Digg It - Business

Do you realize how many businesses out there are perfect companions to YOUR business? Scrapbookers are everywhere and usually in grou

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

ps in the same places. There are also lots of businesses who would benefit from a partnership with you as much as you would benefit f

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

Examples of combination products may in

om a partnership with them.

Cross-promoting products and services is an excellent marketing strategy. You basically combine forces w

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

ith another business in a different, yet complimentary, industry and reap the benefits.

You BOTH have customer lists, yet different

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

ists. Enlist the power of both sets of customers.

Here are some suggestions for cross-promotional activities. I would love to see a

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

Combination pro

discussion at ScrapBiz with some more ideas.

You+ the School Photographer: How many moms would love to have a prema

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 page to buy or a page kit with custom die-cuts of the school name or grade? Give the photographer a cut of your profits in exchange

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

for advertising your product.

You + the Parent Teacher Association (PTA). My local PTA put out a pamphlet at the b

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

ginning of the year with all the local businesses who offered discounts to Penny Creek Elementary PTA members. There wasn't a single

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

scrapbook business on that list! What if YOUR BIZ was there?! I don't even think you have to pay to be on the list because the list s

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

imulates membership for the PTA.

You + local camera or frame shop: In a recent edition of a scrapbook magazine, a c

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

Following aspects would a

nsultant described her partnership with a local frame shop. They allowed her to hold her workshops in their store with the hopes that

dd to the challenges in developing combination products:

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

they would sell frames. A camera store would also be an excellent choice-they could teach a mini class about digital photography and

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

offer their photo processing kiosk during your class.

You + Dance/Gymnastics studio or children's gym: Most of thes

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

e places have a "birthday room" or area with tables. How about a "Scrap and Play" day (mom's pay to come let their kids play and moms

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

scrap while the kids play) or a kit specializing in gymnastics or dance embellishments?

You + wedding planner/photographer:

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

Professional from academic institutions, pharmaceutical industries, health care indust

Offer a special package to new brides to make their books or give them a discount on custom invitations or bridal products

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

strong>You + the pumpkin patch or tree farm: Put together a kit about picking a pumpkin or Christmas tree. Most places have

.

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

a gift shop. Give a portion of the proceeds to the farm.

Once you start thinking, there are tons of ideas for partnering with anothe

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

Companies that provide selfless information through particip

business! Make sure it's a win-win situation to plan an event with another business, then sit back and watch your customer base grow

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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You know that cash is and always will be king. One of the biggest drains on small business cash flow is often out of control past due accounts receivable. I have seen business owners try to tackle the problem by cutting off any new credit and thus running themselves straight out of business. There is an easier way.

As a computer service company manager, you want to deliver praise in a way that will be perceived by employees as honest and inspiring. Delivering compliments in effective ways will help any computer service company grow and succeed.

Faulty information costs you money! Which of these popular business misconceptions do you believe?

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