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One of the most rewarding, inexpensive, under-used, and effective methods of marketing is to tie in your marketing efforts with the efforts of others.

The cost of acquiri

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

ng a new client or customer is enormous. The average business will spend thousands of dollars in marketing, sales, and advertising to build goodwill and develop loyal clie

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

Examples of combination products may in

nts or customers. Most businesses spend their marketing dollars to reach a large audience, and yet they're only going to get a small fraction of this audience.

By tying i

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

n with other businesses you can eliminate a lot of expense, time, and inefficiency in prospecting, and spend the majority of your valuable time and money on people who are

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

ready to buy.

You can do this by developing a tie-in relationship with another business that has already spent the time, effort, and marketing to attract the same custome

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

Combination pro

rs who you would like to have.

This type of relationship is beneficial for both your business and the business you are tying in with. It works like this, company A either

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

controls, owns, or has developed client lists that company B wants to utilize to buy its products or services.

To create a tie-in relationship with another indvidual or

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

ompany you need to identify all similar businesses, professionals, organizations, and even competitors who are in a position to control (or enjoy a favorable relationship

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

with) viable prospects for your product or service.

Naturally this works best if both your businesses are in some way complimentary. But this is not necessary. The most i

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

mportant thing is for each of you to help cut marketing costs for the other while at the same time increasing your marketing.

The best way to do this is to approach each

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

argeted business to allow you to act as the beneficiary and solicit the host's customers in return for a share of the resulting profits. Once this is done, there are three

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

Following aspects would a

things you should do to maximize the profit for you and the host:

* Get the owner of the host company to write a letter of endrosement recommending your business and spe

dd to the challenges in developing combination products:

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

cific product or service to their customers. In return, the host receives a generous share of the profits from the deal.

* Get the host company to continually promote all

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

your products or services to their customers even after the host has sold all the products or services they can.

* Get the host company to let you offer their products o

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

services to your customers on a profit-sharing basis.

You will discover a whole world of tie-in possibilities by simply walking the commercial business streets in your c

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

ommunity. You'll find many other tie-in possibilities by looking on the internet, in the Yellow Pages, the local newspapers, or by watching television.

As you might expe

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

Professional from academic institutions, pharmaceutical industries, health care indust

ct, the deeper the tie-ins, the greater the greater chance there is for profit. Having someone put a pile of your brochures on their counter or putting an affiliate banner

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

on their Web site is one thing. But having them actually recommend your business is much stronger.

Every one ends up gaining in a tie-in relationship: the customer learns

.

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

of a new place to buy whatever you sell, you gain, and the host business gains. Most importantly is that all this gain takes place at a much reduced marketing cost for bo

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

Companies that provide selfless information through particip

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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