Advice You - Business

Surprisingly, so many business owners think that marketing is the process of simply getting your name out there. However, once your name is “out” there, what

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

are you going to do next? Let’s examine the fabric of a basketball game for a moment. You have the face-to-face competition of two opposing teams trying to wi

; 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 the game they are playing. They came with “one” goal in mind and that is to win! Now, they have to do the following things better, in order to defeat their

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

opponent:

1. Strategize (A doable plan on how to defeat their competition by studying their strong and weak areas)

2. Practice (Diligently working on their

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

strategy to defeat their competition, capitalizing on their weak areas)

3. Execute (Implement the plan that they’ve religiously practiced to ultimately defea

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

Combination pro

t their competition)

These are simple things to do, but it takes observation, dedication, tenacity and implementation to be better than your opponent. The ba

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

ll (your business) is in your court to make it happen! I remember our high school cheerleaders shouting this particular cheer to pump up our basketball team d

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

uring their games: “ACTION, ACTION, we want ACTION! A-C-T (clap, clap, clap) I-O-N!” They would repeat this chorus several times when the offense had the bal

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

l. Why? Because the fans wanted the team to score and to pull out all of the stops to win! We expected the unexpected! You MUST take action!

A marketing plan

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

doesn’t have to be complicated or sophisticated. At any point it can be changed as needed. It should be functional and flexible. A functional marketing plan

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

should address your goal, product/service, targeted market/audience, how to reach your potential clients, what strategy will successfully retain repeat custom

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

Following aspects would a

ers and attract new clients. Flexibility takes place when unexpected changes in the marketing program are needed. Don’t assume that your customers will know w

dd to the challenges in developing combination products:

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

hat it is you have to offer, simply from seeing or hearing your business’ name.

So often, it’s easy to blame others for our failures. But how long do you sit

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

there and play the “blame game?” When do you finally realize that it’s time to rise above the ashes and take charge of making things happen for you? Your dec

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

ision now, will ultimately affect the lives of those around you later. Never forget that you can easily fall into one or more of these categories if you don’t

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

heed the warning signs:

• people who “watch” what happen

• people who “wait” for things to happen

• people who “wonder” what happened

It’s okay to watch

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

Professional from academic institutions, pharmaceutical industries, health care indust

(you have to be observant). It’s even okay to wait (you have to be mindful of your timing). It doesn’t hurt to wonder from time to time. But, don’t become com

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

placent or get stuck into one of these categories. It will be harder to get out! Be that business owner to MAKE things happen. You have to raise the bar of yo

.

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

ur business expectations, beyond the idea of just getting your name out there! Nobody can make you successful, without your help. The ball is in your court! A

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

Companies that provide selfless information through particip

re you just going to stand there and “dribble” all day? Or are you going to take a chance by shooting the ball and make the winning shot for the championship?

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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Biofertilizers:
Increase crop yield by 20-30%.
Replace chemical nitrogen and phosphorus by 25%.
Stimulate plant growth.
Activate the soil biologically.
Restore natural soil fertility.
Provide protection against drought and some soil borne diseases.

A dating business might be the right franchise opportunity for you if you want to work from home and enjoy meeting new people. The numbers of single people are rising all the time as people leave marriage for later and divorce rates are on the increase.

Profit magazine ran an article that compiled management advice quotes from leaders of Canada's fastest growing companies. The quotes were just randomly posted on the pages without stating the name of the person that said the quote. This is fitting because these were great quotes, motivational, without regard as to who said it; they are spoken by Canadian business leaders and managers but they are universal and apply to business throughout the world, including The U.S.A.

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Advice You - There’s More To Marketing Than Just Getting Your Name Out There!

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