Digg It - Business

First of all - keep in touch with your customers! One of the best ways to do this is with a newsletter. Today it’s easier than ever to have a newsletter – use email. If you don’t have

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

your customer’s email addresses already, start asking for them when they pay for something at the cash register. Give them an incentive for signing up for your free newsletter – maybe

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

Examples of combination products may in

a free gift or a small discount or even a prize draw they can be entered into.

Use your newsletter to let customers know about sales in advance, extend special invitations to past cus

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

omers only and open the store during non-regular hours. A popular sporting goods store where I live does this twice a year - and the lineups to get in weave through the store parking

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

lot and people talk about the sale for weeks – before and after it happens!

This is a GREAT publicity AND sales tool. Add other incentives in the newsletter like: a 10% discount for

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

Combination pro

ast customers on a new product line, or offer an old customer a 5% discount on their next purchase if they bring a new customer to a special sale. Give customers a gift for every refer

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

ral they send to you.

Can you team up with other businesses in your area to offer a “package” promotion? If you are a make-up artist can you team up with the high end dress shops in y

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

our community to offer a “bonus” make up package for prom or other special events? By combining services both businesses win and customers love it because they save time since they don

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

t have to run all over town!

This would work well if you gave manicures, pedicures or did hair as well. Professional photographers can also find unique ways to team up with all of the

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

se businesses as well. Think “strength in numbers”! If you save the customer time and effort running around THEY WILL BUY FROM YOU and very much appreciate you.

Can you offer a “deal

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

f the month” package? Let’s say you own a restaurant on a beach and October through February are always very slow – and so is your cash flow! Due to construction delays you didn’t open

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

Following aspects would a

until September which means you are going to be struggling this winter unless you get an influx of cash and FAST! How about selling a twelve month package of meals? Set a price for a

dd to the challenges in developing combination products:

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

3 course dinner (starter, entr?e and dessert), multiply by twelve and then take off a small percentage since the customer pays all at once.

Selling these packages allows you an instan

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

influx of cash. You can encourage people to use them as gifts (one gift certificate at a time or the whole book) or they can keep them for themselves to use when they’re low on cash.

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

This idea can be used in many industries, not just food. How about for pet grooming, house cleaning, yard care, car detailing, hair cuts, manicures – any product or service that is bo

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

ght more than once!

Is there a time of day, or day of week that is slowest for your business? That’s when you have a sale! In the area I live Tuesdays are “cheap movie nights” and all

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

Professional from academic institutions, pharmaceutical industries, health care indust

tickets are half price – it’s because historically Tuesdays are the slowest nights at the theatre. Now most Tuesdays the theatres are full!

Think about ways you can make this work fo

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

r your business. I’ve heard of tax accountants who offer a discount to people who bring their taxes in to be done before February 1. This gives the accountant some much needed cash aft

.

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

r slow season, and helps ease some of the crazy rush around tax time.

Open up your mind – see what other industries are doing to generate quick cash – DON’T just look at what’s been d

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

Companies that provide selfless information through particip

one in your industry before – try something new – become an innovator in your industry. When you do something different you’ll stand out – by being unique your business can really grow

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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Everybody wants to receive atta-boys from the boss, but they are harder and harder to come by as one climbs the career ladder. Winners in the world of work understand and deal with the reality of this paradox. They provide there own compliments for jobs well done.

The workforce is changing, and depending on what sector your business is in or what part of the country it is located in, you may be feeling the pinch of the growing labor shortage. Recent research from the Boston College Center on Aging and Work indicates what some companies are doing and that is: intensifying recruitment and reorganizing work flow so that they stay productive with fewer people. In these tougher labor times, organizations will also need to address poor work habits of their current employees to increase retention and to improve quality of service and productivity.

Department stores had the right idea when they started using in store credit cards as their customer reward program. They built a data base. Without knowing about their customers lives they wouldn’t know how to get that customer into the store. This is one of the places where the credit card perfect. In order to get a store credit card the customer must fill out an application.

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