Advice You - Business

Luring customers into your retail store requires that you create for them a memorable experience - one that will both capture their attention initially, and bring them back for repeat business in the future.

The window displays are lik

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

ely your only chance at capturing the attention of a passing customer that was otherwise not planning on visiting your store. This may seem second nature at first - but it really works! Below is a real life example from this past week

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

Examples of combination products may in

nd.

I was in the local mall, shopping for birthday presents for my son. Normally I avoide malls like the plague - however this time I was forced into one as I had a specific demand from my son to fulfill. He wanted the new Lego Star

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

ars II video game that just came out this week. I had no idea how immensely popular this game was. After trips to all of the local big box retailers - with no luck as they were all sold out and the next order wasn't due in until it wa

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

too late - I was faced with a dilemma. Either try to explain to a nine year old on his birthday that the stores were sold out of the one thing he wanted more than anything, but that he would get it soon...or go to the mall in a last d

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

Combination pro

tch effort to find the treasure. Picturing the crestfallen look on my son's face as I tried to explain the absence of the desired gift, it was an easy choice. To the mall I went.

I was a man with a mission - get in, grab the goods, a

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

d get out as quickly as possible, with a minimum amount of time expenditure. After all, it was Saturday and there was college football to watch! I found the video game at a small specialty gaming store in the mall. They had a handful

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

of them left. Jubilant, I left the store and began the racewalk to the mall entrance.

As I sped by a men's store, I noticed a very handsome, hip, and sleek brown suede leather jacket in the window. I kept walking, but found myself th

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

nking about how cool that leather jacket looked. About twenty steps later I could not take it any more. I stopped dead in my tracks and began to argue with myself about whether or not I should go back. I couldn't stand it - just one

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

ore quick look - then on to football. I turned around and went back to the window where I saw the leather jacket. I admired how nice it looked on the mannequin, and at this point noticed not only the jacket but the sharp sweater under

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

eath the jacket, and the polo underneath the sweater. I noticed how nicely the browns and yellows and reds in the store display went together - a perfect combination of fall colors to adorn the upwardly mobile and hip professional man.

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

Following aspects would a

At this point I actually became cognizant of what was happening - I realized the store display was working its psychological magic on me - yet nonetheless I fully appreciated the message this store display was sending to me, and the lo

dd to the challenges in developing combination products:

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

k that it was projecting. I wanted that look. I wanted to look like that. So I entered the store - which I never would have done otherwise (I was there for a children's video game, remember?) - just to try the jacket on.

Of course t

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

e jacket fit wonderfully and looked great in the mirror. Okay, Mr. Salesman, I'll take the jacket. A steal at $119.00.

Well, yes sir, in fact I just might be interested in that sweater. Go ahead and show it to me. Five minutes late

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

I had added that to my purchase. $89.00. And while I'm here, may I please also look at that polo? Another five minutes, the polo was added to the ensemble, as was another $65.00.

At the cash register, I realized I needed one of tho

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

e sticky-tape lint remover roller things. I don't know what they are called, lint rollers probably, but I did know I needed one as soon as I saw the display on the counter. Add another $6.99 to the sale.

That, folks, in case you were

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

Professional from academic institutions, pharmaceutical industries, health care indust

wondering, comes to $279.99. I made my purchase and left, eager to take my family out for a nice evening, in my new clothes.

The point of this story is this: a retail store display that connects with your customers, and creates an exp

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

rience of which they want to be part, will increase your sales. I wanted to live the life that the mannequin in the window was portraying - hip, young, attractive. The leather jacket caught my eye, and I ended up purchasing the entire

.

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

ensemble. Then, at the register, yet another store display sold me a product I would have never thought of buying on my own - the lint rollers, neatly lined up by the cash register, what's another few dollars?

As I got into my car, I

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

Companies that provide selfless information through particip

eflected on the fact that I, a person trained in retail store displays, was so moved by an effective display. I have never thought of myself as a spontaneous buyer. But the mannequin and store display did their job.

And I will return

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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You are a business. You are the president of your own personal services corporation. If a business is going to to succeed it must market itself, and you are no different. We are living today in an indifferent global market that is more competitive than at any time in history. To be successful today you must be able to identify and then market all of your unique talents and abilities to the world. You must have a clear and concise message and a way to deliver that message to the right market.

Bosses may be clueless about what employees (and others) really think of their management skills.

Marketing affects the sales and operations of any business. These three marketing mistakes can kill a business.

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Advice You - Create a Connection with Retail Store Displays

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