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STOCK LOTS OF T-SHIRTS:

It was about 11 0’ clock in the morning. I was attending to my routine work of garment designing in my workshop. There comes a teleph

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

one call from Vijay. He is a young garment retailer selling mostly ‘T’ shirts, night pants and Bermudas. He used to buy stock lots of these items from exporters.

The

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

Examples of combination products may in

international traders when they produce in bulk go for excess production to meet any eventualities. Thus after the selection and inspection of goods for export, the s

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

rplus stocks and the rejects will be sold in the local market to retail merchants like Vijay.

RETAILER T- SHIRT SHOP KEEPER:

Vijay has once attended my semi

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

ar on “Business Strategy for Success” and now wants my help. He said that he has got a stock of about 4000 numbers of T-shirts. He has taken a temporary shop in the d

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

Combination pro

own line of the 10th street on the busy cross cut road of Coimbatore city. The shop is going to be only for 5 days just before the festival of lights.

SELL THEM I

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

SHORT TIME:

He wants to sell the stocks to a maximum extent in these festive days. He requested me to design a simple strategy to boost the sales in a short ti

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

e.

I was going there by about 4 o’ clock and studied the situation. The shop was on the main sub street, having good people’s traffic. The display of T-shirts was al

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

o nice. Only thing I wanted is that the passerby should be made to turn and see the shop.

CATCH WORD-WATCH WORD:

I asked for a piece of white paper. I sugge

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

sted a suitable phrase that will make the people to watch and tempt them to move towards the shop. When the potential customers come in, the duty of the salesman has

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

o sell the goods through some scientific proven method. I know that it will happen once the people are drawn inside the shop.

BANNER DISPLY:

I asked Vijay t

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

Following aspects would a

make a banner with these words and in straight bold letters with red background. The banner was eye catching and displayed in front of the shop prominently.

I was o

dd to the challenges in developing combination products:

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

serving the shop for all the consecutive days. Day by day and hour to hour, the shop gathered momentum and the sale was picking up steadily. I made a quick survey als

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

o with the customers who entered the shop. I could under stand that the color, words and size of letters in the banner had their role in pulling the people!

<

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

>PEOPLE WERE DRAWN:

Needless to say the strategy worked very well and the sale was very good and the event was happy till all the stocks are sold.

What was

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

he catch Phrase that attracted the passerby?

In this festival of lights
“ALL AT YOUR PRICE!”

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

Professional from academic institutions, pharmaceutical industries, health care indust
>

The people entered into the shop just to know what “our price” is! The salesman has to convince the price quoted is so low that it is everybody’s easy to
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
buy price. Everything happened as desired. It was a good strategy that led to success to the young entrepreneur!

NEXT CALLER IS READY:

After a couple of da
.

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
s, I received a call from “Rasi Furnishings”, a shop owned by a friend of Vijay. He said it was a great success for his friend, Vijay. Now, he wants to make use of a
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip
pecial strategy for the total growth of his home furnishing business.

Let us understand the people and make the people understand our offer!

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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Digg It - Catch The Eyes! Make The Sale! Business Strategy For Success In Selling T-Shirts!

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