Main Subject - Business

A great warm-weather fundraising event is a golf fundraiser. Hosting your own golf tournament is actually fairly easy and if done right, you can raise a significant amount of money. Here are some tips for maximizing your

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

results.

Big turnout

Obviously, the bigger the crowd, the better you'll do with your tournament. Promote with quality posters at golf stores, your own offices, and other high-traffic, high-visibility locations. Use your

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

Examples of combination products may in

newsletter and email lists as additional ways to get the word out.

Distribute a press release about your golf fundraiser to all your local media outlets. Describe your most noteworthy news angle in the summary paragraph

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

nd then get into the who, what, when, where, why, and how aspects.

Greens fee markup

Most golf courses will give you a substantial discount for a large group, particularly if you're scheduled for a weekday when traffic

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

s low. You can charge the regular price and do quite well. Or, you can pocket the discount, markup the regular greens fee by $10, and do even better.

Hole sponsors

Contact local businesses and ask them to sponsor a hole

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

Combination pro

To attract eighteen sponsors, make it affordable, say $100 or so. Show them a mockup of the signs that will be placed for each sponsor and your event program where you'll list all your sponsors.

Corporate sponsors

For

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

he biggest financial impact, approach large corporations and ask them to sponsor your event. Companies with headquarters or substantial operations in your area are your best bets. Price your corporate sponsorships at a re

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

sonable level, say $1,000 for a smaller golf tournament, and you'll get a good response.

Put together a sponsorship request on your letterhead and be specific as to what's in it for the corporation, i.e. prominent signag

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

at the event, corporate logo golf balls for all golfers, newspaper coverage, golfing slots for top executives, etc.

Ask around within your group to see if anyone has personal contacts at the management level. Managers o

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

ten have discretionary funds available for reasonable promotional expenditures.

Player sponsors

Just like individuals get sponsors for Relay For Life walks, Multiple Sclerosis bike rides, and other types of event fundra

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

sers, so should your players. Put together a sponsorship form and ask each player to raise at least $100 in pledges along with their greens fees.

Silent auction

Solicit items from local businesses and even offer to pay

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

Following aspects would a

or some popular items that will attract serious bidding such as golf lessons from the club pro or a set of new irons.

On the day of your golf fundraiser, setup a couple of tables full of donated goods and services. Tape

dd to the challenges in developing combination products:

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

idding sheets and descriptions of each item to the tables so that golfers can place bids one-handed.

Make sure to get the bidding started on each item and encourage everyone to bid. Do a last call for bids as everyone is

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

gathering for the awards ceremony that wraps up your tournament, then announce the winners, collect the funds, and disperse the merchandise.

Hold a raffle

You can sell raffle tickets for quality prizes in conjunction wi

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

h your event. They don't even have to be golf related, but it does help to have at least some prizes such as a new golf bag, free round, season pass to top course, etc.

Price your tickets so that you raise at least twice

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 much as your prizes cost. If your prize costs total $5,000, then sell 1,000 tickets for $10 each. You can make even more if you get prizes donated.

To increase sales, sell tickets to the general public and not just to

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

Professional from academic institutions, pharmaceutical industries, health care indust

your group of supporters. You can even set up a sales table at high-traffic locations like shopping centers. obviously, follow all local regulations concerning raffle ticket sales.

Cash bar cart

Load up the back of a go

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

f cart with ice and cold drinks, then drive the course and sell your golfers what they want. Cold beer and sodas are the best sellers, but don't forget to include snack foods like pretzels and chips.

Catered lunch

Work

.

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

ith the club to offer a catered lunch to all your golfers or at least a boxed lunch of sandwich, chips, and a cookie. Depending on what you're offering, markup your costs by $2 to $4 per person and you'll do well. overcha

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

Companies that provide selfless information through particip

ging will actually cut into your total profits.

Summary

If done correctly, a golf tournament can raise a substantial amount of money. Leverage all these fundraising tips and you'll have a record-breaking golf fundraiser

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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