Advice Pool - Business

This is probably one of the most easiest, quickest and most profitable techniques t

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

hat business people have at their disposal yet it is rarely used.

Let me explain w

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

Examples of combination products may in

at upselling is. Upselling is basically offering the customer more at the point of

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

ale

Let me give you some simple examples of upselling in the real world.

Say you

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

run a small website design company and you have a person on the phone ready to orde

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

Combination pro

a simple 3 page website which cost ?200. While you’re talking to the person you co

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

ld offer them an extra website page plus 5 extra email addresses for an additional

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

price of ?50. The normal price for this package is ?300. You tell them you are offe

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

ing this because you wish to thank them for using your company and this offer is on

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

y available right now.

Let’s do some figures now…

Before you used your upselling

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

ou had 100 people purchase your 3 page site at ?200.

100 x ?200 = ?20,000 = ?5,000

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

Following aspects would a

Profit (25%)

Total profit = ?5,000

Now because the upselling offer only costs an

dd to the challenges in developing combination products:

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

extra ?10 to set-up you make the remaining ?40 in pure profit!

Let’s say 30% take

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

our upselling offer…

70 x ?200 = ?14,000 = ?3,500 Profit (25%)

30 x ?250 = ?7,500

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

= ?2,700 Profit (36%)

Total profit = ?6,200

So with a simple upselling offer you

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

could add an extra ?1,200 profit for every 100 clients you sell to! That’s an incre

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

Professional from academic institutions, pharmaceutical industries, health care indust

se of 24% which was virtual effortless!

Things to remember

· Always tell the cons

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

umer why you are offering this special price and clearly & passionately explain the

.

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

benefits for taking this offer.
· Tell the consumer that this is a limit offer

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

Companies that provide selfless information through particip

only available right now! This will create a sense of urgency in the consumers mind

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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The owners of any business, irrespective of the size, can benefit from incorporating. With the Tax Reform Act of 1986, the S Corporation became a highly desirable entity for corporate tax purposes. An S Corporation is a special tax designation granted by the IRS to corporations. Many small business owners and entrepreneurs prefer S corporation because it combines many of the advantages of a sole proprietorship, partnership and the corporate forms of business structure. One person can form an S corporation, but is restricted to no more than 75 shareholders. The corporation must be formed in the United States and all shareholders must be individuals. The advantages of S corporations include limited personal liability, pass-through of losses, no corporate taxes and no shareholder FICA tax on net income.

Most job candidates fail to negotiate their compensation package. Your job search tends to be over once you receive your job offer. You could be leaving quite a bit of money on the table. This article explores the rationale behind negotiating your offer and the potential outcome this opportunity affords.

The idea of a customer reward program is to first get customers interested in your product. That is often achieved by introductory incentives. These incentives might be the lure of free car wash to the first fifty people to pump gas at the new gas station at the corner of East and Vine St. Or it could be a credit card promising not to charge interest on the new card for the first three months of activation. A publishing company might promise a huge raffle with the names of all first time subscribers. The incentive offered to real the customer in depends on the company, the type of product they are promoting, and the type of customer they are hoping to attract.

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