Advice You - Business

You cannot make an important amount of money just moving fingers. You cannot built a profitable business without working many nights.

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

You need hard work, good luck and inspiration, but the truth is you cannot achieve good results without having a plan, because the ke

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

Examples of combination products may in

y to the success in any venture is the effective marketing.

How to succeed in designing a good marketing plan ?

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

Nothing easier, you need a pencil, a piece of paper and the desire to answer to a certain questions. Be creative and use your imagin

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

ation to find new ideas regarding particular ways to market your products.

1. What is your goal?
This is the most cri

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

Combination pro

tical question, because the answer will decide the flow of your future plan. The marketing approach will be different if you want to

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

improve sales of an old product or you want to introduce a new one.

2. Who is your target audience?
Do you intent to

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

address your campaign to everyone or you are targeting a particular group ? If you choose to sell a new product think whether you wil

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

l involve your old customers or not.

3. What are the main steps your campaign will focus?
Evaluate what are the benef

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

its of your product that you are marketing. Think what benefits will gain your customer by accepting whatever offer you have. Make a

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

list of this benefits, but make it as long as you can. Try to decide why people will trust your product and buy it. They should have

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

Following aspects would a

some interests to do that. Do not ignore the fact that very often people buy products they want from people they know and trust. Deci

dd to the challenges in developing combination products:

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

de if it is necessary to promote your expertise.

4. What are the appropriate ways you can promote this campaign?
Make

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

another list because this is an important question. Try to consider ezines, safelists, banners, articles, newsgroups, message boards

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

, search engines, mail, reports, postcards, press releases, fliers, radio, TV. Are you thinking to use paid or free advertising ?

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

r>
5. What is your budget?
You may have no budget but you can afford a serious amount as well. Once you will have the answe

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

Professional from academic institutions, pharmaceutical industries, health care indust

r, you will know if you must do all the work yourself or you can hire an expert. Having this answer you must reconsider the previous

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

4 steps accordingly.

If you can answer all questions clearly, then you get an effective marketing plan. It might be intere

.

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

sting to involve other people you know to answer the above questions.

Set a period for review, do not put your plan in pra

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

Companies that provide selfless information through particip

ctice immediately. Do not work at random, prioritize your steps and focus your energy to solve the most important points of your plan

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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Critics conclude that entertaining or “creative” commercials sell better than those that are bland. But liking the commercial may not really be that important in the scheme of things. It all depends on the needs and preferences, motivation and financial reservations of the customer. The question isn't whether people like the advertisement or not, it’s whether the advertisement is effective in selling.

The present article discusses the notion of kaizen and its role as the integral part of TQM philosophy. The major points of interests are the core of the kaizen philosophy and what can be learnt from it, implementation requirements and the importance of corporate culture as one of the most important determinant of successful integration of kaizen

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