Advice You - Business

I was reminded the other day when talking to a friend to the importance of good old customer service, not to

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

over look, or prejudge any situation. Today’s children are not customers of the future but quite possibly

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

Examples of combination products may in

your A or B class customers of today. When they have money in their pockets they spend it freely without mu

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

h thought. They know what they want and as most parents will agree they just don’t stop nagging till they ge

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 their own way. I guess they learn at a young age now that persistence will always beat resistance. Also pa

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

Combination pro

t time jobs pay well and many will opt to have money as a gift at birthdays or Christmas. This brings be to

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

a friends story I heard recently.

His son having accumulated near on $800 in Xmas money decided he was goin

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

to spend it wisely on an MP3 media player locally. This lad in his early teens with money in hand proceeded

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

down town with the excitement and anticipation of spending his fortune. Upon entering the store he when str

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

ight to the service counter as with so many customers today he had done all the research as to brand and mod

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

el he wanted. After being ignored for the best part of 10mins he left both anger and very upset.

The worst

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

Following aspects would a

thing was due to the poor customer service of this business all the other local retailers selling similar a

dd to the challenges in developing combination products:

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

roduct were starved of this sale with now him purchasing out of town.

Although we can’t turn back the clock

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

, we can learn from any situation and its important we do. Mistakes are costly and our customers often don’t

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

give us a second chance to get back on track. In this example

•Don’t prejudge any situation
•Your acti

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

ons of today will have long lasting consequences either good or bad
•Our customers are transient and wi

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

Professional from academic institutions, pharmaceutical industries, health care indust

l easily spend out of town – lets not give them an invitation to do so
•Children are customers of toda

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

y – treat them like a VIP have them as raving advocate – and they will be good source of referral business.<

.

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

r> •Always be looking to exceed your clients expectations

Business today is a never ending quest for impro

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

Companies that provide selfless information through particip

vement. So ask yourself this simple question what have I done this month to make my business a success story

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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Advice You - Kids Are Customers Too!

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