Advice You - Business

One of the most important principles in business is branding. This is because it plays a big role in creati

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

ng product awareness and creating more business for companies. Given this, companies make it a point to com

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

Examples of combination products may in

e up with logos and produce collateral material such as letterheads, envelopes and business cards that proj

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

ect a professional brand or image. Recent developments such as the dawn of e-commerce has also made it poss

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

ible for companies to project and promote their brand using tools such as the Internet. Companies come up w

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

Combination pro

th web sites and use e-mail for various business purposes. This has spawned more uses for electronic media,

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

which, in turn, have aided companies in their advertising and brand awareness efforts. One of these effort

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

s is the use of CDs as business cards.

Business Card CDs

In recent times, the preferred mode of informati

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

on exchange is through re-writable compact discs (CD-Rs), because they are more convenient and efficient to

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

use. However, CD-Rs nowadays are no longer used for the mere exchange of information, since businesses hav

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

also found a way to use them in their branding efforts. They now use CD-Rs to advertise their brand by usi

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

Following aspects would a

ng them as business cards as well. They do this by asking companies offering duplicating services to print

dd to the challenges in developing combination products:

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

their company name, logo, and other pertinent information on the CDs. These media are then given to clients

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

during presentations as well as potential customers during trade fairs.

As an add-on, CD duplicating comp

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

anies now offer CD-Rs in different shapes, one which is the square-shaped CD, which is now popular among va

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

ious companies. Despite the different shapes of these CD-Rs, they are still as efficient because they are d

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

Professional from academic institutions, pharmaceutical industries, health care indust

esigned to work with the usual CD-ROMs found in most computers.

A recent development in the use of electro

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

nic media for branding purposes is the inception of the Business Card CD. This innovation has made it possi

.

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

ble for companies to take advantage of the popularity of CDs. Today, CDs are a convenient way of exchanging

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

Companies that provide selfless information through particip

data to make a company’s brand more visible not only to current clients but to potential customers as well

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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Wondering if that new business venture is going to be the success you were hoping for? With a little Coaching from Lesley Moore, Executive Coach, you will see that the answer lies within you.

Although companies have much in common with one another, they also differ in many ways. Some companies are large, some are small and some operate in only one product area, others operate in many diversified areas. Some operate in a small geographic area whereas others do business in many countries of the world. To cope with these varied objectives, strategies and situations, companies adopt different structures.

There they go again. Starbucks Corp. is on a mission to boost sales of glittery snow globes and other non-coffee items. Been there, done that, and not very well.

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