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Main Subject - May is Gold Month: Important Tips for Capitalizing on Gold Month Promotions
Jewelry retailers across the country are gearing up for May 1, the official start of gold month 2006. Sinc
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
e 2004, jewelers have used May as a platform to reach customers considering purchases for Mother’s Day, gra
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
uation, first communion, confirmation and the bridal season. In addition to the gift-giving opportunities,
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
the campaign is also designed to inspire self-purchase, encouraging customers to update their spring and s
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
mmer wardrobe with new styles of gold jewelry.
Retailers should think beyond products when they are consid
Retailers should think beyond products when they are consid
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
ering ways to attract new business during gold month 2006. Because the ‘May is Gold Month’ event is really
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
still in its infancy, it is important to establish an in-store theme to inform customers of the occasion, a
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
nd any promotions the store is running in conjunction.
Here are a few tips to consider when preparing to a
Here are a few tips to consider when preparing to a
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
tract new business during gold month this year:
Tell the World: Use retail signs in and outside th
Tell the World: Use retail signs in and outside th
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
e jewelry store to advertise gold month to people passing by. If customers are out shopping for a unique g
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
ft, they will be more likely to visit your jewelry store if there’s a retail sign telling them about your p
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
omotion.
Show them What You’ve Got: Consider a specialty jewelry display case that showcases a wide
Show them What You’ve Got: Consider a specialty jewelry display case that showcases a wide
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
array of items featured for gold month. A special display case will be beneficial well beyond a gold mont
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
promotion. It will allow your store to highlight hand picked products for special events throughout the y
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
ear.
Send the Message Home: Reinforce the gold month theme by using all gold colored jewelry packag
Send the Message Home: Reinforce the gold month theme by using all gold colored jewelry packag
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
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
ng in the month of May. Consider custom printed jewelry boxes, shopping bags and gift bags, as well as the
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
packaging extras like ribbons and bows to keep your store and gold month fresh in the customer’s mind.
“M
“M
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
y is Gold Month” is your opportunity to set your company aside and capitalize on a customer base that is re
.
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
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
ady to buy. Be at your best by creating an environment that brings them in and keeps them coming back thro
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
ghout the year. For additional inspiring ideas and products for your jewelry store, visit
www.nu-era.com
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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