Digg It - Internet and Businesses Online

This is the most important first step and requires thorough research. Once you have identified your market you will have a basis for choosing a domain name and a focus for your website.

First put tog

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

ether a list of your interests: hobbies, sports, what books you read. What talents and abilities do you have? What types of jobs have you worked at? What do people come to you for advice about? What w

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

Examples of combination products may in

uld you like to learn more about? Make a point of noticing what people are interested in? Look at what is selling on e-Bay and what the magazine articles are about. Keep this list handy and add to it

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

henever another topic or market idea comes to you.

Now take your list and research the market for each of these topics. You want to know:

• Is this a large market?

• Are people purchasing products

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

n this market?

• Is there competition which indicates there is money to be made?

• Are there up-scale products to promote as back-end offers?

• Are the members of this market passionate about their

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

Combination pro

interest?

First you want to know if there is enough interest out there among the internet surfers about this market. Go to:

1.Overture (now Yahoo Search Marketing)

http://inventory-overture.com/d/s

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

archinventory/suggestion/

Type in your proposed market’s keyword or keyword phrase; the one you think people are typing in to search for information. Overture will then tell you how many searches wer

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

done in a month for that particular keyword. It will also list related keywords and give the number of searches for each of those.

You will want to have at least 10,000 searches shown for your main

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

eyword and have several related keywords with high numbers. Another program to use is Wordtracker.

This information will enable you to pick several market areas to proceed with further research. Now

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

ou need to know the top prices that are being bid by advertisers for these keywords. Go to:

2. Overture’s Bid Tool

http://uv.bidtool.overture/d/search/tools/bidtool

Unfortunately Overture is curren

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

ly going through an overhaul and is not always available. Hopefully the new software will be an improvement. Another tool is Google’s keyword tool:

http://adwords.google.com/select/KeywordToolExterna

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

Following aspects would a

While this does not give you the degree of information that Overture’s bid tool does, it does give an indication of the amount advertisers are spending on the various keywords. It can also gives you

dd to the challenges in developing combination products:

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

an indication of the volume of searches performed but only in a graph format. No real numbers.

Now go to Google and type in your main keyword phrase. A three word phrase is more specific. At the top

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

f the page Google gives the number of pages that pertain to this keyword phrase. On the right-hand side of the page you will see ads that businesses have paid for through the adwords program. This is

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

our competition. Check out your competition’s ads, their product, their sales page, the price and the page rank. For the page rank you need a Google toolbar which is free and easy to download. Just go

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

to Google.com and ask for it.

On the left-hand side of the page, the information and internet addresses that come up are called the organic returns. Those businesses do not pay to be placed there. Go

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

Professional from academic institutions, pharmaceutical industries, health care indust

gle has chosen them by its criteria, the main one being relevancy to the words typed in by the searcher. These are your strong competitors. If their page rank is 5 they have their webpage well optimiz

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

d for the search engine. On their webpage you can check their list of keywords by clicking on “view” and then “source”. This brings up the html code of their page and under the meta names you can usua

.

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

ly see “keywords”.

This market research is vitally important and does take time. Much of this research can be done quickly with the Keyword Elite software program. With this program you can quickly i

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

Companies that provide selfless information through particip

entify markets that look to be profitable and eliminate those that do not seem to have much interest. By doing your research you minimize the risk of spending time and money on a non-profitable market

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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