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Doing a current customer breakdown can help you find the goldmine within your business by determining who you should be targeting in your marketing efforts in the future. The

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

re is a goldmine right there and you may or may not see it…it’s your customer base! But is it all of them? No – definitely not. Then what the heck am I talking about?

You

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

Examples of combination products may in

robably already have some great customers, probably not as many as you would like though. So how do you go about finding more of the kind of customers that make opening your

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

oors worthwhile every day? The first step is to find out everything you can about the customers that you do have. Here’s how to start:

1. Get Accurate Sales Numbers - How 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

you determine what a "good customer" is? More than likely it is a loyal customer who keeps coming back to spend money with your business. This is why the first step you tak

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

Combination pro

should be to determine how many sales each customer has and what total income each customer has provided you.

2. Decide What You Consider "Good" - Is your product or service

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

a one shot deal? Or can your customers come back again and again? If they can come back, you'll want to find out their average order or purchase size in a dollar amount and

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

lso how many times they've purchased... You'll see that they'll fall into categories. Maybe 10% are big spenders but 30% purchase consistently. Obviously this will vary depen

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

ing on what type of business you have. If you sell a product or service where it is unlikely your customer will need you again, figure out what range of purchase size makes

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

p most of your income.

It really varies from business to business. For instance, if you're a Realtor you may sell many more homes between 100 and 200 thousand, but most of yo

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

r actual income came from one giant purchase... Maybe a 2 million dollar home... You don't want to ignore your bread and butter. In this case, I would recommend marketing to

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

Following aspects would a

he “bread and butter” public. So you see, you really need to evaluate your industry.

3. Once you've determined which are the best customers (the kind you’d like all the othe

dd to the challenges in developing combination products:

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

s to emulate) and have gotten all information concerning their purchasing habits with you: Find out how they found you, where they live, what they do for a living and even wh

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

t their level of income is (if it can be tactfully worked into the conversation). It’s good to get this information when the customers are making their purchase because they

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

ill be more likely to give it to you. If you keep customer phone numbers you could even do a short survey by phone to find out most of this info.

4. Look for Patterns - When

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

you gather all of the information you may notice that 35% of your best customers are doctors, or 50% of them come from one area of the city. Whatever the pattern is that you

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

Professional from academic institutions, pharmaceutical industries, health care indust

notice, take advantage of it. Do specific mailings to a list that fits the same description as your best customers and you will attract more of them. A list company can find

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

you a list that best fits so that you are mailing to those companies or individuals that are most likely to purchase.

Follow these steps and you will be able to increase you

.

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

eturn On Investment (ROI) from all of your marketing programs. And remember, Return On Investment is how much income you are generating from the leads you get in from your di

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

Companies that provide selfless information through particip

ect mail marketing campaign.

Marketing your business will help it grow, marketing your business to the right people can get your business booming. So, tap into your goldmine

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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Word of mouth advertising creates an awareness campaign where your business information travels from person to person, creating a world wind of awareness. For a new business start-up, word of mouth marketing is often the best and most effective advertising method.

According to industry sources: Buying a franchise is safer and more profitable than starting a new business venture, as the products and services of the franchisor are already established in the market.

The pop-up style expandable frame display has now been in existence for over 15 years. It is the most common portable display now on the market. The first were made of a flexible fiberglass frame, with aluminum channels bars and roll able fabric that was attached to the framework with magnets. The basic design has not changed over the years, but the options this technology offers has. The frame expands to a large size, allowing a full 10' wide exhibit to be transported in a relatively small case.

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