Advice You - Business

Independent supermarket retailers who want to obtain the look and feel of a fu

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

ll-blown loyalty program without the full-blown cost have options. There are

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

Examples of combination products may in

many low cost alternatives available to reward customers based on their loyalt

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

and gain valuable customer data.

We all know that all customers are NOT equa

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

l, so why treat them that way? The main issue for the smaller chain or indepen

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

Combination pro

dent retailer has always been the cost of gathering, sorting and utilizing cus

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

omer data. Just having someone ask customers for their e-mail addresses as th

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

ey enter your store is not only a hit-or-miss proposition, but then requires l

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

abor hours to input, sort and then utilize that data. Countless articles have

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

een written that talk about what customers love about shopping alternative for

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

mats, many keying in on what has been termed "the Treasure hunt." Today's sav

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

Following aspects would a

vy retailers have to focus on creating promotional events which are designed t

dd to the challenges in developing combination products:

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

drive traffic and change shopping behavior, not simply run forever to bleed a

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

dvertising and promotional budgets dry. A Rewards program should reward based

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

on proven loyalty, not simply be a "penalty card" program that punishes those

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

who don't have a card, even though they have elected stop in spend their hard

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

Professional from academic institutions, pharmaceutical industries, health care indust

earned money in YOUR store.

Your friends are those customers who have chosen

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

your store as THEIR store. deepening that friendship bond is your job everyda

.

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

as a retailer, or you will soon be like that lonely kid on the playground, wo

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

Companies that provide selfless information through particip

ndering why everyone has recently fallen in love with that "new kid" in school

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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