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Here's a great way to market and have FUN! Whether you are the 1-on-1 person or the person who loves to be in front of a group, focus on building relationships. Relationships

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

, especially in a service business, are imperative in building your business. There is a business relationship called Strategic Partnership. Let's look at the difference 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

formal Partnership vs. Strategic Partnership

Definition:

Formal Partnership

"A legal contract entered into by two or more persons in which each agrees to furnish a part of

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

he capital and labor for a business enterprise, and by which each shares a fixed proportion of profits and losses." www.answers.com

Strategic Partnership/ Strategic Alliance

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

Creating a win/win situation for both parties. Looking for someone who matches your values and integrity. You have an understanding of each other's expectations. You have

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

Combination pro

a common audience and commitment. You share resources and may even create a program together. By aligning with different strategic partners, your visibility increases by the

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

number of each person's database. Hence, you get to market for someone else and they are marketing for you. I can't tell you how many entrepreneurs have told me how passionat

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

e they are about someone else's business and they could easily market them. Well, now's your chance.

Here is a great example I use in my program. It's called Lemonade for S

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

ale. Yes, this is for entrepreneurs -- the "big" kids who want to have fun with their marketing.

Several kids have a clubhouse. It's in need of repair so they create a Lemo

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

ade business to earn money. Their first 3 days they show an increase in business and their income from their sales is mounting. All of the sudden, on the 4th day, sales drop

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

like a ton of bricks. They started doing a little research and found a juggler at the end of their block. All of their customers were watching the juggler.

One of the kids

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

Following aspects would a

had an idea. She approached the juggler and proposed a win/win strategic partnership. He moved his entertainment right next to their lemonade stand and they made more sales

dd to the challenges in developing combination products:

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

than they did all week.

I'm going to leave it up to you.

1) What do you think was the win/win in this partnership agreement?
 Want the answer? See the link below in the

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

resource box. 2) What would you have proposed? 3) Just to get your thoughts in the right direction, think of other strategic partnerships you see everyday. Write down f

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

ive.

I'll give you a hint, depending upon your geographic location...

Caribou Coffee and Brueggers Bagels.

3 Key benefits of Strategic Partnerships:

* Share Cos

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

s (if any) * Expand your database with barely any work involved * Having someone to toss ideas back and forth is invaluable and FUN!

Who do you know that compliments

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

Professional from academic institutions, pharmaceutical industries, health care indust

your product or service?

How would you search out a possibility on the Internet?

How will you make your approach?

Do you have a win/win in mind? If not, it's OK. Here's a

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

n approach I often use:

Email: Hello. I was on the Internet searching for __________ and I came across your website. I'm very interested in hearing more about what you do.

.

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

Would you like to take a look at my site to see if there is a connection? I would be very interested in opening up a conversation.

Phone: Hello. My name is _____________

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

Companies that provide selfless information through particip

__. I saw your presentation and was very interested to hear more about your business. We may have a connection. Would you be interested in talking?

Make your marketing FUN

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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One of the challenges for any group or organization is finding new ways to raise funds. It seems that everyone sells candy bars or puts on a car wash. Below are some fundraising ideas that might be a nice change and help your group raise funds using something unique that isn't being done by every other group out there.

Take a tip from a fifth grade schoolteacher on how to plan successful corporate events. Recognize, reward and motivate with the right blend of activities and events.

A Hostile sexual harassment Environment occurs when unwelcome sexual conduct ruins an employee's work environment.

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