Digg It - Internet and Businesses Online

I think Ebay is a great site that makes market dynamics transparent, but as for sustaining a business model, it leaves a lot to be desired.

Let me explain why.

Because Ebay is simple to use and very accessible to millions of amateurs, 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

any people think developing an Ebay business is the logical place to start. So they start off by selling the household items that have collected in their basements and garages. The stuff sells and all of a sudden, these people think they

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

Examples of combination products may in

re business geniuses. "I made MONEY on EBAY!!!"

The next thing they do is try to find other things to sell on Ebay. They know they must buy at wholesale prices, so they go to their computer and Google “wholesale suppliers” or some simila

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

search.

Now they’re officially “in the game”. By the time this game is over however, they will most likely have lost hundreds if not thousands of dollars and will have pretty much given up on starting their own business.

There are two

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

ain reasons that make Ebay one of the most difficult mediums in which to succeed.

1. Competition. Ebay is the one of the largest websites in the world. It attracts millions upon millions of buyers and sellers. Because it’s such a huge ma

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

Combination pro

ketplace, and you are listing your goods right next to your competition (who sells the exact same item), the buyers do not see much more than price. “Who has the lowest price and a feedback score that looks pretty good? That’s who I’ll bu

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

from!”

Ebay is extremely price driven. And even if you think you have a great source for your product, there are others that will be selling below cost (ie. losing money) due to overstock situations or selling an item as a loss leader.

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

2. Fraud. What may one day be their downfall, fraud is extremely prevalent on Ebay. Both on the buyer side and seller side, scammers love to use Ebay. It’s anonymous, fast, and there are plenty of potential victims. If you sell on Ebay f

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

r any amount of time, you will be contacted in some way by a scammer looking to rip you off. No other business has to deal with fraud on this level.

So even though I sound all doom-and-gloom, you can succeed on Ebay. You just ne

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

d to use it in the right way.

You will be that much further along when you accept that Ebay now belongs to the very big seller with very deep pockets. Many of these sellers typically have retail brick and mortar stores to accompany their

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

online efforts. So selling general-type merchandise like cameras, dvd players, clothing, jewelry, etc., is usually a losing proposition.

To succeed, you must be one of two things on Ebay:

1. A niche player.

Or,

2.

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

Following aspects would a

ong>A manufacturer.

Niche player - What I mean here is that you need to focus in on a very select group of consumers.

The first thing you need to do is determine what it is that interests you. Take stock of you

dd to the challenges in developing combination products:

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

hobbies and build your business around them. Why? Because that is what you know. It is what you have a passion for. And because it will keep you interested in your business when the novelty of a new business wears off.

An example of a n

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

che market might be: Gothic style shoes and boots for women. (This is not my interest or hobby, by the way).

Once you have figured out your niche, determine how you will solve a problem they might have.

In our example, these ty

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

pes of shoes and boots are not readily accessible at the local mall. So you will provide them on Ebay!! There will still be competition, but it will be far less competition than for other types of merchandise.

As you start selling and ga

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

n more of an understanding of your niche, you will focus even more. Maybe you will stop selling Gothic shoes and concentrate solely on black patent-leather Goth boots. Eventually, you can dominate a niche like this.

Manufacturer<

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

Professional from academic institutions, pharmaceutical industries, health care indust

strong> - I don’t mean to say that you need to go out and buy a widget making factory. What I mean is that you need to create a product that is unique. Some examples of this type of product would be tie-dyed t-shirts, or personalized chil

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

ren’s coloring books, or some sort of designer dog collar, or you write an e-book or software program.

You get the idea.

Whatever it is, it has to be unique and you have to solve problems. I successfully sold new mobile phones

.

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

n Ebay for years. But I have given up that business because there are literally hundreds of competitors driving down the price. People can go into many retail stores or shop online and buy an unlocked mobile phone these days. So what prob

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

Companies that provide selfless information through particip

em was I solving? There are a hundred sellers on Ebay selling Motorola mobile phones now. Do you want to be seller #101? Where is the profit in that?

Think niche instead of mass and you will be light years ahead of most new entrepreneurs

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 - Ebay - Can You Succeed

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