Advice You - Business

Q. What is a premium?
A. In direct mail fundraising letters, a premium is an item offered to a donor,

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

usually at no charge, to encourage the donor to make a donation.

Q. What’s the difference between fro

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

Examples of combination products may in

nt-end and back-end premiums?
A. Premiums that are included in the mail package are called front-end prem

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

iums. Premiums that the donor must request are called back-end premiums.

Q. What are some examples of

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

ront-end premiums?
A. Labels, note pads, greeting cards, calendars and decals.

Q. What are so

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

Combination pro

me examples of back-end premiums?
A. Books, DVDs, tote bags.

Q. Which kind of premium is the

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

most popular among mailers?
A. Front-end premium.

Q. Why do non-profit organizations mail pre

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

iums?
A. To boost response rates.

Q. What are some advantages of premiums?
A. Premiu

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

ms tend to attract more gifts when mailed to current donors, and attract more first-time donors when mailed to pro

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

spective donors. Also, because of their bulk, they tend to encourage more people to open, rather than pitch, fundr

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

ising letter envelopes.

Q. What are some disadvantages of premiums?
A. Premiums tend to attra

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

Following aspects would a

ct gifts that are smaller than those generated by packages that contain no premium, and they attract donors who ar

dd to the challenges in developing combination products:

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

e less likely to give again. Some donors who are acquired with premiums can only be renewed with premiums. Premium

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

s also attract gifts from donors who are motivated by guilt or obligation rather than by philanthropy.

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

Q. How do I know if premiums are right for my organization?
A. Test and find out.

Q. What kin

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

d of premium should I offer?
A. The most important factor in choosing a premium is that it complements yo

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

Professional from academic institutions, pharmaceutical industries, health care indust

ur mission. Greenpeace offers a cotton tote bag that is an environmentally friendly alternative to plastic shoppin

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

bags. The Billy Graham Evangelistic Association offers books written by Billy Graham. Avoid premiums that appear

.

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

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

Companies that provide selfless information through particip

print provided the links remain live and the content remains unaltered (including the "About the Author" message)

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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The death cycle in retailing is a series of events which, if not caught and corrected in time, will cause the financial demise of the store/business as surely as the sun rises in the East. The death cycle usually starts as a result of buying more merchandise than the Store can sell profitably.

Some smart souls take their credit card, cut it into a million pieces, and walk away without a backward glance. Other smart souls take their card and tuck into their wallet only using it if they find themselves facing an emergency. Still other smart souls use their credit card for regular daily purchases and then pay the subsequent bill each and every month. A few smart souls even use their cards to splurge and then spend the rest of the month digging through the couch cushion looking for spare change when the bill arrives in the mail.

Project management refers to a planned and systematized way to successfully accomplish a particular task. Project management is about setting targets, developing strategies that focus on minimum use of resources, choice of resources and setting deadlines and budgets.

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