Digg It - Business

Many small business owners do little to no activities to promote their products and services. But, ask yourself this, "If I don't promote my ser

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

vices, how will people know what I have to offer?" We are all consumers and everyday we see or hear ads promoting ones product or service. Well,

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

Examples of combination products may in

you may not have the budget for monthly radio, TV, or print ads; but there are several low cost ways you can promote your services. Thes

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

e are the most common ways:

Flyers & Brochures
News Releases
Networking
Public Speaking
Discount Coupons
Onli

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

e Directories

Newsletter & Articles

Flyers & brochures - are affordable and can be used as a direct mail piece, used in your informa

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

Combination pro

tion packet, or used during a tradeshow. Sometimes this can run you a few hundred dollars if you hire someone to do them for you, or use a do-it

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

-yourself services from an online vendor.

News Releases-creating a news release and sending it to the media when you have some news worthy info

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

mation is a great way to get free publicity. Be care though. The media only wants releases that have a clever angle or is a hot topic. If your s

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

tore just got a new arrival of silk shirts by a top designer, don't send out a news release mentioning it. Try to come up with an angle instead.

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

Networking - anyone who provides products or services should be networking; whether its at your local chamber or local organization. Networkin

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

is your opportunity to qualify prospective customers, build relationships, and promote what you have to offer.

Public Speaking-not many people

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

Following aspects would a

have the guts to get up in front of a crowd and start talking about their business, but this is a low cost way to promote what you have to your

dd to the challenges in developing combination products:

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

target market. If you'd rather jump out of an airplane than speak publicly, then join your local Toastmasters. Toastmasters will help you get o

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

ver that fear and become a polished speaker.

Discount coupons - you've seen them; on your doorknob, on the counter at your local store, or in t

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

e mail. Discount coupons or offers can be used as incentives to get potential customers to try your products or come into your store.

Online di

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

rectories - an online directory is like the phone book, but online. It contains categories of topics with listings of products and services. Mos

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

Professional from academic institutions, pharmaceutical industries, health care indust

t directories are free and you can include a website link for an additional fee.

Newsletters and articles - create your own monthly newsletter

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

romoting your services. Be sure to include any special offers or discounts that are available. Always get permission to send an email newsletter

.

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

to a customer. You can obtain permission by having a sign up link on your website or a sign up card near your cash register. My favorite is Con

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

Companies that provide selfless information through particip

stant Contact.

Well you have it. Several low cost or no cost ways you can promote your business in 2006. Start drafting your marketing plan now

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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Being a private investigator is a fun and invigorating avocation. Find out about the career opportunities that private investigation offers.

As the Grants Committee Chair on the Board of an Educational Foundation that gives small grants to teachers, I have participated in two grant review sessions. There, I learned more than I could have in two years of simply writing grants. Reading grants was like interviewing candidates to invest the money we spent all year fundraising and taught me the no grant will be funded if it appears financially risky. Here are some tips on creating a budget that will attract funders, rather than scare them off.

We all know the importance of training and developing our staff. It keeps team members motivated, generating increased productivity. They eagerly use their skills to the benefit of the business. So why is it that we continue to take short-cuts with training?

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