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And then increasing price, over and above, say, $500-1000, you might introduce coaching, so you may have c

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

oaching that’s $200 a month, or coaching that’s $500 a month, that really gives people an opportunity to g

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

Examples of combination products may in

ow in their niche area. You could also hold seminars—you can hold weekend seminars, you can hold boot cam

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

ps… a boot camp is generally set up as something that is similar to a seminar in that people come out to a

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

specified location, but a boot camp is generally more of a workshop, where the attendants, instead of simp

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

Combination pro

ly taking notes and listening to someone teach, they are actively involved.

So a boot camp could involve

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

ands-on experience in your niche area. And then, for even higher prices than that, $5000 up to $15,000, t

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

hese can be one-on-one intensive coaching sessions, boot camp sessions, sometimes you can put together for

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

$15-20,000 a boot camp session that’s perhaps three days of hands-on, includes some one-on-one coaching, a

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

nd perhaps some extended coaching over the course of a year or two. Some coaching programs can go as high

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

as 10 or 15 or even $25,000 per month, depending on the quality of the material that’s being delivered.

S

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

Following aspects would a

o the big question is how does a sales funnel really help us? Why couldn’t we simply promote the big-tick

dd to the challenges in developing combination products:

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

t item, the $5-10,000 item, right up front, and some percentage of people would be willing to get the info

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

rmation?

Well, the key with the sales funnel is, people are able to take smaller items and kind of sample

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

your service, almost like when you go to the grocery store and there’s someone sampling various types of c

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

hips. And so, for free, you’re able to sample those chips, and if you like the way they taste, perhaps yo

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

Professional from academic institutions, pharmaceutical industries, health care indust

buy a box of those chips, then you take those chips home, and you eat the entire box—if you don’t like th

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

at box after eating a whole box of them, you’d no longer purchase those particular chips. However, on the

.

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

other hand, if after eating the box of chips, you decide that you really like those chips, now you may go

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

Companies that provide selfless information through particip

back to the store and purchase a case of those chips, perhaps you may tell somebody else about those chips

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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Staffing vendors who refer candidates on the strength of a resume and a phone interview—foregoing thorough background checks–are asking for trouble. Case in point from the CEO of Palmiter Recruiting of Plymouth, Minnesota: 15 years ago, before she founded her staffing company, Elizabeth Palmiter was on assignment as a contractor herself when the nightmare of nightmares occurred at a client's worksite.

The entrepreneur craze is sweeping all of America- and with good reason. Many entrepreneurs have become rich through going into business for themselves- and many have watched them, wanting a piece of the pie.

There's only one thing worse than having a business fail and that's having your business fail while you still have thousands of dollars worth inventory left unsold. Talk about adding insult to injury. Don't let this sad scenario happen to you.

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Advice You - Sales Funnel Strategy, Part III

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