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In the financial markets the key to building a successful investment portfolio is through diversif

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

ication. This means that a diversified portfolio includes stocks, bonds, mutual funds and other in

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

Examples of combination products may in

vestment vehicles. This type of "diversified approach" in the financial markets can also be applie

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

to your prospecting efforts. This means that you need to diversify your prospecting efforts beyon

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

d cold calling. Other lead generation opportunities include:

*Customer referrals

*Prospects that

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

Combination pro

you meet at networking events.

*Incoming leads that you receive through advertising mediums such

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

the internet, television, radio, magazine, newspaper, yellow pages and direct mail.

*Increase you

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

exposure by submitting articles to industry publications.

*Increase your exposure by submitting

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

press releases about your company (check out www.prweb.com).

*Participate in industry message boa

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

ds and blogs.

*Send targeted emails to prospects (make sure you follow the CAN SPAM ACT).

*Exhib

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

it at local tradeshows and chamber events

These eight examples are excellent ways to increase you

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

Following aspects would a

r income beyond making just cold calls. But, what would happen if you decide to ignore these eight

dd to the challenges in developing combination products:

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

lead generation opportunities? What would happen if you focus 100% of your lead generation efforts

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

on cold calling? I believe that by choosing this course of action you will become frustrated and

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

your frustration will lead to depression.

How do I know this to be true? I know this to be true b

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

ecause at one point in my cold calling career I had focused 100% of my time on cold calling to gen

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

Professional from academic institutions, pharmaceutical industries, health care indust

rate new business. In fact, there was a time when I made close to 400 to 500 calls a week for many

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

years. That’s about 80 to 100 calls a day! As a result of my lack of lead generation diversificat

.

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

on, my frustrations with cold calling lead to a temporary period of severe depression. What's my a

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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Linear change - think, plan, do - works for job changers but sucks for career changers. Find out why and get a three step iterative process to create the career you dream of.

Benefits driven headline with specificity, rather than generalities, can often be some of your most powerful headlines drawing your readers into your sales copy.

Dr. Gary S. Goodman, President of Customersatisfaction.com, popular speaker, and service and sales coach, thanks you for reading his articles. But please don't so it when it's time to sell, because those hours are precious and few, according to this radio and TV expert commentator.

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