Advice You - Business

Jewelry retailers across the country are gearing up for May 1, the official start of gold month 2006. Sinc

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

e 2004, jewelers have used May as a platform to reach customers considering purchases for Mother’s Day, gra

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

Examples of combination products may in

uation, first communion, confirmation and the bridal season. In addition to the gift-giving opportunities,

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

the campaign is also designed to inspire self-purchase, encouraging customers to update their spring and s

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

mmer wardrobe with new styles of gold jewelry.

Retailers should think beyond products when they are consid

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

Combination pro

ering ways to attract new business during gold month 2006. Because the ‘May is Gold Month’ event is really

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

still in its infancy, it is important to establish an in-store theme to inform customers of the occasion, a

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

nd any promotions the store is running in conjunction.

Here are a few tips to consider when preparing to a

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

tract new business during gold month this year:

Tell the World: Use retail signs in and outside th

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

e jewelry store to advertise gold month to people passing by. If customers are out shopping for a unique g

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

ft, they will be more likely to visit your jewelry store if there’s a retail sign telling them about your p

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

Following aspects would a

omotion.

Show them What You’ve Got: Consider a specialty jewelry display case that showcases a wide

dd to the challenges in developing combination products:

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

array of items featured for gold month. A special display case will be beneficial well beyond a gold mont

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

promotion. It will allow your store to highlight hand picked products for special events throughout the y

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

ear.

Send the Message Home: Reinforce the gold month theme by using all gold colored jewelry packag

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

ng in the month of May. Consider custom printed jewelry boxes, shopping bags and gift bags, as well as the

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

Professional from academic institutions, pharmaceutical industries, health care indust

packaging extras like ribbons and bows to keep your store and gold month fresh in the customer’s mind.

“M

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

y is Gold Month” is your opportunity to set your company aside and capitalize on a customer base that is re

.

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

ady to buy. Be at your best by creating an environment that brings them in and keeps them coming back thro

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

Companies that provide selfless information through particip

ghout the year. For additional inspiring ideas and products for your jewelry store, visit www.nu-era.com

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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Multi-line small business phones are ideal for upcoming small businesses. With multi-line operations, one can put the current call on hold to make another call. It becomes possible to use two phone lines with just one phone. This makes the multi line phone an efficient and convenient device to manage business calls. Multi-line small business phones are mainly available in markets as corded business phones and non coded business phones.

Why some foreign-funded enterprise became successful when entering the China market while others fail, and why some grow relatively faster than the rest? The following points hope to answer some of the doubts and create some awareness in foreign investors before investing in China.

Whether you presently own a retail or web based business and are looking for an additional profit center or you are thinking of starting a business, jewelry is a “no-brainer” choice for a proven product category. The buying public, (particularly women) never tires of jewelry as the choices in color, materials, finishes and styles are endless and innovations are continual. Every generation reinvents jewelry for itself in much the same way that it reinvents music and fashion. Styles change but the basic facts remain the same. If you are a seasoned professional, please consider the following a refresher course. To the new comer, use this information as a foundation for your ongoing jewelry education.

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Advice You - May is Gold Month: Important Tips for Capitalizing on Gold Month Promotions

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