Main Subject - Business

No matter how much money you have in your marketing budget, it seems there’s never enough. From the marketing department at Microsoft to the small nonprofit start-up, there’s always the desire to expand your budget for more effective promotion.

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

On the surface, trade shows may not seem to be the best use of those marketing dollars. But when you factor in some basic components of effective marketing strategy, such as target audience, immediate one-on-one personal attention and follow-up

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

Examples of combination products may in

there are few marketing strategies that produce such a strong return on investment.

Now, a good marketing plan will include more than just attending trade shows. For maximum exposure in your market, you must have a multi-faceted approach: netw

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

rk marketing, marketing materials, a website and trade show marketing These tools and strategies are just a handful of effective marketing techniques, and generally perceived as the most essential. And while each technique has its strengths, non

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

will give you the return on investment that you will receive from exhibiting at a trade show.

Network Marketing
This is one of the oldest, most effective, time-tested methods of marketing. Before there were business cards and broch

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

Combination pro

res, offices and telephones, marketing strategy and advertising budgets, business owners promoted themselves by literally speaking to customers one-by- one. Idealistically, speaking to one person and asking to be referred to friends who may matc

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

your demographic creates a ripple effect and brings customers to your door.

The downside of this age-old tactic is the time involved. As a professional, time is money. In order to network, you must attend meetings and go to events that may be

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

of interest to your target market and personally introduce yourself to people one-by-one. In addition, you often pay membership fees for some of these networking functions. The problem is, these meetings and events are smaller gatherings of peop

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

e, and you are not going to be able to cover the ground that you would at a larger gathering.

Marketing Materials and Website
Most businesses arm themselves with business cards, brochures and other print marketing materials to distr

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

bute to the public. And increasingly, the essential need for a website has become standard for any smart marketing plan. Without these basics covered, you will find it quite challenging to compete in your market, no matter what type of business

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

ou are in.

The print materials are a good start but allocating the costs of reproducing and mailing them, and the process of constantly updating them, are no small tasks. Websites are an incredibly powerful marketing tool because any business –

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

Following aspects would a

whether one employee strong or tens of thousands strong – can present you to a global audience. But like the printed materials, the site must be maintained and continuously updated to truly have impact. In addition, because neither of these tool

dd to the challenges in developing combination products:

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

lack interactivity with the prospect, you are not immediately able to guide their interpretations of the information or answer their questions.

Trade Shows
There’s two reasons trade shows draw millions of people from all around the

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

world each year – a targeted audience and face-to-face, one-on-one contact.

The trade show is similar to network marketing but on a much larger scale. You have a large target audience swirling around you, so you conquer the first big hurdle of

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

marketing – weeding out the people who are not interested in your industry (because they aren’t going to attend the trade show). And face time with your prospects enables you to further pre-qualify them to set a smooth landing for a follow-up or

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

a sale.

The only possible objection with trade shows is the expense of them. When calculating your trade show budget, you must factor in travel expenses such as airfare, ground transportation and accommodations, meals, snacks, giveaways, the co

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

Professional from academic institutions, pharmaceutical industries, health care indust

t of being out of the office, the cost of your trade show display, and trade show exhibit fees.

The costs can really add up and, on paper, may make your finance manager reach for the ant

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

cid. But there is no other marketing opportunity that affords you personal contact with such a concentrated target market. In the end, attending a trade show is likely to produce the largest pool of qualified leads when compared to many other ma

.

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

keting tools – giving you the best return on your marketing investment.

Trade shows are a crucial ingredient of your marketing strategy. While networking, printed marketing materials, your website and trade show marketing are all interwoven to

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

Companies that provide selfless information through particip

xecute an effective plan, the trade show provides the highest volume of potential customers and is the most direct. Attend trade shows on a regular basis and the results will likely eliminate any second guesses you may have about the money spent

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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Marketing Expert David Ferrers tells you about the strengths and weaknesses of accountants as business people. It is their strengths that makes good clients. He recommends that you have an accountancy practice in your client portfolio and reveals the keys to interesting them in your services.

A recent survey by the Gallup Management Journal reveals that nearly three of every ten workers believe their jobs are harming them physically. My question for you is: Are you partly to blame? Thirteen tips to make your workplace a healthier place to be, physically, mentally and emotionally.

Late last year I was presenting a workshop for the senior managers of a major organisation. Whilst doing a pre-workshop survey to assess the challenges these managers were experiencing it became very...

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Main Subject - Trade Show ROI: Why Trade Shows Give You the Most Bang for Your Marketing Bucks

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