Advice Pool - Business

Draw a square on a piece of paper. Now divide that square into 9 equal squares by drawing two lines down and two lines

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

across. How many squares do you see?

Did you say 14? Correct. If not, looker harder.

The 9 square mind teaser is a we

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

Examples of combination products may in

ll-worn example of how motivation speakers explain the concept of lateral thinking. In other words, looking beyond what

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 eye first sees. Looking more intelligently.

This is the formula for Small Business to survive in the jungle of sh

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

opkeeping where customers are daily bombarded with give-aways, special attractions and numerous other shopping incentiv

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

Combination pro

es.

Small shop owners need to find ways of offsetting the power of the big players in the market. While the mega store

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

s may have the clout of major purchasing and selling economies of scale, customers are not always impressed with the im

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

personal nature of shopping at some of the big stores.

In a giant shopping world where personal service appears to be

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

disappearing, more and more customers are demanding it. They want assistance from trained shopkeepers. They need advice

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

about what to buy. Help in understanding more about the product they wish to purchase. And in many cases, with open se

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

ling crowding aisle after aisle, they are simply confused.

Smaller operators can handsomely cash in on this sprawling

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

Following aspects would a

shopping pattern by taking special care of each customer.

No better way than to build a database and send your custome

dd to the challenges in developing combination products:

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

rs Newsletters. But make sure you fill the Newsletter with information that is important for the customer. Something th

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

at will motivate them to buy. Remember, a Newsletter is not a Shmoozeletter.

Give your customers advance notice of an

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

impending event, such as a Sale. Customers like to feel special and to be offered preferential treatment.

Make sure af

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

ter making a sale you close with a friendly remark of appreciation for making the purchase and in the event of an incor

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

Professional from academic institutions, pharmaceutical industries, health care indust

rect purchase, an exchange is welcome in your store.

Depending on the nature of your business there are so many ways y

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

ou can suggest individual benefits to your customers.

Small Business can readily compete with Big Business by identify

.

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

ing its place in a market and catering directly to that segment. If individual customer service is the critical point t

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

Companies that provide selfless information through particip

hat makes your business different from the opposition, focus strongly on it. Customers will respond if you get it right

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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