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Digg It - Community Involvement - Good Marketing
Every marketing expert will tell you that a key to successful marketing is name recognition. Millions and millions of dollars are spent each year on advertising
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
and public relations, but many companies often overlook another way for people to learn about their company and its products and services. This method is communi
; 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
ty involvement and can be undertaken by a company with one employee or one with thousands.
Companies can donate money or volunteers—or both. We’ve all seen the
Companies can donate money or volunteers—or both. We’ve all seen the
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
ames in the newspaper of CEOs who serve on boards of local nonprofit organizations. While very beneficial, volunteering to help a nonprofit should be encouraged
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
for all employees, not just senior management. However, serving on a board of directors often entails a large time commitment, not to mention a financial commitm
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
nt. This is fine for some, but it’s not for everyone. Other opportunities include serving on committees, helping with a fundraising or other special event, or ev
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
en working on a one-day project.
Volunteering can also include groups of employees. For example, you could support a fundraising walk by offering to staff a wat
Volunteering can also include groups of employees. For example, you could support a fundraising walk by offering to staff a wat
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
er stop for walkers. Naturally, you want to make sure that your company name is prominent. You could also provide staff to tutor students or work in a soup kitch
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
n. Or, you could host a “dog wash” in your parking lot with proceeds going to a local shelter. If it’s OK with the organization, think of ways to use this as a m
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
arketing effort; every walker gets a water bottle with your company logo on it or every dog owner a leash with your company name imprinted. Be creative.
One imp
One imp
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
rtant thing to keep in mind—whatever you decide to support, even if you’re using it as a team-building project, never force your employees to participate. They’l
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
l benefit more from experience if it’s their decision to be involved. You may also consider inviting their families to join them.
Of course, companies can also
Of course, companies can also
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
make financial contributions. This can be actual cash, or in-kind support. We’re not talking about thousands of dollars. For some organizations, a $500 donation
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
ometimes makes a huge difference. “Things” can also be donated. Maybe you recently bought a new fax machine and your old one is taking up space. Or, maybe the of
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
fice supply store is offering a “two-for-one” deal on cases of paper. Your company takes two, while a nonprofit gets one. It’s important, however, to work with t
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
e organization’s staff to determine their needs. Don’t just assume they’ll want or need what you’re offering.
Finally, it’s important to match your efforts with
Finally, it’s important to match your efforts with
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
organizations your employees want to support. In a small company, one person may coordinate this. In a large one, it can be a committee. Ask your employees what
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
they want to support, and then go from there. For example, maybe it’s children’s health issues and homeless concerns. With just a little research, you can locat
.
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
the organizations—both large and small—that would benefit from your support.
Becoming involved in your community doesn’t take a large time or financial commitm
Becoming involved in your community doesn’t take a large time or financial commitm
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
ent. But, the benefits can be huge, for everyone involved. You feel good about your efforts and more people know about your company and its products and services
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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