Advice You - Business

The Indian retail industry is thriving today. There is stiff competition among Indian and foreign retailer

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

s to attract customers and retain them. In this tug-of-war, quality retailing has emerged as the solution.

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

Examples of combination products may in

The retailer who provides quality products and services along with a quality shopping experience succeeds

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

in the long run.

The quality of the product offered by the retailer has two aspects – the perceived quali

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

ty and the actual quality. Perceived quality or point of sale quality refers to the image that the custome

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

Combination pro

has about the product while buying it. The actual quality or the point of use quality is the quality of t

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

he product that the consumer experiences while using it. The retailer plays a very important role in build

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

ing up perceived quality with the use of attractive display. The retailer is in direct contact with the cu

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

tomers and so he can play a significant part in helping the manufacturer reduce the gap between actual 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

perceived quality. The retailer should also ensure quality at the various stages of the supply chain so t

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

at the quality of the product is not affected.

Another important factor to be considered for quality reta

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

Following aspects would a

iling is the quality of the services provided to the customer. Today’s customer wants a unique shopping ex

dd to the challenges in developing combination products:

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

perience. Retailers are striving to help customers enjoy their shopping expedition as much as possible. Th

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

difference between shopping in India and shopping abroad is reducing gradually, particularly with several

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

large malls coming up all over India. Customer mentality is different in different countries. Particularl

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

in India, there are huge cultural differences among the people of different states, which in turn affect

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

Professional from academic institutions, pharmaceutical industries, health care indust

their buying behavior. In this scenario, it becomes necessary for the retailer to survey the customers’ cu

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

lture and expectations so that he can train his staff to appropriately meet these expectations.

.

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

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

Companies that provide selfless information through particip

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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So what is the value of training? Many organisations say they now agree that their work force is their greatest asset and so investing in their development is both necessary and worthwhile these organisations place a high value on training. However, some still see training as a necessary interruption to work and productivity and place very little value upon it. Do you need to quantify and measure it? Is the value you place on developing your staff and management purely monetary or is there a greater benefit to the individual and to the organisation?

In these days of massive corporate downsizing, what can you do to protect yourself? Thinking outside of the resume' box.

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