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Many of us learn from the Gurus that we should identify a niche and dominate it, so we can make money online. They give us brief glimpses about what is to

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

be done, like identifying a niche market by browsing magazines and hanging around in forums and discussion groups to see if we can be hit by an idea brainw

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

Examples of combination products may in

ave.

Oh how I wish it was that easy. My first attempts at finding a niche made me feel like I've gone deeper into quicksand, and the niche with a great d

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

mand had an awful lot of competition. Not one to be outdone, I went and bought software and books to learn what mistakes I made and try to recover from the

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

mistakes. I learned all about demand, and how "wordtracker" is the best service to use to assess demand for keywords and how to assess and estimate supply

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

Combination pro

from "Google" manually. I saw lots of products offering to teach me how I should target the market, research the keywords, analyze the KEI (Keyword Efficie

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

ncy Index, which tells you the relative profitability of the keyword you select based on demand,supply and competition), and signed up for a lot of courses

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

to learn more about niche marketing.

To cut the process short, this is what I learned:

a. You must have a niche (this is easy, you don't want to try to

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

compete with the biggies)

b. You must assess the demand - i.e. find buyers in this market with money to spend.

c. You must see who you are pitted agains

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

t - your supply estimate to see the competition.

d. Having found the demand and supply, and with a fair idea of the competition, you must find the profit

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

bility of your niche business idea.

e. Once you feel it is profitable, get into product development around this niche.

f. Promote the product and pocke

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

Following aspects would a

t the cash ...

What you end up learning the hard way is that all these people who write about earning money with google adwords ads don't tell you how muc

dd to the challenges in developing combination products:

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

h they spent on the ads, and if it is really that profitable..see, it is a numbers game, as I will show you below:

Assume you will have a decent 1% conver

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

ion rate for your product. That means for every 100 clicks you will make a sale. At a minimum bid of 5 cents, you will surely turn a profit for every $5 sp

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

end you do. But then, real life is not that easy. You have people competing against you, and your 5 cent bid doesn't attract clicks, leave alone buyers. S

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

you either lose this small amount every day, or hike your bid to get some good clicks. Say you hike your bid to $0.25. At this rate, you would spend $25

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

Professional from academic institutions, pharmaceutical industries, health care indust

to make a sale... get the trend of my thinking?

Unless you are lucky and able to find cheap keywords with high demand to bid on, the google adwords will

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

remain a losing proposition. Or else you have to find the words people use when they look to buy something on the internet, and bid high on those keywords,

.

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

to increase your conversion rate. This was the situation I found myself in..until I found elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

.com" target="_blank">this book that explains actually how to find profitable niches.

Get this book now. It takes the guesswork out of niche marketing

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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