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It costs the average business five times more to attract a new customer than to keep an existing one satisfied. A good Leverage M

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

arketing strategy includes techniques to motivate your customers to purchase from you repeatedly. Turning one-time customers into

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

Examples of combination products may in

repeat customers is essential for transforming a surviving small business into a thriving small business.

What if you could emp

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

loy a tactic to address this issue? With a little creative thinking it is possible to implement a cost-effective tactic that:

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

turns one-time customers into repeat customers.

provides an inexpensive vehicle for product promotion.

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

Combination pro

i>adds a valuable tool to a new product marketing plan.

motivates customers to tell their friends and family about your

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

company.

and helps grow your business with as little time, effort, and expense as possible.

Achieving suc

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

cess as an entrepreneur requires thinking outside the box. Resources are often limited and the competition is often better armed

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

than you are. It takes creativity, aggressiveness, and sound strategies to overcome these disadvantages. Making the most of the c

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

ustomers you already have is vital to your success.

Imagine if you could focus your efforts on cultivating the relationship you

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

have with current customers instead of constantly trying to attract new ones. You would talk to your customers, learn their likes

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

Following aspects would a

and dislikes, and better understand the problems they struggle to overcome.

By spending more time working with current customer

dd to the challenges in developing combination products:

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

s you can become a trusted partner, someone who they turn to in times of need. Because of this you will have a better understandi

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

ng of the dynamic motivations your customers have. You will be able to respond quickly to an ever-changing market. You will out-m

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

aneuver your competition by responding quicker.

This relationship is not something that you have to imagine. You can get to the

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

point where your business will sustain itself and grow because of your current customers. It’s easier than you think.

Of course

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

Professional from academic institutions, pharmaceutical industries, health care indust

you will always need to attract new customers – that goes without saying. However some of that hard work can be done by your curr

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

ent customers. Through word-of-mouth marketing and formal referral programs your customers can lend a very powerful hand in attra

.

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

cting new buyers.

And as was mentioned previously, it is possible to motivate customers to purchase from you repeatedly. What a

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

Companies that provide selfless information through particip

great way to generate more revenue and drive profits. Turn one-time customers into repeat customers and watch your business soar.

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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