Advice You - Internet and Businesses Online

Online commerce is the way of the future, expand your market place, increase sales, work less, increase your revenue, etc. Really, but at what cost and what do you need to know to get started?

Many businesses are weighing the costs of moving into the online space now that barriers to entry are low

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

er than ever, but to determine the specific solution that meets your business needs is not as easy as comparing prices.

In order to differentiate the common strategies that you may apply to sell your “widget” online, let’s take a look at three main ecommerce solutions on the market, and then ask some key

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

Examples of combination products may in

questions that will better facilitate your decision.

1.) Amazon.com/E-Bay/MSN Shopping as an eCommerce Solution

With this means of e-commerce there is really no true e-commerce or shopping cart development that goes on. To bring your widget online you would simply create an account on one of the

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

various web sites that are out there and begin selling products.

Pros

Easy to implement
May have products on the web within an hour
Very low cost, great for out-of-home business

Cons

Minimal flexibility
Usually transaction based, or require a percent

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

age of sales

No automated integration into any back end systems

No options for product configuration

2.) Templated eCommerce Solutions

Templated ecommerce platforms are generally “packaged” sites that are very quickly setup and launched. To summarize the process:

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

Combination pro

>A business will purchase, or lease via a monthly contract the e-commerce solution.

Customize their web site by selecting from several templates modifying it with a color scheme

Add content to their new web site by way of a technology called content management.

Content Manag

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

ement allows non-coders, the ability to update and modify the content of a web site. These solutions meet the typical needs of a business, but tend to fall short when customization is necessary.

Pros

Easy to implement with little required development.
Getting a site up and running is not

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

as fast as a pre-built solution, but much more rapid than a custom developed solution

Is comparatively inexpensive.

Provides branding not available in pre-built solution

Great for small businesses entering the online space for the 1st time.

Cons

Minimal fl

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

exibility

Cost may, or may not include graphic development of the site

Integration with business processes is lacking

No options for product configuration

Sometimes transaction based, or require a percentage of sales

Difficult to optimize for search engines

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

3.) Custom Developed Solutions

Custom developed solutions are exactly what their name implies. The user interface of the web site, product catalog and check out process are all custom-developed to meet specific needs. The look and feel of the web site is typically original, utilizing graphics 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 are targeted to a specific market or customer.

The key reasons for looking at a custom developed e-commerce solution are to support a business process that your company may have which cannot be completed with a templated design. (i.e. integrating back office systems such as accounting, ERP, or fulfillm

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

Following aspects would a

ent applications), or to support some level of service during the check out process like a custom product configuration.

Pros

The site is developed to your specific business requirements
Custom features or applications may be added to the site at any point in the future, providing growth
dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod
i>
Integration capabilities are limited only by the ability of your developer
Site may be optimized for Search Engines, (SEO)
All forms of shipping, handling and fulfillment are options to integrate
Virtually unlimited number of products and categories may be supported
Y

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

our site will have a unique look and feel tailored to your business

Great for established ecommerce providers, and large businesses looking to go online

Cons

Typically more expensive
Longer development times
Require more active involvement from you.

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

l>

Questions that will help you target the right ecommerce solution for your business:

Will my business survive if the web site is unsuccessful?
Do I have back office applications that need to be integrated into the web site? For instance, accounting systems, inventory management or ERP

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

systems, Point of Sales Systems, etc.

Do I need custom shipping integration?

How important is search engine optimization?

How will I administer the e-commerce application? For instance, how easy is it to add, edit, or delete products and how do I view the business that the web

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

Professional from academic institutions, pharmaceutical industries, health care indust

site is doing?

How will I differentiate my site from my competitors?

Does my business currently have the expertise to manage the e-commerce solution, do I need to hire someone, or will I totally outsource the management of the web site?

If I chose to manage the e-commerce soluti

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

on by myself, where and how will I host the application?

What is the ongoing maintenance going to cost?

How reliable is my developer/web host?

Does my business sell to consumers, other businesses, both?

Does the look and feel of my web site meet my customer’s needs? A

.

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

quick example of this is if you are selling to consumers you typically need a more attractive and easy to use site, if to businesses a utilitarian interface may be more critical, as they typically want to complete their order as quickly as possible.

This is the first in a series of articles des

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

Companies that provide selfless information through particip

igned to help you understand what is involved in bringing your business on line. The purpose of these articles is to take the complexity of the e-commerce marketplace and break it down into easy to understand articles.

Questions or comments on this article may be sent to Mike at mpowell@objectwareinc.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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Nothing stops a business or businessperson faster than fear of looking foolish or making a mistake. Winners embrace the concept that mistakes are good.

Successful solo entrepreneurs spend quite a bit of time building and expanding their networks. We may meet face to face, over the telephone or online. We exchange pleasantries, information, referrals or resources and in doing so, strengthen the bonds with individuals and the whole organization. What is not quite as common in our exchanges is the use of a personal or business success story.

There is no such thing as get rich quick in online marketing. That only happens to people that play the lottery and win. It is a struggle and it is actually work, no matter how many ads you see that say make quick, easy money. Find out what it really takes to start succeeding in the business.

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