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What boosts direct mail response rates better than a premium? Half a premium.

That’s what Canadian catalo

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

g printer Transcontinental has learned during the past two years. Transcontinental wanted to generate sales le

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

Examples of combination products may in

ds among catalog companies across North America. So, in 2005, the company mailed one walkie-talkie to vice presi

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

ents of marketing at business-to-business and business-to-consumer catalog companies. Prospects were invited t

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

receive the other walkie-talkie free of charge in exchange for taking an online survey. The campaign generate

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

Combination pro

d a 50 percent response rate.

This year, Transcontinental did even better. They generated a whopping 74 p

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

rcent response rate by mailing a high-end metallic lockbox to prospects in the same target audience. The lockbox

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

had a combination lock, which was locked. A luggage tag invited prospects to answer a brief online survey so t

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

at they could get the combination.

Those who completed the survey and received the lock combination disco

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

vered that the lockbox contained a USB pen drive (the bottom half is an ink pen while the top half contains a US

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

data storage drive).

How much more successful is half a premium than a full premium (or no premium at

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

Following aspects would a

ll)? Well, Transcontinental tried mailing just a survey in an envelope but drew a paltry one percent response.

dd to the challenges in developing combination products:

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

br>

Transcontinental's two premiums generated spectacular response rates for a number of reasons:

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

They are attractive and have high perceived value
They are different from most premiums (mouse

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

pad, anyone?)

They arouse curiosity because they are incomplete

They motivate prospects to r

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

spond
Other companies have enjoyed similar results. One mailed a remote-control dinosaur without

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

Professional from academic institutions, pharmaceutical industries, health care indust

he remote. Prospects would receive the remote in exchange for a sales meeting. Another business discovered the

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

shoe size of its prospects and mailed one shoe in that size. Prospects were invited to receive the other shoe d

.

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

ring a face-to-face meeting with a salesperson.

Will this tactic work for your business? Maybe. Remembe

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

Companies that provide selfless information through particip

, mailing half a premium makes sense only when your list is small and the price of your product or service isn't

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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“Recruitment at management consultancies is highly buoyant but the competition for these positions is still intense - according to one survey there are over two hundred applicants for every role in strategy consulting! The vast majority of these will be screened out at the C.V. stage and go no further – but if you do get through to the interview stage the following advice may prove highly valuable. “

For a company to create and continuously advance their own business upturn, they will need to amass the full knowledge, talent, experience and capabilities of their organization and in certain cases introduce some outside influences.

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