Advice You - Business

If you build it, they will come. Unfortunately, this axiom does not necessarily work in the event venue world. Not all conference spaces are created equal, nor are they branded equally – or effectively, in many cases.

A succ

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

essful event venue has a defined “personality” and ably addresses a need or void within its space. A branding process is vital, especially when establishing new conference space. This article addresses five steps to creating

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

Examples of combination products may in

an identity and securing an audience for an event venue.

• Create a visually appealing brand

What a conference center communicates through its outbound materials helps define the experience attendees’ will have. For instanc

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

e, is the space better for interactive meetings or educational symposia? Does the facility have more appeal to corporate executives or to customer service staff? Will attendees be treated to a plush experience?

Don’t forget

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

he power of the Web to communicate a venue’s “vibe” as well. A custom-built website allows event planners to learn about the facility and its configuration options. A great website is a key marketing tool, with the ability to

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

Combination pro

provide updated facility news, including floor plans and photographs, and interactive tours of the facility.

• Identify the audience

The best meeting space matches its attendees’ needs perfectly. To get to that point, a ve

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

nue must identify primary users of the space. If the key audience is IT professionals, the venue should have the latest technology: wireless hot spots, great A/V and more. If the audience leans toward scientific groups, ensur

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

e the conference center has breakout rooms, poster presentation areas and lecture-style auditorium.

• Illustrate value to prospective audiences

Technology, design, flexibility – a great conference center offers many things

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

o many people. As with any investment, showing a positive return is important. Does the technology inside a venue meet the needs of the most demanding presenter. With so much competition for events business, building great te

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

chnology and design into a conference space and delivering a positive work environment to attendees is vital for “state-of-the-art” venues.

• Communicate an identity

Having a great facility and attracting qualified meetings

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

to it are not necessarily linked. Event planners have an array of tools to identify meeting space that fits their specific criteria. With the Web, industry publications, trade shows, advertising and direct marketing, there a

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

Following aspects would a

re many ways to find a facility and many ways to market one.

Using a multi-pronged approach of direct marketing, public relations and advertising, an event venue can saturate key audiences with news before and after a facili

dd to the challenges in developing combination products:

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

y has opened.

Marketing initiatives to communicate a brand include:

• Conducting “hardhat” facility tours during its construction phase to build pre-opening interest.

• Building a direct marketing database.

• Creating par

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

tnerships to add to the richness of the venue’s offering and to create a referral source community for the facility, by targeting collaborating with continuing education programs, hotels, travel agencies, destination manageme

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

nt companies and exhibition companies.

• Participating in meeting industry trade shows.

• Hosting charity events and industry association events, especially those that attract potential users of the space.

Public relations

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

initiatives target meetings publications by securing venue listings and placing news in industry association publications, such as Meeting Planner International’s Meetings.

• Ensure structure exists to support the offering

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

Professional from academic institutions, pharmaceutical industries, health care indust

It’s vital to deliver on what you promise. Managing an event facility is time consuming. Having the proper support systems in place, and automating as much as possible, eases the operational side of venue management. Administ

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

rative details to firm up before attracting an audience include:

• Determining pricing for all audiences and types of functions (day vs. night, poster session vs. lecture series, corporate vs. non-profit, full facility use v

.

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

s. partial, etc.)

• Creating catering packages

• Identifying additional elements, such as security, staffing and parking

• Building a comprehensive sales kit and contract

• Selecting venue management scheduling technology

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

Companies that provide selfless information through particip

• Deciding whether to keep A/V technical staffing in-house, or to outsource it

Great branding isn’t the only strategy that makes an event venue work, but it certainly helps create an individual personality to drive success

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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