Digg It - Business

So many people come to me asking why their products and services are not doing well. I wonder if they ever had any experiences with effective marketing. I always ask them just three simple questions and they get the

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

ir answer within those simple questions.

I tell them no big thing, just simple things which I guess each and everyone involved in business must ask himself/herself. And I am very sure there is nothing alien about t

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

Examples of combination products may in

e things I tell them and most of the people already know them. The problem lies in the fact that we all tend to overlook some basic things in excitement of doing something BIG. I cam across so many people who launch

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

d their online business and websites with lot of enthusiasm and within weeks they quit because of not getting success as they expected. First of all, I would like to emphasize on the fact that it’s almost rare to ge

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

success within few days of starting any business and the saddest part is that almost 90% of the people quit after not getting success in initial days and assume that their business failed even if there was huge pot

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

Combination pro

ential in whatever they tried.

Some people have a natural flavor of business and they understand the basics well but most of the people are attracted towards business due to glamour and quick money but they forget

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

he most important things – Hard Work & Dedication. Well let’s come back to the topic we are interested in. Here are the 3 simple facts which each & every person who is starting a new venture must consider. I will n

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

t be surprised if after reading them you say – “What’s new in this? Everyone knows that!” I completely agree with you my dear friends, there is nothing new in this and almost everyone knows that but the point is ho

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

many of us really consider these things while starting new business, be it online or any other? I guess very few, and believe me, only those few are the one who have succeeded. Knowledge and applying that knowledge

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

are two separate things and that difference is what makes the BIG difference.

Fact 1: The first question you should ask yourself is that whether your customers actually know about your product or services? Doesn't

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

matter how world class product or services you have, it won't fetch you a single penny until unless people don't know about it. You need to make your products & services visible to world. You need to promote your st

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

Following aspects would a

dio through various channels like TV, Newspaper, Internet, Advertising at public places using billboards etc.

Fact 2: If you are already doing all this then the second question should be what your competitors are p

dd to the challenges in developing combination products:

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

oviding their customers and at what price? If they are providing more or less same products & services at lesser prices OR if they are providing better services than you then you need to do lot of rework in this are

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

a. Why anyone would want to buy a new brand sport shoe at $99 when Reebok or Nike sports shoe are available at $92?

Fact 3: The third and one of the most important questions I guess is whether you are targeting t

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

e right audience? Suppose you open a recording studio in a small town or village then what good it’ll do to you because there is almost zero probability that you’ll find customers there. In short, whether there 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

ny prospective customers available in your area? If it’s an online business then things might be different as I can buy anything available online from any part of the world but still the fact 3 is applicable to on

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

Professional from academic institutions, pharmaceutical industries, health care indust

ine business as well. Suppose you launch a website of women cosmetics and are using PPC (Pay per Click Advertising) to promote your website but the keywords you are using are not strongly targeted for the “right” au

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

dience. The point I am trying to make here is target your customers with a proper strategy instead of doing anything in hurry to kick off your venture.

Well, there can be many more reasons for any business failure

.

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

ut I guess if you can work out on the three questions above then you'll get a fair idea what's wrong.

In a nutshell, "effective marketing" is the key here. How you promote your products & services to targeted audie

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

Companies that provide selfless information through particip

ce is what will make you succeed or fail at the end of day. If you have nay questions for me or you need any help, feel free to contact me at webmaster@affiliateplugin.com

Shishir
http://www.affiliateplugin.co

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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In the past many business opportunity sellers would use industry specific statistics on their Web sites, brochures and even in videos, which they would mail to potential buyers. The Federal Trade Commission looked into this and found that many business opportunity sellers overused these figures to sell their wares.

Starting a Carwash from scratch can be a monumental task and even if you buy a carwash, which is already built with a customer base it can still be quite tough. Over the past 27-years I have competed with Fixed Site Carwashes with mobile car wash units in some 450 cities, 110 markets, 23-states and four countries fighting with vengeance for market share. Eventually our team got into the business on a fixed-site basis franchising carwashes. Of course previously we had concentrated on their weaknesses in the market place and then once in the business we fortified our market share using strategies that are only to be found in this book.

Maximization methodologies have long been used in business to produce quantities of quality ideas, faster. Creative writers who want to rapidly produce quantities of quality work should apply these same principles.

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