Main Subject - Business

In order to make a sale your customer needs to believe you are the person with the product or service who will solve

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

their problem. They need to get to the point where they trust that you will make things better for them.

Just beca

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

Examples of combination products may in

use you know all about your products and services, your client will not. There may be huge gaps in their understandi

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

ng of what you do and how long it takes. They may be ignorant of the knowledge and skill required to do what you do

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

and what's more: they do not know what they do not know. They may not see the value in what you provide so

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

Combination pro

t is your job to educate them. Can you demonstrate your product? How many of the senses can you involve? Can you pro

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

ve your cost-effectiveness? Do you have a graph to show savings? What about case studies, before and after pictures,

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

or testimonials from happy customers?

Teachers of fiction writers repeatedly tell their students: 'Show, don't tel

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

l'. In other words, don't tell the reader the soldier went to war and felt miserable. Show the reader his misery --

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

the rats in the trench, the incessant rain, his cold hands against the steely bayonet and the mud that made the fles

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

around his finger nails rot like maggots on last month's cauliflower cheese. You get the picture!

Show your client

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

Following aspects would a

s the advantages of your product or service. Show them what it means to them -- how it will save them time, make the

dd to the challenges in developing combination products:

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

m more money, make them thinner, younger, more gorgeous.

For example, if you are selling tax advice show your custo

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

mer a testimonial from a happy client that saved $5,000 in taxes last year after spending just $400 with you.

Imagi

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

ne you are selling a pre-cracked fresh egg mix to a meringue company; work out the savings in breakages, transportat

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

on and packing costs of a liquid delivered in a bucket rather than eggs in cartons. Work out the labour savings in e

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

Professional from academic institutions, pharmaceutical industries, health care indust

gg-cracking time and add up all these savings in a week, a month or a year. Now show your client a picture of the in

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

crease in meringue sales and a graph of the extra profits, and how one cent more per meringue converts to $100,000 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

n extra sales per annum. Whip up a batch of fresh meringues and let them taste the difference.

The best way to win

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

Companies that provide selfless information through particip

new business is show -- not tell -- your customer how much of a difference your product or service will make to them

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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Intellectual Property Rights (IPR) is one the most important tools in the recent few years for technology and innovation protection. Patent is one of the IPR and is most important from all other rights. It contains most uptodate technological information and effective use to patent information of technological and competitive intelligence is an art. A lot of Indian firms are providing the global quality IP services.

Do you ever wonder if you will really succeed with your small business? You may have a number of special traits, but how well developed are they? Ask yourself these questions to see if you have what it takes.

When buying something, you can buy in one of two markets. The first is buying on terms in the retail market and the second is buying in the wholesale cash market. This can be illustrated by referri...

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