Main Subject - Business

On my way to the locker room at the fitness club, I passed by a gentleman who was looking dressed for work, standing behind a table. The table had a banner draped down from it that said something like "XYZ Financial." On the table he had a bowl of bananas and several bottles of wat

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

er. As people walked by, he would ask, "Would you like a free bottle of water?"

Gosh, I hope you pictured yourself walking past that table and seeing some guy in a suit at the fitness club asking you that. What would you say? Let me tell you what I observed. I observed people res

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

Examples of combination products may in

ponding just like I did, "No thanks." Why were most of the people there weary about stopping and accepting the free water?

Before I come right out and answer that, I want to take you with me on a visit to the Costco warehouse. Imagine that it's Saturday at noon. Once we mak

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

e our way over to the food section we see vendor after vendor sampling their chimichangas, their protein bars, their cheesecake, and even their bottled water. Do we hesitate for even an instant from taking those samples? Of course not.

Interestingly enough we have no trouble accep

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

ting the hand-outs from the Costco vendors for the same reason that we refuse the hand-outs from the guy in the suit at the fitness club. We know what they're selling. When someone is selling water and he offers you a free sample of water, it makes sense. The sales pe

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

Combination pro

rson is giving you a taste of what he's selling. But when some is selling financial services and he offers you a bottle of water or a banana, it seems disingenuous because it feels like he is trying to trick you into talking to him.

So get this, after I finished my workout I notic

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

ed that someone else had set up a table to sell something. At this table they weren't giving anything away, but they did have signs on their table informing people about their youth basketball camps and men's basketball leagues. People were not only stopping to pick up brochures, t

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

ey were whipping out credit cards to sign up for the camps.

Now part of what was going on there is a no brainer. The basketball sales people understood that the prospects most hungry for their service go to fitness clubs. By setting up their table at the fitness club, they assiste

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

d their prospects to sign up for a service they had probably been meaning to sign up for but just hadn't for various reasons. In other words, the basketball sales people fit into the environment.

Am I saying that the financial guy shouldn't set up a table at a fitness club?

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

No, but I am saying that he needs to think more about the prospects he is standing in front of and how to give them something they want, when it comes to financial services. he needs to ask himself questions like, "What is every person who walks into a fitness club obviously conce

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

rned about?" Then he could play to that common ground.

If it were me, I'd ditch the banner with "XYZ Financial" and get one that said, "The Easiest Financial Exercise Few People Actually Do." On the table I'd have several free reports, for example: "The Easiest Financial Exercise

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

Following aspects would a

Few People Do," "The 5 Healthiest Financial Choices for Families," and "Can Healthy Living Actually Affect Your Financial Portfolio?"

I'd also ditch the nice suit in this situation (and believe me, I truly love wearing my nice suits) and try fitting in with my prospects by wearin

dd to the challenges in developing combination products:

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

g some shorts, sneakers and a T-shirt that said something to fit in with the environment and my marketing for that day. For example: Fitness Success n. - not waiting to be skinny to start an exercise plan. Then just below that, I'd put something like this: Financia

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

l Success n. - not waiting to be rich to develop a plan.

When people walked by, I would simply ask if they'd like a free report on the easiest financial exercise few people do. My contact information would be on that report, and once they came over to get a free report

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

could over them my other reports in exchange for their email address or phone number.

One thing is certain, the people who would stop for that free report would be actual prospects. They would be intrigued by the financial exercise that few people ever do. They would want

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 know if they were doing it, and my chances of starting a dialog with them would be far greater than with someone who stopped by for a banana because her two year-old was hungry and wanted a banana.

I'm sure you've heard that the average person is exposed to some 3,000 marketing

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

Professional from academic institutions, pharmaceutical industries, health care indust

messages a day. That's hard for me to believe, but even if the average person is exposed to only one tenth that many marketing messages, one has to start filtering. In risk management, filtering is a technique used to eliminate ideas that are less important than others. A great wa

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

y for prospects to filter out less important marketing messages is to ask the questions, "Was there integrity to that message?" "Did that message feel congruous with the messenger?" "Can I benefit from that message/offer?"

Keep in mind that you and your message/offer will i

.

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

mmediately be filtered out if your prospects answer yes to even one of those questions. One thing is certain, if you're going to rent space somewhere and spend a few hours of your time trying to generate prospects, you're better off offering people something that coincides w

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

Companies that provide selfless information through particip

ith what you are selling. The secret to generating prospects is in taking the time to figure out who your ideal prospects are and then developing a plan to appeal to those prospects. The truth is, it's actually rather simple. But just because it's simple doesn't mean that it's easy

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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Entrepreneurs cannot make their decisions by committee. There is no committee! It's the you, you and you show! You have to make decisions quickly and stand behind them. Will you make mistakes? Yes! But that's ok!

The use of Stretch Hooder film will allow for an environmentally safe, cost effective, energy saving and convenient way to palletized materials. Stretch Hooder Films combine with UVI protection and with the right blend of plastic raw materials strongly improves load stability which is an advantage for pallet covers while it replaces Shrink Films that require heat sources and the use Stretch film that carries a glue.

With more managers communicating through new technologies, rather than travel and face-to-face meetings, we need to consider what can happen to important messages when they are transmitted through the new media.

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