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Digg It - 10 Resourceful Ways to Recycle Digital or Small-ticket Products
Have your product sales slowed down?
Do you want to give a new lease of life to one of your digital or small-ticket products?
At home, I've earned the title of 'Queen of the left
At home, I've earned the title of 'Queen of the left
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
-overs'. Did you know that left-over spaghetti sauce can be recycled? Add a bit of cumin and chilli, it becomes taco sauce; mixed with a bit of white sauce, you have a lasagna sauce
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
; add a few vegies, wrap the lot in puff pastry and you get a pastie, etc.
Using the same principles, you can recycle a product and market it using a different mix: change your pro
Using the same principles, you can recycle a product and market it using a different mix: change your pro
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
motion, sell it elsewhere, use it to barter, bundle it with another product, etc.
Start recycling a product using one of the following strategies:
Start recycling a product using one of the following strategies:
- Auction your produ
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
ct on eBay or another auction site. How much are customers prepared to pay for your product? Use this strategy to research your market and to experiment with a new selling outle
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
. Who knows, people in their bidding frenzy may pay more than you ever imagined!
Reposition your product. Review your promotional and pricing strategies and give your pr
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
oduct a new image. Change your sales letter (including words and graphics), add testimonials, increase or lower the price, etc. Now sell your 'new' product.
Offer your produ
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
ct as a bonus with the purchase of another product. Sell the bundle as 'this month's special', 'buy one get one free' or 'value pack'. The bonus should boost your sales especial
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
ly if you point out the dollar value of the bonus e.g. 'valued at...' and add a sense of urgency 'limite/d time offer till (date)'.
Give to get. Ask visitors on your web
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
site to complete a survey and reward their effort with a gift, your product. Provided your product is relevant to the type of information you are seeking, this should yield a list o
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
qualified leads and supply you with new ideas to create products and boost your business.
Sell your product as a promotional item. This is a strategy I have used very s
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
uccessfully. I've bundled signed copies of my book from my first printing batch into packs of ten. Businesses bought them at volume discount price and gave them as gifts to their lo
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
yal customers.
Increase your database by giving away your product for free as an incentive to join your mailing list. Your offer can be advertised for free on the online
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
free stuff sites. When visitors are picking up their freebies, capture their email addresses and you will gain a valuable mailing list. (Note: this database building strategy will
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
only work with digital products or else you will be out of pocket if you have to pay shipping costs.)
Swap your product for things you need for your own business e.g. ex
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
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
hange your ebook for a software or another ebook. Your savings will make up for your profit loss. At a conference, I swapped my book for books from my colleagues.
Organise a
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
n online contest and offer your product as the winning prize. This a cheap price to pay for free advertising for your product through online contest directories.
Donate
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
your product for an attendance or raffle prize at non-profit associations' events. In return, the organisation usually promotes your business by giving you an advertising space
.
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
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
on their website or promotional flyers.
Approach businesses with complementary products and find out if they would be interested in bundling their product with yours. Bu
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
ild on each other's equity and share promotional costs and profits.
Left-overs are delicious. Recycle your product for a new lease of life.
© 2005 Henriette Martel-Lawso
© 2005 Henriette Martel-Lawso
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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