Advice You - Business

So you’ve decided that getting your name out there is going to be one of your major goals for the

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

New Year. But how do you do that on a limited budget?

That’s where publicity comes in. And you

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

Examples of combination products may in

can do it. It just takes time – and a plan. Here are the seven basic steps to creating a 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.

1) Decide who your target market(s) is. There may be more than one, but your target market is not

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

everyone. A good way to find out is look at who currently buys your product or service and creat

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

Combination pro

a profile of them.

2)Write down three strategies you will use for each market. They can includ

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

e:
Speaking/workshops
Press releases
Articles
Ezines or print newsletter <

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

br> Letters to the editor
Postcards
Networking events
Blogging
Podcastin

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

3) Set a measurable goal for each strategy. How many speaking engagements do you want each quar

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

ter? How many releases will you send out each month?

4)Write down several topics or themes. Cre

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

te at least one for every goal you set.

5) Learn how to do each of the strategies by researching

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

Following aspects would a

. There are hundreds of articles and tips on each PR strategy on the web. All will help you imple

dd to the challenges in developing combination products:

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

ment your plan better.

6) Schedule time each week to work on your goals and strategies. Research

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

shows that a small business needs to spend about 20% of its time marketing. And if you’re a new b

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

usiness it’s more like 50%.

7) Evaluate every 3 months to see how you’re doing. You may find tha

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

some strategies aren’t working well, and others are really paying off. This way you can discard

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

Professional from academic institutions, pharmaceutical industries, health care indust

what ineffective and change your focus, if you need to.

Businesses that want a leg up on their

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

competition need to focus on boosting their public relations efforts. This keeps them from going

.

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

nder when the economy is weak, and gets them ahead of their competitors when sales start picking

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

Companies that provide selfless information through particip

up. With a New Year approaching, now is the perfect time to get a fresh start on your PR planning

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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My first year as a Cyberpreneur was a steep learning-curve. I was an academic before starting an online business, so I had a lot to learn. But even if you were in offline-business before going online, you may still have to learn some new skills -online business is a whole new ball-game. Here are some of the things I learnt in my first year in Cyber Space:

Medical claims billing is an exciting but complex profession to succeed in. Hard work, dedication and desire will take you a long way. If you have that then read on.

Leaders make two types of decisions. They are ether conscious decisions or unconscious decisions. The former are traits of true leaders the latter are traits of phoney leaders.

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Advice You - Gear Up for the New Year With Free Publicity

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