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Digg It - Trade Show Events - Do's and Don'ts
You can love it or you can hate it but there is no escaping trade shows in a business environment. If you happen to be in the Sales and Marketing division in an industry where trade sho 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 ws are a part of the marketing plan, it is more than likely than not that you will be involved in them sooner or later. Trade shows have been an excellent forum for generating awarenes ; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug. Examples of combination products may in s of the products and services of a company as well as generating leads in the short run. If you are an entrepreneur or a sales professional entrusted with the task of participating in lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together. a trade show, you should consider two major points while choosing the perfect trade show booth: Location and neighbourhood. The perfect mix of these two criteria is likely to get you th 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 maximum bang for your buck. • Location is everything. Try and get in early in the tradeshows which features regularly in your company’s calendar to get good exhibit spots. Corner boo d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations. Combination pro ths with two sides open are the ones which are snapped up the fastest. Location is probably the most critical aspect to consider in a trade show and it is really a no-brainer when you 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 recall all the trade shows which you have been to as a visitor and have skipped most of the booths placed at the end of aisle. Some of the don’ts while choosing the location are: • Do 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 n’t choose the booth next to food outlets or conference hall entrances as none of the people heading in these two directions are usually interested in the booths. They are most likely m nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically aking a bee-line to the food court to beat the lunch crowd or are running late for a conference. It is a sad sight to see visitors rush past your stall headed • Don’t pick the booth ne 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 ar equipment areas or loading bays even if you are getting a two-sided open booth. Need I elaborate this? Audio equipment put near your booth is likely to drown your voice most of the t ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi imes and nearness to loading bays will result in mostly seeing men in overalls rather than ‘real’ tradeshow visitors. • Consider thy neighbour. Well this logic can work both ways, if y ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it. Following aspects would a ou are next to a large multi-tier display, then you can attract considerable footfall during the trade show. On the other hand, if you have a reasonably small booth next to a large disp dd to the challenges in developing combination products: Which markets to tap where the combination products can do fairly well? Which combination prod lay space, then you might get completely dwarfed. Let’s take another scenario. If you choose to be part of a section of similar style booths, the visitors are likely to pace their spee cts are meaningful and rational? Which therapeutic categories to select? Which Combinations can address unmet needs of the patients? Do combin d down the aisle in a manner which would be allow them to spend some time to see all booths and they are not likely to be in a hurry to get to a larger display. You need to decide this tions increase the patient compliance? What would be the developing cost? How to tackle the risks encountered during combination product developmen on a bit of gut instinct. Who your neighbour is also might influence your decision. Some of the don’ts while checking out the neighbours are: • Don’t choose the booth next to your co 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 mpetitor. The result is going to be a waste of time is trying to check out what is happening in their booth and agonizing about each and every visitor who stops by. • Don’t choose an u ping new procedures for reviewing their safety, efficacy and quality. Professional from academic institutions, pharmaceutical industries, health care indust nrelated industry segment display. If you are dealing in networking, it might not be a great idea to choose a stand in an e-commerce space. Personally I tend to hang around the centre y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products of the trade show where most of the action is. Thus the aim should be getting to the section where we can see most number of displays and decide what interests us most. One of the best . 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 inputs to choose the tradeshow booth location and not listed above is previous experience. A number of trade shows have their peculiarities which might only be realized by previous part elopment. They need to be wiser in analyzing the market trends and the regulatory requirements. Companies that provide selfless information through particip icipants so it is suggested that you speak to colleagues who have attended the show before you. I hope that the above suggestions help you find the perfect booth in the next trade show! 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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