Main Subject - Business

I know, I know...

Huh?

Please allow me to explain, because this is an instant profit generator for your business.

I mean it.

If you own a business that of

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

fers multiple products or services to your market...how do your customers find out the ways that your business can benefit their lives?

Do they have to actually ask you? I m

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

Examples of combination products may in

an, is it their fault if they don't do enough research and find out from other sources what you have to offer?

Nope, it isn't their<

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

strong> fault...it's your fault...and your responsibility to educate your customers how your business can benefit their lives.

"But

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

Joe, I have a website/brochure that does all of that. Man, your a moron...telling me that I have to educate my customers on all of the services/products that

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

Combination pro

offer. Plus, they never ask me what I offer, so I assume they don't want to know." When a business owner replies this way...I naturally challenge them:

<

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

m>"Ok, Mrs. Business Owner, so what you are saying is it is your customers responsibility to use your brochures and websites etc... to educate th

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

emselves on your business and its offerings? What if they don't understand everything you offer? What if they don't want to read your website or brochure to find out

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

ow about every way you can help them?" "Mrs. Business Owner, how are you going to get your message across?"

Let's exp

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

nd on this a little...using an example from a consultants business. * A client hires a marketing consultant to execute the marketing for their business.

* During th

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

process, they uncover that the client's business lacks a system of marketing to their existing customer database. This requires that copy be written for the mailers to go out

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

Following aspects would a

to that database. Well, the consultant should be able to tell you that client will pay fees to write that copy on top of the fees for executi

dd to the challenges in developing combination products:

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

g the database marketing effort.

Why?

Because in the beginning of any relationship that consultant builds with their clients...They should educate them on the value

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

f copywriting as part of their marketing process...then inform them that they offer that as well. This consulting relationship just had some val

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

ue - added...because the consultant ensured that their clients are aware of, and educate them on the value of, every one of the services that

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

the consultant provides.

And this can happen for you too. You cannot trust that your website, brochure, or other marketing collateral will do this all - importa

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

Professional from academic institutions, pharmaceutical industries, health care indust

t task. If you have sales staff, they need to be trained properly in offering and educating your clients on your entire menu of services or products

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

that you provide and offer these to your new and existing customers. If you have not done this very well up to this point...this is an instant
.

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
g> source of cash flow for your business.

As a bonus tip for today...

Go to your existing customer database if you have one. Start the process of educating and marketing
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip
rong>all of your services or products to them, one at a time. Cha Ching :)

How do you market these extra offerings to your customer base?

That is for the next post

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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