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What’s in a name?

Think of your business name as an external mask for your business. If it’s something your target audience like, they would consider checking it, if they don’t, in most cases you have lost a customer even before you could tell them

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

what your product or service is. Your marketing campaign is usually like a beautiful outer covering for your business which attempts to portray it as the best business on earth for various reasons and the quality of your business name can have a grea

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

Examples of combination products may in

positive or negative impact on your marketing campaign. Many marketing campaigns are solely based on business names. Despite this many people, completely ignore spending time picking a good business name. This very often happens, when someone believ

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

s to have a winning business idea, and wants to kick it off as soon as possible.

Brainstorming for your name

Here are a few techniques which would help you brainstorm for ideal business names and come up with a wide variety of options to choose fro

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

.

Tools Needed:

Before you begin using the techniques below here are some tools you would need to make your brainstorming session successful

1. A Notepad and Pen

2. A thesaurus (online of offline) - Online ones save a lot of time

3. A computer w

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

Combination pro

th Internet access

4. A language conversion tool (Preferably online)

Process:

Before you begin your brainstorming process, remember that you are brainstorming for ideas and the goal is to generate as big a list as possible, therefore do not evalua

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

e or criticise any ideas, and keep the flow going.

1. Make a list of all suitable keywords you can think of, which relate to your business, or help describe your product or service.

2. Think of companies selling similar products or your competitors

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

and note down their names.

3. Use a Thesaurus to look for synonyms of all the words you have gathered. You should have a good list of words by now.

4. Use a language conversion tool such as the one at freetranslation.com and look for French, Spanis

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

, Italian, German, Latin, etc. meanings of your words. Some of those words can be very trendy and especially suitable for businesses targeting the youth market, or in the hotel & entertainment industry.

5. Make combinations of partial words. You can

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

even try combinations of English + Other Languages. Although these would be suitable only to certain creative business types.

Questions to help your Shortlist Your Selections

Now you have a huge list of potential business names. But you can have on

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

y one (unless you plan to open different companies for the same business), so its time to scale down and shorten your list. In this stage your aim should be to cut down your list to 10 names. Match each of your business names against this checklist a

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

Following aspects would a

d start weeding out the unsuitable ones.

• Is the name easy to remember and pronounce?

• Is it easy to spell?

• Will it appeal to your target audience?

• Does it tell you something about what your business does?

• What are the first thoughts tha

dd to the challenges in developing combination products:

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

you want your readers to have as soon as they hear your business name?

• Is it somewhat unique?

• Is it already in use?

• Is there something in it, which would want to make the listener know more about the concept behind the name?

• Is it a geog

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

aphical name? (This can affect expansion in future) • Is it broad enough, so that if you decide to expand your product line in the future, the name still represents them?

By now you should have eliminated many names, and shortened your list to 10

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

or less names, if you haven’t go down the list again and weed out some more names.

Field Testing your Business Name

Now that you have the top ten names, which in your opinion best represent your business. It’s time to find out what others think of

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

hem.

• Take the list to all your family members, relatives and friends and ask them to choose their top three

• Try to reach your target market in order to see which ones they like. If you are planning to open a gymnasium ask people who regularly v

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

Professional from academic institutions, pharmaceutical industries, health care indust

sit the gym.

• A great way to reach your target audience in masses and without any expenses can be online message boards and forums. These days there are online forums on virtually every subject.

Picking up the winner

Now you have factored in ever

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

one’s opinion and its decision time. The course of action from here on depends on the sort of results you had out of your list of ten. If you see a clear winner or people liking two particular words, you can safely pick one. If you see three or four

.

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

ords getting somewhat similar preference, make a list of top three, and field test them again, using the above steps. This should hopefully give you a winner, is you still find somewhat similar preference, you can do two things, start from scratch (I

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

Companies that provide selfless information through particip

wouldn’t) or go with your heart and pick the one you think is the best.

Remember: Name is the first step of the Game, and while choosing one you don’t want to be lame.

© Ashish Monga

................................................................

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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