Advice You - Business

When I was at Mark Victor Hansen's Mega Marketing Magic seminar, he gave everyone in attendance a stack of "Mega Action Cards."

The st

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

ack was actually a tablet of 52 cards, one for each week of the year.

The challenge?

To dedicate yourself to implementing one idea

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

Examples of combination products may in

a week for 52 weeks. The suggestion was to select ideas from those we were learning over the three-day event, and actually commit to impl

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

menting those ideas.

What a great idea!

After all, how many of us have attended seminars and come back home with new ideas only to end up

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

shoving them in a drawer to never again to see the light of day.

We're certainly not going to grow our business that way.

The only way to

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

Combination pro

grow your business is to take action every single day. There's always more to learn, but at some point you just have to go for it.

If

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

ou over analyze every single idea and you're always waiting until you learn a little bit more before you step out and try something, your bu

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

siness will grow slowly, if at all.

You can't be afraid to just do it.

If you'd like to read an article I wrote on this topic, visit

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

http://www.10stepmarketing.com/fire.htm

It wasn't always this way.

But in the past two years I've found I'm able to accomplish so much more if

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

I take action sooner rather than later.

Sure, you may take a few mis-steps when you do this, but you'll also learn and move your business f

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

orward a whole lot faster than if you sit back and wait until you've got everything mastered.

As a recovering perfectionist, this was a big s

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

Following aspects would a

hift for me, but it has paid off big-time.

I'd like to challenge you to adopt this "take action" mentality with your business.

Ask you

dd to the challenges in developing combination products:

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

self every week, what's one action you can take to move your business forward. And don't be afraid to go out on a limb.

In addition to pulli

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

ng ideas from your marketing plan, I encourage you to continue learning new ways to market and build your business. And start implementin

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

g those new ideas along with your planned activities.

Currently I'm on week 3 in my 52-card Marketing Action Plan, and I intend to contin

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 implementing at least one idea every week. The first 3 weeks have been very productive so I know if I can keep it up I'll have an amazing

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

Professional from academic institutions, pharmaceutical industries, health care indust

year.

How about you?

What's one action you can take this week to move your business forward?

I encourage you to write it down and take

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

it.

(C) Copyright 2006 Debbie LaChusa

Want to use this article in your ezine or web site? You can as long as you include the following copy

.

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

ith it: Debbie LaChusa created The 10stepmarketing System to make marketing your own business as simple as answering 10 questions. Learn more

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

Companies that provide selfless information through particip

about this unique, step-by-step system and get a free 10-step Marketing E-Course when you subscribe to the free, weekly 10stepmarketing Ezin

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

Tags

Links

Advice You - Your 52-Card Marketing Action Plan

Related Articles: