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As the online retail industry continues to grow from strength to strength, more and more consumers are starting to purchase a wider range of goods and se

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

rvices online. Nevertheless, the risk of card fraud when paying for goods and services online is still a worry for both consumers and retailers alike. 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

fact, APACS, the UK payments association, released figures in March 2007 which showed that online banking fraud has increased from ?23.2 million in 2005

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 ?33.5 million in 2006 - even though total card fraud losses across the UK had dropped by three per cent.

There are significant measures being taken,

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

owever, to ensure that card fraud losses online are being minimised and those payments made over the internet are more secure. Visa, for example, have ju

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

Combination pro

t launched 'Verified by Visa', a unique service that, once activated, disallows any Visa card number from being used for online purchases without enterin

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

g a personal password that the cardholder will have set up at activation. This simple identity checking service holds a number of benefits.

To begin wit

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

, it will effectively improve the security of online transactions, while at the same time increase the confidence of both the consumer and the merchant i

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

online purchases. More specifically, Verified by Visa will also reduce the number of disputes and card fraud activity relating directly to Visa customer

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

s.

For online retailers or sites with e-commerce functionality, Verified by Visa is important as it now takes the risk out of internet purchases for bot

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

the merchant and the consumer. Retailers will be protected from the cost of fraudulent transactions and any related costs as the password-protected tech

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

Following aspects would a

ology implemented by Verified by Visa helps to establish whether a claim is being made fraudulently or not. As a result, retailers will no longer be liab

dd to the challenges in developing combination products:

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

le for chargebacks of this kind.

What's more, research conducted by Visa Europe in the UK, Germany and Spain shows that 84 per cent of people who curren

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

ly do not make online purchases would be more likely to do so with Verified by Visa. The research also showed that 71 per cent of consumers who already s

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

opped online claimed that they would do so more often as a result of the security offered by Verified by Visa. Therefore, the system is sure to help merc

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

hants achieve bigger online sales. In fact, research undertaken by European analysts Gartner Group show that the average Verified by Visa transaction is

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

Professional from academic institutions, pharmaceutical industries, health care indust

orth over ?138, while the average e-commerce transaction is only worth ?73.

From a consumer usability perspective, merchants will also find Verified by

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

isa an easy addition to implement into their site and consumers will not be hindered by the extra step to their normal online checkout process. So no mat

.

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

ter what sort of e-commerce site you run - from short breaks specialists to men's clothing or even

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

Companies that provide selfless information through particip

lowers - you'll definitely be able to integrate the 'Verified by Visa' system into your site's online payment procedure with as little hassle as possible

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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How to brand you business rather it's large or SMALL doesn't matter, for this the company should focus on the products names, values and images by using a cost-effective strategy that build and promote your brand in the marketing world and the customers have good perception about your company. Branding is not for Big corporate houses its for everyday even small businesses too.

We all want recognition and we’ve learned that one way to get it is through the power of the press. Whether a press release or a feature story, it is wise to consider what makes something newsworthy. What makes a good newsworthy story?

The name of the game is doing our part to achieve manage- ment’s objectives. And public relations best practice – properly applied – does just that. How?

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