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Just Other Articles - Marketing - Do People Really Care How Long You've Been in Business?
Some marketing consultant talk about how you should always stress benefits, and nev 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 talk about features … and how you should always focus on the customer, and never ; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug. Examples of combination products may in on the company. But is that always true? Of course not. For instance, the number lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together. of years you’ve been in business is a feature – a fact about the company. Yet prosp here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe cts care how long you’ve been in business -- and your longevity can help close the d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations. Combination pro sale. Why? Because in this world of fleeting connections and instant “YouTube car 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 eers,” experience and seniority counts a lot more than you can imagine. According 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 o a recent NBC poll quoted by the copywriting guru Bob Bly, more than 70% of Americ nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically ans are losing their trust in business. And as bad as that may sound for most busin 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 esses, companies that have been around a long time, with a track record of success, ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi “are suddenly at a tremendous advantage,” says Stephen G. Fossler of Stephen Fossle ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it. Following aspects would a r Company, a printer specializing in corporate anniversary seals. “Your years of c dd to the challenges in developing combination products: Which markets to tap where the combination products can do fairly well? Which combination prod ustomer satisfaction act to build trust in your company and give people a good reas cts are meaningful and rational? Which therapeutic categories to select? Which Combinations can address unmet needs of the patients? Do combin on to do business with you,” Fossler explains. If you've been long enough in any b tions increase the patient compliance? What would be the developing cost? How to tackle the risks encountered during combination product developmen siness, I'd say there is no harm in letting people know about it without going over 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 board. I, for example, always briefly mention to my prospective clients that I've ping new procedures for reviewing their safety, efficacy and quality. Professional from academic institutions, pharmaceutical industries, health care indust been a writer for over 20 years, since 1985, and I've been involved in many differe y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products t writing projects from screenwriting to newspaper reporting. That information usu . 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 ally establishes an initial sense of trust and opens up new venues that would proba elopment. They need to be wiser in analyzing the market trends and the regulatory requirements. Companies that provide selfless information through particip bly not be available to me if I were a journeyman writer just fresh off the college 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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