Advice You - Business

One of the many things Jay Levinson lists as a guerrilla marketing tool is the name of your business. When I read this, I thought, how can a name be a

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

marketing tool? The more I thought about it, however, the more this made sense to me.

In most advertising, the name takes up the most space. We don’t

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

Examples of combination products may in

ant readers, viewers, or listeners to forget who we are. If they listen to our advertising message, decide they really need to become our customers, an

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

d then can’t remember who they wanted to order their must-have specialty widgets (or service) from, they’ll buy it from someone else. We will have prov

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

ded someone else with free advertising, simply because of the function of our name.

But what if our advertising works in reverse? Suppose all the read

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

Combination pro

er/listener/viewer remembers is our name. If they can’t remember what they wanted to purchase, then they will shrug us off and forget us.

So many time

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

, we aim to create a memorable name that really doesn’t describe what we do. And if folks passing by on the street don’t know what our business is for,

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

the odds are good that they won’t stop in to see how we can help them.

While I drove through Kitty Hawk, North Carolina on our ‘vacation’, I made a n

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

te of some great names. In all cases, I won’t need to tell you what the business was. The two most well known, of course, are Subway and Dollar Tree. S

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

ubway is a clever play on a restaurant to purchase…subs! And at Dollar Tree, everything is a dollar.

I also passed ‘Beach Memories Scrapbook Store’. R

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

member, this was on the beach. I thought this was a fantastic name. Not only does it let you know what it is – a scrapbook store – but it also acts as

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

Following aspects would a

advertising. What scrapbooker, wanting to save memories from their fabulous vacation, could resist a store named ‘Beach Memories’? This even has the ch

dd to the challenges in developing combination products:

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

nce to appeal to the occasional scrapbooking tourist.

Another restaurant I saw whose name made me giggle was ‘Jimmy’s Seafood Buffet’. Now, spelled ou

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

t on paper, this doesn’t seem remarkable. However, the words “Jimmy” (without the ‘s) and “Buffet” were slightly larger than the rest of the words, thu

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

making the phrase “Jimmy Buffet” stand out. A clever play on words that proves itself memorable – I didn’t even have to look at my notes. If we hadn’t

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

been just driving by, I would have loved to show you how the sign worked well as advertising, also. Overall, a ten.

The last place wasn’t so clear as

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

Professional from academic institutions, pharmaceutical industries, health care indust

to what they did, but you would never forget where they were. “Mile Post 6 Plaza” is located directly beside…mile post six! This seemed to be more of a

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

strip mall, with several businesses located inside, but I found it quite interesting. The name here is functional, works for the several companies ins

.

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

de, and makes sure you don’t forget where you are!

Many years ago, Romeo asked Juliet, “What’s in a name?” A good small business owner should know tha

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

Companies that provide selfless information through particip

t, while a rose by any other name may smell as sweet, it wouldn’t sell as well. No, wait, ‘rose’ isn’t a good name for a business….but you get the idea

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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Medical transcription the industry that render doctors dictated reports, procedures and notes into an electronic or paper format in order to create files representing the treatment history of patients. Usually health practitioners dictate what they have done after performing procedures on patients.

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Advice You - What's In a Name?

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