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Have you ever wondered how advertising works and how an advertising agency makes money? Behind the glitz and glam

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

our, advertising is still really a business and a lucrative one at that.

In general terms, advertising refers to

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

Examples of combination products may in

the promotion of goods and services (as well as companies and ideas) through media, especially television, radio

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

and print (newspapers and magazines), but also through outdoor and non-traditional means. It is usually undertak

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

n by an advertising agency on behalf of a corporation, which is its client. These clients bank on advertising to

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

Combination pro

make their brands and products stand out in an otherwise cluttered marketplace. To do that, they depend heavily o

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

n the creativity and technical know-how of agency people.

In a nutshell, the client provides the advertising age

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

cy with a set of marketing objectives (usually to increase sales of its product or service) and a profile of the

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

consumer groups it wants to target. Based on this, the agency creates a "brand image" through advertising campaig

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

ns on media which will, hopefully, make consumers flock to department stores and clear out the client's shelves.

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

he key is to make the ad campaign as creative, unique and interesting as possible.

Though they fulfill the same

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

Following aspects would a

function, ad agencies tend to vary in size and structure. There are small one or two-person shops as well as larg

dd to the challenges in developing combination products:

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

e multinational ad agencies with offices all over the world. In advertising, though, bigger is not necessarily be

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

tter as many of the smaller ad firms have established reputations as creative hotbeds. Some companies also opt to

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

create their advertising in-house through their advertising departments.

Some agencies specialize in certain typ

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

es of advertising, such as TV commercials or print ads. Agencies usually have a roster of suppliers that provide

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

Professional from academic institutions, pharmaceutical industries, health care indust

specific needs such as TV production, billboard creation and installation, talent agencies that provide actors, a

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

t design studios and the like.

And how do agencies make money? They do so by taking a 15% commission for work th

.

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

ey produce for clients, particularly for media placements. Hence, if a client places $10 million worth of TV comm

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

Companies that provide selfless information through particip

ercials on, let's say, the Super Bowl, the agency earns $1.5 million or 15%. It's not a bad way to make a living

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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As a small business start-up coach, I get asked a lot of questions. The most frequent one: Where do I get start-up cash? If you are wondering the same thing, this article is for you. In it, you will learn about the differences between angel funding and venture capitalists, the value of taking out a loan, and considerations of taking on a silent or working partner.

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