Advice You - Business

The first thing I did before I ever exhibited at a trade show was learn everything I could about exhibiting. The one thing that stuck in my head was Time Management.

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

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One particular show comes to mind. There were thousands of attendees, but only a limited amount of potential buyers of my product. So, it was important for

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

Examples of combination products may in

e to set a goal of getting as many qualified leads as I could, and then market to them after the show.

Here’s what I did. I bought a putter, a portable pu

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

tting green, 300 globe stress balls, and T-Shirts. I drew traffic by offering a free t-shirt to anyone who could make a putt.

Now here was the kicker… Th

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

y had to make the putt with a globe stress ball - not a golf ball! Trade shows are fun and most people enjoyed taking putts and watching others putt. It was always fu

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

Combination pro

ny for the non golfers to see their golfer co-workers put on an even playing field.

So here was the plan. While people were waiting their turn to putt, w

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

e made sure to ask them what they did, and if they ever bought promotional products.

Now, everyone who made the putt got a free T-Shirt, but if

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

e found out that they were not qualified and they missed the putt, we didn’t want to spend too much time with them. We simply gave them the stress ball and some literat

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

re to pass along to the decision maker. We moved them in and out of the booth in 3 minutes.

If we felt they were qualified, after the putt we would take

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

them through our sales pitch. Whether they made the putt or not, we made sure to give them an assortment of samples, company literature, and a T-Shirt.

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

What makes this so special? The T-Shirt was not only an item with more perceived valuable, but as I mentioned in a few of my other articles, wearables have a huge rete

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

Following aspects would a

tion and re-use rate. So we made sure to get repeated exposure to a qualified prospect who had the need for our service.

But you know what else? We took t

dd to the challenges in developing combination products:

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

heir business card or information and asked permission to follow up after the show. We did not take information from unqualified buyers.

Why is this impor

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

ant? Because if they are not a qualified prospect, you don’t want to spend time and money marketing to them after the show. I never rented a lead system because I did

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

not want a bunch of non qualified leads in my database.

The business cards we collected were stapled to a lead sheet where we wrote notes to use in our fol

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

low up. All of our marketing after the show was focused on buyers. Needless to say we had a great conversion rate.

Let me just quickly reiterate. The prod

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

Professional from academic institutions, pharmaceutical industries, health care indust

ct we used to move them along was the stress ball. Everybody left the booth happy and we kept the lead machine moving.

Keep in mind…Unqualified leads cheer

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

ng in your booth is a good thing too. People were drawn to the “buzz” in our booth. Remember, traffic draws traffic. Slow days and slow hours were always busier for

.

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

us than the booths around us.

There are a lot of different things you can do with trade show giveaways but as you can see from my example you should

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

Companies that provide selfless information through particip

probably have a disqualifier (inexpensive) and a qualifier item. Both will serve you well and it sure beats giving stuff away and not knowing what you spent the money on

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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