Advice You - Business

The car was drop-dead gorgeous. It had a beautiful dark blue exterior and the interior was brown - very sporty - with a 6-speed manual transmission too boot. There w

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

as no use denying it. I was in love. I probably reduced my negotiating leverage immediately by falling in love with it; however, at that point I just wanted to see it

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

Examples of combination products may in

in my driveway.

The love affair was tempered, slightly, when the salesman handed me the key. It was bent like the leaning Tower of Pisa. The salesman didn’t dare tr

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

to bend the key back into place because it certainly would have broken, which would have sent me to another dealership. He promised to order two new keys, so I bough

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

t the car and left.

They never sent any keys, nor did they communicate with me again. Weeks later I still had this goofy-looking key in my pocket. Whether he realize

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

Combination pro

d it or not, the salesman made a commitment to me, and I placed my trust in him. He failed to deliver. Part of “Hitting the Grand Slam” with your customers is respec

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

ing that your customers have choices, and always meeting their intangible needs. Winning, profitable companies constantly inspire customer confidence by their action

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

s, and always conduct business in a trustworthy manner. They keep their word. Commitments that are kept create repeat customers, and repeat customers create profit.

H

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

ere are some tips for meeting a customer’s intangible needs:

•Follow through! It has been my observation in life that people who do not keep small commitments don't

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

eep big ones either. Customers watch what we do, rather than what we say, because actions, as the old saying goes, speak louder than words. Think about it. If somebody

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

says to you, "I'll call you tomorrow" that's a small commitment. If they don't call you tomorrow, then they have broken a commitment. You will take what they say aft

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

Following aspects would a

er that with great skepticism.

•Always act in an ethical manner: From the top of the company to the bottom, always do the right things. Every so often, when I was run

dd to the challenges in developing combination products:

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

ing my family’s retail wine stores, I would come across an associate that thought he or she could pull a fast one on unsuspecting customers. One time, in particular,

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

an associate tried to charge an elderly couple a higher than advertised price for a case of wine. I was devastated, and after dismissing the employee, I reiterated to

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

our staff how important it was in business to keep our customer’s trust. The same thing applies to life in general.

•Remember that the customers’ service experience

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

sn’t over just because you have their money: Often, despite our best intentions, our service isn’t perfect and our customers call us for additional help, or to rectify

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

Professional from academic institutions, pharmaceutical industries, health care indust

problems. This is “show time”! Customers calling to check on an order, or make other changes are providing us with great opportunities to shine and instill more con

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

fidence in our overall trustworthiness.

The good news is that customers are pretty loyal when you get down to it. In fact, only 16% of customers will leave after one

.

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

bad service experience1. As a result, even if your organization has slipped up once, with certain customers it is not too late to show your respect by seeking their t

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

Companies that provide selfless information through particip

rust and confidence anew. They will believe they can depend on you, and seeking their trust will pay off over the long haul with repeat business.

1When Customers Tal

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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Postcards are valuably known as a material that represents a business. It conveys a message that makes clients turn their heads even without the existence of a personal representative.

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