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One marketing strategy that does not seem to fail is sales incentive. And that's the reason why it is also one of the most common types of marketing strate

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

gy that is used to increase the profit of the business and even motivate employees to perform in the top of their game.

You too can increase the profit of

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

Examples of combination products may in

your business by following these few tips:

Know what your employees want, then give it to them. It is useless to have a very good sales incentive program

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

if your employees really don’t want what they will receive. What you aim as a motivating factor will not be as motivating after all. So, ask for your empl

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

oyees' opinion on what would be the perfect sales incentive for them. Take note that 20 percent of your salesforce is already motivated. Do not try too har

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

Combination pro

d to target everyone and expect that the bottom part of your salesforce would provide the same output. Still, though it may not work for all, sales incenti

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

ves will definitely boost the motivation of at least the next 20 percent of your salesforce making your business more cost-effective.

If you want to play

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

it safe, it would be better if you give cash bonuses or salary increase. This will fit everyone and will definitely be very much appreciated by all.

Keep

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

it Simple. Many sales incentive programs are doomed to fail before they are even introduced to the employees. The reason is that they are too complicated t

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

o win and too difficult to understand. Matters get worst when the informations are not addressed properly. The result is confusion among employees and the

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

people responsible in the program, not to mention the waste of money and the lack of internet shown by the employees toward the program.

Keep it simple. T

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

Following aspects would a

ry not to sound as if you are too genius that you were able to form the idea and nobody else can't. Inform you employees well on how incentives are won.

T

dd to the challenges in developing combination products:

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

o level out the playing field, educate all your employees with the right methods and procedures. Guide and motivate so that they can win the sales incentiv

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

es. You have invested on this big, don’t attempt to waste it.

Reward immediately. Lack of interest sets in if the span of winning and rewarding is getting

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

too long. Once they achieved the necessary requirement for an incentive, reward immediately. Do not let the awarding sit and wait until your employees are

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

convinced that they will not get an incentive after all the effort they have done.

Also, it is equally important not too set a lengthy program. Take this

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

Professional from academic institutions, pharmaceutical industries, health care indust

an example: If a mother tells her son that he will receive a bike if he will keep his room clean for 1 year, he will find it difficult to do it and will n

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

ot bother to get the incentive at all. Don’t let your employees lose interest on your program by committing the same mistake.

RECOGNIZE... There is no suc

.

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

h a thing as too much recognition. If someone has achieved a significant sales feat, recognize him. Give him awards for his achievements. And do it where o

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

Companies that provide selfless information through particip

thers may see. People are motivated when they know that their contributions are being recognized. Use this as a tool to increase your profit a hundred fold

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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