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It takes money to make money is an adage we hear everyday in the business world. So, when it comes to getting promotional items, you’ve got to budget for it. Or do you?

Ther

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

e are several ways you can save money on your promotional item order. If you are planning to kick off a campaign, create an item to woo existing customers or create an excitin

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

Examples of combination products may in

event giveaway there may just be a way to pinch a penny or two.

PUT OUT FOR BID

You may have a company that you’ve always dealt with and if that is the case, you may want to

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

stick with them. However, if you aren’t privy to a certain promotional company, then perhaps you will want to put out your order for a bid, and take the lowest price or best d

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

al. If companies know they are being pitted against one another, they may give you a discount or throw in extras for free. This method can help you save money as otherwise, y

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

Combination pro

u’d juts be paying standard catalog rates.

BUY IN BULK

You may or may not have the budget to do this, but the more items you buy, usually the lesser the cost per item. If yo

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

are the type of person to buy a little at a time, in the long run you will be essentially be spending more money. So, look at the rates for higher volume and see how you can

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

save.

SPONSORSHIP

This does not work for all types of companies or items, but in the non-profit, education and media sectors, this idea can work great. For event marketing,

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

ften times t-shirts are big giveaways. But, t-shirts are also a little bit more costly than an ink pen. So, if you can sell sponsorship on the back of a t-shirt, you can have

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

those shirts paid for while still advertising your event. In addition to selling sponsorship to outside companies, many times the promotional company themselves will kick in p

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

rt of the money if their logo or name can be on the shirts or other item. Radio stations are known to do this. Aside from items for specific events, you sometimes see this pr

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

Following aspects would a

ctice done on uniforms, such as little league teams or community sport teams. So, if you have an event coming up or just are planning to create some promotional items, it won’

dd to the challenges in developing combination products:

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

hurt to ask clients or neighboring businesses to help underwrite the costs- after all, the promo item also will promote them.

DO IT YOURSELF

Another great way to cut down on

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

the cost of promotional items is to do it yourself. Many times when placing an order, you will have to pay a set-up fee for the printing (usually a one-time fee), then pay for

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

the actual printing and of course the items. But perhaps you can do part of this yourself. If you are working with a local printer, you could possibly provide the items your

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

elf to be printed. For example, if you see a great close-out deal on t-shirts or plain coffee mugs at one of those warehouse stores, you could get a great bargain- much cheape

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

Professional from academic institutions, pharmaceutical industries, health care indust

than buying them from the printer. So, you will only have to pay the printer for the cost of printing and not for the items.

BE LOYAL

One of the ideas we listed above was t

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

put promotional companies against one another to drive down your cost. However, staying with the same company can also save you money. Many times there is a one-time set-up

.

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

ost, especially with making screens for t-shirts. If you keep changing companies, that fee will always be added. As long as your logo stays the same, you will never have to p

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

Companies that provide selfless information through particip

y that fee again at the same company, which could have you hundreds. In addition, many companies will throw their loyal customers a bone every now and then. Keep that in mind

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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