Advice You - Business

Your fund raising letter must persuade the recipient to take an action that much of humanity thinks peculiar: to give money away.

To accomplish this s

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

eemingly unlikely objective, your appeal needs to be built on the psychology of giving. Forget your organization's need. Instead, focus on the needs,

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

Examples of combination products may in

the desires and the concerns of the people you're writing to. Your job is to motivate them.

People send money because you ask them to. Public opinio

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

n surveys and other research repeatedly confirm this most basic fact of donor motivation. "I was asked" is the most frequently cited reason for giving

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

Moreover, the research confirms that donors want to be asked. Focus group research also reveals that donors typically underestimate the number of ap

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

Combination pro

eals they receive from organizations they support. These facts help explain why responsive donors are repeatedly asked for additional gifts in nearly

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

every successful direct mail fund raising program. When you write an appeal, keep these realities in mind. Don't allow your reticence about asking fo

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

money sound apologetic in your letter.

People send money because they have money to give away.

The overwhelming majority of individual gifts to non-

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

profit organizations and institutions are small contributions made from disposable (or discretionary) income. This is the money left over in the famil

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

checking account after month's mortgage, taxes, insurance, credit cards and grocery bills have been paid. Unless you're appealing for a major gift, b

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

quest, or multiyear pledge, your target is this modest pool of available money.

For most families, dependent on a year-round stream of wage or salary

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

Following aspects would a

income, the pool of disposable is replenished every two weeks or every month. That's why most organizations appeal frequently and for small gifts. If

dd to the challenges in developing combination products:

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

your appeal is persuasive, your organization may join the ranks of that select group of charities that receive gifts from a donor's household in a give

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

n month. If you're less than persuasive or if competing charities have stronger arguments - or if the family just doesn't have money to spare that mon

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

h - you won't get a gift. It is as simple as that.

For example, if you write a letter seeking a charitable gift, you may succeed in tapping into the

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

100 or $200 that person would probably have "left over" for charity during the month your letter arrives. If your appeal is persuasive, that person mi

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

Professional from academic institutions, pharmaceutical industries, health care indust

ght send you $25 or $50 - $100 tops - because he decides to add you to the short list of nonprofits he will support that month.

Now you may have the m

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

staken impression that as a businessman, a snappy dresser and an all-around generous fellow, they have a lot of money. You may even be aware that he h

.

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 occasionally made much larger gifts to local charities. But you're unlikely to receive more than $50 because that's all he has available right now.

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

Companies that provide selfless information through particip

Those few larger gifts he gave didn't come from his disposable income stream. They came from other sources and required a lot of planning on his part

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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Increased productivity - doing more without using more resources - provides higher real wages and lowers prices, improving standards of living.

Have you ever sat in front of your computer looking for a document – knowing it was there – the question is: “Where?” The answer gets amazingly complicated if the document is an attachment someone sent to you from someone else’s e-mail account!

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