationship with the sales representative will be affected.<\/p>\n

The sales representative and the buyer have converging but different goals and interests.<\/strong><\/p>\n

The sales representative wants to place the largest quantities with restrict commercial and financial terms.<\/p>\n

And the pharmacist must obtain the necessary and sufficient quantities and the right prices to sell.<\/strong><\/p>\n

An agreement will be reached when these two goals converge on both sides.<\/p>\n

\"The<\/p>\n

The higher the volume you negotiate, the more demanding you will be in terms of trading.<\/strong><\/p>\n

The principle is to allow the sales representative to disapprove some of your requests and gain acceptance elsewhere.<\/p>\n

Indeed, the agent, who wishes to maintain a good relationship with his client, cannot take the risk of refusing everything.<\/strong><\/p>\n

Something has to be given to you when you ask for!<\/p>\n

7. Exclude products with low sales<\/strong><\/p>\n

You should not be tempted by big discounts on products that does not sell.<\/p>\n

8. Negotiate beyond price<\/strong><\/p>\n

The net purchase price is not the only point of discussion with your supplier.<\/p>\n

It is also necessary to negotiate the “sales” tools that will help you to increase sales.<\/strong><\/p>\n

The job of the sales representative should be to become a brand development consultant at the point of sale.<\/p>\n

If a product does not sell, the responsibility for that failure will be shared between the buyer and the seller.<\/p>\n

9. Do not succumb to emotion<\/strong><\/p>\n

When negotiating, show stability and realism.<\/p>\n

Negotiation time is without emotion.<\/strong><\/p>\n

The goal of a negotiation is for both parties to believe they have won.<\/p>\n

Therefore, always negotiate with the desire not to break the thread and keep in mind that a concession on your part should always be followed by a concession on the part of your interlocutor.<\/p>\n

And when the negotiation seems to lead to a dead end, don’t hesitate to take the time to think about it, or tell your interlocutor that you will eventually turn to another competing brand.<\/strong><\/p>\n

Finally, once the deal is over, you should summarize everything that has been recorded, asking the seller to validate all of these points one last time.<\/p>\n

10. Request written agreements<\/strong><\/p>\n

Everything must be written on the order form as soon as the deal is completed:<\/p>\n

Number of products purchased, discounts and net purchase price, benefits provided, supply conditions, payment terms, team training plan, expired receipt, trial doses and other promotional tools…<\/p>\n

Before leaving, the salesman must give to the pharmacist a copy of the order form, signed by both parties.<\/p>\n

www.PharmaManage.gr\/en\/<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

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