Advice You - Business

It used to be hard to buy books from Foyles, the world-famous bookshop in London's Charing Cross Road. The building was a warren; the layout was haphazard; staff were hard to find. To buy a book, you had to queue twice

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

-- once to pay and get a receipt from some hapless cashier in a barred cage, and a second time to collect your books. No fun at all.

Nowadays, it's a different store. There are friendly staff, clear signs, lifts, air c

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

Examples of combination products may in

onditioning, author events, a jazz caf?, a helpful website, the works. It's a pleasure to shop there.

Somewhere along the line, Foyles realised it had to offer FRIES to its customers. French fries? No -- ketchup and gr

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

ease on the books would be a bad idea. I'm talking about FRIES, the hugely popular business acronym that I've just invented.

F is for Friendliness. The simple act of smiling and being friendly towards customers makes a

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

n incredible difference. The world's friendliest man works in MVC, a record shop near where I live. You can't walk out not smiling. (By contrast, I always used to walk out fuming from the local branch of Dixons electrical stor

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

Combination pro

. Before it was shut down.) And it's not just people - marketing materials, shop fronts and websites can be friendly or hostile too.

R is for Reassurance. When you invest in a one-off product or service, it really help

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

s to have some sort of reassurance about what you’re getting. For example, one of my favourite business gurus is Robert Middleton, who helps independent professionals to market their business. When you buy his services, you ca

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

n read testimonials, take advantage of his money-back guarantee, and get access to ongoing support. These are all great forms of reassurance.

I is for Information. OK, we're all drowning in too much data. (My digital c

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

amera came with 13 leaflets!) But helpful and relevant information is always welcome. Buy a book from Harper Collins' Perennial imprint and you may well find a 16-page P.S. section at the back. There might be an author intervi

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

ew, a book-club guide, suggestions for further reading, and so on. Like DVD extras, the quality is variable, but when it works it's great.

E is for Extras. It's nice to get more than you expected. When you sign up for

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

n online bank account with Egg, you get an online money manager, which can keep track of all your accounts - even those with other banks and building societies. It also gives you one point of access to all of them. It's a fant

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

Following aspects would a

astically useful service which really reinforces the benefit of opening an Egg account in the first place.

S is for Simplicity. Some industries delight in making things complicated for their customers. (Mobile phones c

dd to the challenges in developing combination products:

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

ome to mind.) Go the other way – make it simple. When I needed a new PC at the start of this year, I read a magazine review of a promising machine made by Evesham. PCs are assembled from many components (processor, RAM, graphi

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

cs card, screen etc) and specifying one takes time and research. Evesham’s website makes it easy. There is a list of reviewed machines, which you can order as they are, or which you can use as the basis for changing specific c

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

omponents as you see fit. Simple and brilliant.

And what about your competitors? It's always worth buying from them (if it's straightforward to do so -- buying a bridge from a competing civil engineer might be going a

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

it far. Ditto mortgages from another bank. But you could certainly get the forms...). For one thing, you can get ideas from taking their products or services to pieces. But also concentrate on the buying experience. Did you ge

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

Professional from academic institutions, pharmaceutical industries, health care indust

t FRIES with it?

All of this is obvious, but businesses don't DO it. Knowing that something's important is not the same as acting on it -- the mere knowledge is not enough.

So here's a challenge for you. Everyb

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

ody loves FRIES. So what could you do to make it easier and more pleasurable for your customers, consumers or clients to buy from you?

© 2005 Charles Kingsmill. You are free to use material from this article in whole or in pa

.

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

rt, as long as you include complete attribution, including live web site link. Please also notify Charles Kingsmill where the material will appear. The attribution should read: "By Charles Kingsmill. Please visit Charles’s web

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

Companies that provide selfless information through particip

site at http://www.StrategyXL5.com for additional information and resources on growing your business." (Make sure the link is live if placed in an eZine or in a web site.

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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