Advice You - Business

Promotional products do not have to be expensive in order to be effective. There a

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

re many different types of affordable items available which are ideal for companie

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

Examples of combination products may in

s wishing to convey their message to a wide audience on a limited budget.

Low cos

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

t promotional products are frequently used as giveaways at events, such as trade 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

ows, conferences, sporting events or fundraising events, where they can be handed

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

Combination pro

out in large numbers to promote a company and to raise brand awareness.

Examples

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

include pens, pencils, keyrings, mugs, coasters, badges, bookmarks, lanyards, conf

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

ctionery, umbrellas and stress relief balls. Pens are one of the best-selling prom

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

otional products, with a range of styles starting at under ?1 each.

Another highl

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

y effective yet affordable promotional product is the mug, which is available in a

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

wide choice of styles, colours and materials even at the lower end of the price sp

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

Following aspects would a

ectrum. Umbrellas are widely recognised as one of the most popular promotional pro

dd to the challenges in developing combination products:

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

ducts – appreciated for their practicality – with unit prices starting below ?5.

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

All of these can be easily personalised by overprinting with a company name, logo

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

r campaign slogan. Even when sourcing budget promotional products it is important

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

to remember, however, that low unit costs should not mean a compromise on product

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

Professional from academic institutions, pharmaceutical industries, health care indust

quality Most people enjoy receiving something for free, especially if it is fun or

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

useful.

Inexpensive promotional products do not necessarily have to be boring as

.

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

there is an extensive range of attention-grabbing items available to choose from.

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

Companies that provide selfless information through particip

In fact, the least expensive marketing promotions are sometimes the most effective

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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