Advice You - Business

Many businesses bemoan the downturn in sales and ‘lack of customer loyalty’.

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

(One of the terms for these types of consumers is: ‘brand tarts’). They try t

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

Examples of combination products may in

pinpoint the source of the problem with expensive consultants or simply thro

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

w advertising dollars at the issue, only to end up bewildered (and jaded) whe

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

they don’t work. What’s the solution? Believe it or not, the first step may

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

Combination pro

ust be to switch radio stations.

One of my first instructors in my marketing

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

course mentioned that we should tune into the WIIFM radio station as our ass

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

gnment for the week. With no small amount of confusion, we all looked at each

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

other and wondered if our instructor badly needed a holiday.

When our instr

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

ctor wrote down this acronym, the lights began to go on:

WIIFM = ‘What’s in

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

t for me?’

Every time you draft a direct sales letter, or write that award-w

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

Following aspects would a

inning copy for a glitzy brochure, you need to keep that little statement in

dd to the challenges in developing combination products:

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

ind.

Sure, you want to sell 100,000 of your nice, shiny products, but what d

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

oes your consumer want?

Customers who buy boats don’t just want to get from

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

oint A to point B.

Home builders don’t sell a house; they sell a lifestyle.

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

Customers who need a web site don’t (necessarily) want the most technological

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

Professional from academic institutions, pharmaceutical industries, health care indust

ly advanced site in the world. (Sorry, but this isn’t just an exercise for fo

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

io building!) They want a marketing tool that gets results.

As soon as you s

.

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

tart picking up on the waves from WIIFM, and creating marketing materials tha

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

Companies that provide selfless information through particip

are attuned to your customer’s needs, the results will be music to your ears

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.adviceyou.org.ua/article/24915/adviceyou-Tune-in-to-WIIFM.html">Tune in to WIIFM</a>

BB link (for phorums):
[url=http://www.adviceyou.org.ua/article/24915/adviceyou-Tune-in-to-WIIFM.html]Tune in to WIIFM[/url]

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Advice You - Tune in to WIIFM

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