Advice You - Business

We have all heard of the term “Information Overload”. We live in an era where we are bombarded with informa

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

tion – most of the time, people are trying very hard to sell something or the other through this “informati

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

Examples of combination products may in

n.”

Every product category has too many players fighting for a toehold in the prospect’s mind.

So how do

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

you ensure that you get through to your prospect through this haze of information? How do you ensure that h

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

remembers your product over the competitor’s?

Simple, You make use of the fact that anybody will remember

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

Combination pro

something that is different from everything else.

You have to invest time and find out what it is that is

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

different about your product. What does it offer that others don’t? Which of your prospect’s untapped needs

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

does your product cater to? Why should anybody do business with you as opposed to your competitors? What ar

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

the advantages your prospects would have if they chose your product?

Once you have found answers to these

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

questions, you can easily find out what your “Unique Selling Proposition” is.

“Unique Selling Proposition

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

or USP is marketing jargon for “the uniqueness in your product that would make prospects choose it over ot

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

Following aspects would a

ers in the same category”.

USP is also called USA nowadays. This stands for Unique Selling Advantage.

Onc

dd to the challenges in developing combination products:

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

e you have found out your USP or USA, you have to make sure it is a part of every communication you have wi

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

h your prospects. It is not enough to have a USP. You have to make sure your customers KNOW it and EXPERIEN

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

E it.

Your business should be centered round your USP, ensuring that this Unique benefit is experienced by

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

the customer and communicated to every prospect.

Merely having your company’s and product’s name listed a

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

Professional from academic institutions, pharmaceutical industries, health care indust

various places isn’t going to get you any sales. If you include your USP/ USA in those listings, you will

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

e able to reach out and touch the prospect because you will be addressing a deep-rooted “want” of his. It i

.

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

s this ability of your USP to make sure that the prospect feels you identify with him/ her that will lead t

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

Companies that provide selfless information through particip

sales and long term relationships.

So find out what your Unique Selling Advantage is and make money on it

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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Is your Company or Corporation really serious about customer service? If you are and just kidding yourself do not expect the customer to develop schizophrenia like you and simply not notice the reality of the situation. As a customer I know and you should know I know, you know? How I can tell when you are not serious about Customer Service?

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