Digg It - Business

How often do you sit around and wonder how to make more money and get more people to buy more from your company? It’s one of the most basic problems e

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

very company faces.

The answer is astonishingly simple. Too simple maybe. But I’ve seen it work over and over again with our customers in every line

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

Examples of combination products may in

of business you can imagine.

You have to promote. Your income is governed by the size of your customer base and how often and effectively you communi

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

cate with those customers.

So raising your income is simply a matter of keeping in touch with your existing customer base, reminding them you are the

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

re, offering them goods or services they might be interested in, in such a way that they want to buy more and more often from you. And increasing the

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

Combination pro

size of your customer base by finding and contacting potential customers and persuading them to buy your products or services and then adding them to

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

your customer base and keeping in touch with them in the same way.

If you have a good service or product and you make sure you service your customers

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

well, you cannot fail to raise your income.

How rapidly you raise your income depends on how rapidly you do these actions, how much you promote. Ha

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

ndling the quantity or volume of promotion is definitely the most obvious thing you can do on an immediate basis. Believe it or not, if you send out

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

crappy, crappy promotion, your income will go up. You may not be happy with the Return on your Investment (ROI) for that marketing effort, but defini

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

tely it will raise your income. Once quantity is handled and you are sending out loads of promotion, you want to tweak it and raise the quality of yo

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

Following aspects would a

ur promotion. And here are some things you can do.

Use Offers to Improve Your Response.

One of the barriers to buying which you work hard to overco

dd to the challenges in developing combination products:

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

me is "no hurry." Why buy it now when I can think about it for a few weeks, shop around a little and get back to you, maybe? Familiar with that "I’m

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

interested. I’ll get back to you." Or the card you have designed and mailed out gets put in a drawer somewhere for possible follow up, maybe next year

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

some time.

One way to deal with this is to reward those who buy now and penalize those who don’t. How? With some special offer and one that is attra

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

ctive and one which has a time element attached to it. "Order your new lawnmower now and we’ll give you a free edger. Offer good until the end of May.

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

Professional from academic institutions, pharmaceutical industries, health care indust

" (Or whatever, you get the idea). Obviously the offer must be financially feasible for you so you’ll have to do some number crunching before you make

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

the offer.

You can tie these special offers in to some particular event or season (like jewelry for Valentine’s Day or flowers or chocolates or just

.

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

about anything for Christmas) but you don’t have to.

Special Offers help you maximize on your direct mail marketing and keep your customers ordering

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

Companies that provide selfless information through particip

from you when you want them to. It’s just one more way to be in control of your promotion.

You can control how much and how fast your company grows

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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As an experienced manager, I can announce without a doubt that the primary reason for lack of effectiveness in the contemporary business world is that people don’t follow the rules for running a meeting. Thousands meetings are conducted each day and most of the meeting chairmen have not even heard of the rules for running a meeting...

Living in a world of ever more sophisticated technologies one can't help to notice some changes in the way people goes about everyday life. Today, everything in the entertainment world revolves around active content. The days of adverts being forced down on consumers is slowly but surly changing to viewers choice. Here is why.

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