Main Subject - Business

This is a good time of the year to review your previous year's Marketing and think about what to do for this year. From t

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

he rumours on the street, customer loyalty is down 25 - 35%. Ouch. This means you've got to always be finding new custome

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

Examples of combination products may in

s and that makes planning your Marketing more important because you want to make sure every dollar spent will be effectiv

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.

For many people they cut their Marketing budgets when times are tough. This is not a wise thing to do since the only

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

ay we can invite people to do business with us is to remind them we are here, and open for business. When you stop your M

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

Combination pro

rketing, you stop reminding them you are in business and people just simply forget about you.

So what exactly is Marketi

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

ng? For many people, Marketing is throwing a few ads in a media and waiting for people to come flying through the door. W

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

en this doesn’t happen, then that Marketing activity becomes a huge and frustrating expense. Contrary to what many people

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

think, Marketing is not just advertising, nor is it just sales, nor is it just customer service. These business activiti

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

es are only a few components that fall under the Marketing umbrella.

The purpose of Marketing is to find out who wants,

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

r needs, your product or service, and then find the most cost effective way to talk directly to those people. Recognizing

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

Following aspects would a

that not everyone is your target audience is the first step. It’s also the one of the hardest areas to make business peop

dd to the challenges in developing combination products:

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

le accept. The bottom line is, you can't afford to talk to “everyone”.

How do you get started? Most business people spe

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

d more time planning their vacation, than they do planning how to Market their business. Yes, that statement is true, so

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

t’s not surprising that halfway through the year, those businesses begin to struggle and get frustrated with their advert

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

ising. No plan means no direction, which means knee-jerk marketing, which means ineffective and costly Marketing. Busin

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

Professional from academic institutions, pharmaceutical industries, health care indust

sses without a plan usually end up placing advertising in a variety of mediums (southern Alberta has more than 75 to sele

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

t from) but they can’t actually see any results from these ads. The business owner knows some of the advertising is worki

.

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

ng but some isn't. Unfortunately they don't know which is which.

Phew, all this planning sounds like a lot of work. It i

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

Companies that provide selfless information through particip

, but how important is making your business succeed? Spend the time now and you’ll save time, money and frustration later

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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I always wonder if the 'experts' who appear on the morning shows (The Today Show; Good Morning America; CBS Morning Show) have any idea that they frequently sound stupid to perhaps half the people who are listening to them.

Are you about to pen down your resume before posting it to a lucrative job opening? Have you posted your resume several times to consultants and companies but yet not received any call despite being an eligible candidate?

We talk about it at smbresource all the time. And you've probably heard it before. To make your restaurant big and successful you have to work on it, not in it. But what does that really mean?

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Main Subject - Cut Your Hair - Not Your Marketing!

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