Advice You - Business

Any sales person will tell you that a large part of sales is in building relationships with people – the people who decide which products and services and companies their

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

business will pay for. Corporate gifts can play a role in helping build those relationships at a number of different points. Here are five unusual occasions where a corpor

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

Examples of combination products may in

te gift can help build relationships and improve your bottom line.

1. A New Business Opening
There’s no better time to introduce your company and your services to a

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

potential customer than at the very start. Keep an eye on your local business news to stay current on new business openings that can offer business for YOUR company, and d

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

op them a “Congratulations!” gift. Make it something practical to stand out from the rafts of plants and flowers, and include a personalized coupon for a discount on their

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

Combination pro

first order or consultation.
Special Suggestion: A bottle of sparkling wine with which to toast their opening

2. Thanks for the Referral
Did a current customer

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

refer a business associate to you? Did you pick up a new account on the strength of an introduction from a long-standing associate? Let your business boosters know that y

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

u appreciate them by acknowledging their referrals with a thank you gift.
Special Suggestion: Corporate apparel is in vogue. Say “Thanks” with a gift that marks your

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

associate as an ambassador for your company. A rugby sweatshirt or jacket embroidered with your company name and logo will say Thank You in high style.

3. On Reaching 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

Landmark
Every firm has special events that few outside the company acknowledge. It may be the traditional company summer picnic, or the successful launch of a new pr

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

duct. When you send a gift to acknowledge those events, you are saying “You are important enough that I notice these things” – and that is the cement that holds business r

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

Following aspects would a

elationships together.

Special Suggestion: Order a batch of balloons imprinted with “Congratulations from ” to keep on hand for those special occasions

dd to the challenges in developing combination products:

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

When one crops up, fill up a balloon bouquet of a dozen with a helium tank and have it delivered along with a gift basket of edible goodies and a personalized note of con

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

grats.

4. The Promotion of a Key Employee
You’ve got your finger on the pulse of the firms with which you do business – make it count in more ways than one. Has the

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

ales assistant who places the orders been promoted to manager? Foster good will with a gift to wish her success in her new position – and keep your company on her mind whe

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

it comes to making bigger decisions.
Special Suggestion: Put together a gift basket with items chosen specifically to appeal to the personal tastes of the recipient

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

Professional from academic institutions, pharmaceutical industries, health care indust

– and tuck in one or two small promotional items with your company logo that they can use in their new position. One great idea – a business card wallet or holder to displ

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

y their new business card.

5. Thanks for Your Order
Don’t just drop an email or make a phone call. Express your appreciation for a big order with a thank you gift. T

.

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

hanks for your order gifts needn’t be anything flashy or expensive – in fact, they work best when they’re little useful items that can sit on a desk and come into service

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

Companies that provide selfless information through particip

very day.

Special Suggestion: Many a busy professional will appreciate a cube of sticky notes with a unique twist, or a handful of pens to keep in a pen tub on their desk

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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