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Owning a small business isn’t easy, especially if you are running it alone. Between moving products, taking orders, paying bills, and taking care of family, it is easy to lose track of everything you need to do. Using a calendar t

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

emplate to organize and manage your marketing strategy will ensure you don’t drop the ball with one of the most important parts of your business.

Developing a Marketing Strategy

First, research and identify who your targe

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

Examples of combination products may in

t clientele is, and what characteristics they share that make them valuable to you. If you have developed software that organizes and manages an online calendar, you probably will not want to target 14-year-old skateboarders. But

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

it is not enough just to identify an age category or an activity your target market shares – you need to consider socio-economic status, buying habits, and potential for up-selling. I may be in Porsche’s target age group, but I am

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

definitely not in their target tax bracket!

Second, after identifying who you will be targeting, research and explore venues for your advertising message. The demographics of your desired customers will play a key role in decidi

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

Combination pro

ng which venues to pursue, so don’t forget about them. Examples of marketing venues available to you include newspaper ads, bus stop banners, sports team sponsorships, online marketing (including pay-per-click campaigns and search

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

engine optimization), local television spots, and, if you’re feeling extra ambitious, the Super Bowl.

Finally, after identifying your desired customers and selecting which marketing venues you will pursue, create a marketing cal

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

endar. Calendar templates are available online for download and use. A calendar template typically divides time into weeks, providing a space each week to record what event or marketing method you are focusing on; how much money h

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

as been and will be spent on the activity; deadlines, contacts, and important notes; and what the results of the marketing ploy were. Once you have these three facets in place, you are ready to invest some real money into promotin

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

g your company.

Implementing a Marketing Campaign

With your marketing calendar template in hand and wallet in pocket, you are ready to invest in the marketing campaign you have designed. The nice thing about using a marke

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

ing calendar is that it takes what could be the impossible task of keeping track of and following up on all your marketing endeavors, and it breaks it up into one week chunks. This feature allows you to focus on each marketing act

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

Following aspects would a

ivity and the results it produces.

The prospect of launching an online marketing campaign, billboard and bus stop banners, and newspaper advertisements all at the same time is formidable at best and impossible at worst! Unless yo

dd to the challenges in developing combination products:

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

u absolutely cannot afford to wait one more week to launch them all, try phasing them in one at a time. The marketing calendar template will help you keep track of what is going on, and where you need to turn your attention next.

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

Evaluating Your Campaign

During and after every marketing endeavor you perform each week, fill out the important spaces on your calendar template. When you receive the results of that specific campaign (i.e. more visitors

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

to your site or more customers purchasing the advertised product, etc.), compare it to other advertisement venues or practices you have tried. Was it more or less successful? Did it produce the desired result? What was your retur

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

n on investment for this particular campaign? Did it improve your bottom line? Without keeping careful track of each activity and its results it would be difficult to answer these questions. And if you can’t answer these questions

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

Professional from academic institutions, pharmaceutical industries, health care indust

you’ll never know if you’re throwing money away each month, or under-investing in advertising that could be giving you a huge ROI.

In addition to constantly evaluating the specific advertisements and marketing campaigns you run,

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

it will be helpful to systematically reevaluate your target audience. As your business grows and develops throughout the years, the products you sell or the services you provide may evolve from one demographic to another. Never g

.

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

et too comfortable with your marketing strategy – be alert of changes in technology and techniques that can benefit you and your company and take advantage of those resources.

Launching a successful marketing campaign for your sm

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

Companies that provide selfless information through particip

all and home business can be difficult, but it is not impossible. Properly creating, implementing, and evaluating your marketing strategy may be the last three steps you need to take to move into Porsche’s target demographic.

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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Most people find financial statements identical to a foreign language. To ensure that financial statements are easier to understand, there is a set of rules and practices known as the generally accepted accounting principles (GAAP). Development of these rules provides a basic guideline accounting because I think it’s fair to say that it can get obtuse at times.

Hope is one of the most powerful sources of energy ever known to humankind. Highly energized cultures are charged with hopefulness and optimism. It's the dynamic power that mobilizes individuals and teams to make the improbable possible. It's the mark of a leader.

Rookie mistakes. We are all guilty of them. Whether it's letting a client slide without a contract, entering a long-term agreement with a vendor we soon come to loathe, underpricing our products or services, or allowing someone to get too far behind on their invoice before we cut off the faucet...each mistake hurts. If we are lucky it only hurts our pride, but quite often we get burned - that is, we take a hit in the pocketbook, too. Something most small business owners cannot afford. The important thing is - what will you do now?

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