Advice You - Business

Recently a very innovative and bright business-marketing student had a brillia

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

nt idea for her marketing project. Building a filtration and reverse osmosis s

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

Examples of combination products may in

ystem to clean car wash water at a car wash and then reuse it for all the othe

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

water needs at the car wash such as landscaping, toilets and pressure washing

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

the concrete and facilities. But the question is if someone produces such a s

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

Combination pro

stem to do this, can they sell it and will car wash owners buy it?

Business M

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

arketing Student Paula Chavis has the whole thing worked out as she uses this

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

innovative concept of hers for her project. She will have a team of sales peop

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

e call on customers who are interested from advertising, website, catalogs and

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

other sources.

Now then one other point is that will also be needed to sell

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

t will have to be a plan to PR the water conservation story to the community w

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

Following aspects would a

ith a PR kit to make the sales team the choice for the carwash owner. Since th

dd to the challenges in developing combination products:

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

ere are other similar systems which the carwash owner once they have the idea

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

ay purchase instead, so this PR kit should include a plaque for their carwash

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

lobby that they recycle and reuse water, some graphics for their website and p

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

ess releases which your sales person hand delivers to their local newspaper to

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

Professional from academic institutions, pharmaceutical industries, health care indust

o. That is one benefit, which will have the car wash owner choose you over any

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

competition. Your system idea although not for reusing the water to wash cars

.

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

like other systems, still gets them the right PR. Consider the merging of inve

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

Companies that provide selfless information through particip

stment in water conservation equipment with the PR value for business purposes

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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It is widely held that one of the most important ingredients in small business success is perseverance. Deciding on a strategy and sticking with it. I would agree but you need to be clear that the strategy is in alignment with your passion in business and your natural action and communication styles.

In a guest column, Registered Financial Consultant Mar Sue Durrbeck answers a business owner's question about starting a 401(k) plan for his employees.

You’re the boss, and you have every reason to feel good about your organization. You’ve built a great team. You’ve put strong players in every spot. You have clearly defined procedures for every part of the business. You have incentive, safety recognition, and bonus programs. But something doesn’t seem quite right...

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Advice You - Reusing and Recycling Carwash Waste Wash Water for Landscaping; Public Relations

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