Advice You - Business

In an exhibition where buyer, seller and product are brought together under one roof is viewed by business people as an opportunity for

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

generating business. Exhibition provides the chance for them to share their innovations and latest development to their customers.

In f

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

Examples of combination products may in

ct, exhibitions can offer you massive opportunities that a wide range of sales and marketing objectives can be achieved. Exhibition is a

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

n occasion to generate and increase sales, launch new products and build brand image. More importantly, it will give you a chance to mai

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

tain customer relations. However, is the scale of your exhibit important?

A big, headline-grabbing exhibit is all very well, but someti

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

Combination pro

mes, some customers demand a more personal approach. And smaller events, done properly, can generate sizeable sales. If you consult even

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

professionals to what extent that your exhibit should be organized and they often provide you with a mixed response. The truth is that

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

there is no simple answer to whether you should go big or go small. Different sizes of exhibit will all serve different purposes, depend

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

ng on whether the idea is to firm up working relationships; close a deal; bring a new product to market; increase brand awareness; or ga

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

in new customers.

Regardless of the scale of your exhibit, there are a variety of benefits of participating exhibitions. For example, i

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

you plan to boost your company image, change market perceptions on your products or increase annual sales, you can penetrate a large au

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

Following aspects would a

dience in a short time and most importantly, you can achieve more in a few days than you may otherwise achieve in months. Exhibitions ar

dd to the challenges in developing combination products:

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

also one of the quickest and most cost-effective means of exploring and entering new markets.

Furthermore, in contrast with the passiv

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

e traditional advertisements and direct mailing, exhibitions involve a two-way communication process. Visitors can question and obtain a

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

swers while exhibitors can give and seek information. Most importantly, business is conducted face to face - the most persuasive form of

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

selling, and of building customer relationships. More often than not, participants in an exhibition are usually very active in obtainin

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

Professional from academic institutions, pharmaceutical industries, health care indust

facts as well as information rather than passive recipients of your sales and marketing messages. They make a conscious decision to att

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

end, and set aside valuable time to do so. An advertisement, direct mailing or web page may say a product is the fastest, quietest, smal

.

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

est or most advanced on the market. At an exhibition, buyers can see, taste, touch and try your product for themselves. Nothing beats th

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

Companies that provide selfless information through particip

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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