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Just Other Articles - Thank Your Current Customers and Grow Your Bottom Line
Your customers are pretty vital to your business, right? Do you thank them? Think about it. We teac 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 h our children to say "thank you" every time they receive something. We don’t even have to tell our ; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug. Examples of combination products may in children the words to say. We just prompt them with, "what do you say?" It’s that obvious. Our soc lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together. iety is conditioned to offer thanks when given something. But in business we often forget to thank here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe the very people who make our success possible. Thanking your customers can be a wonderful way to d d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations. Combination pro ifferentiate your business from the competition. More often than not your competition does not than 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 k its customers. Thanking your customers can build loyalty to your business and increase the word o 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 mouth marketing done on your company’s behalf. Thanking your customers puts your company in the fr nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically ont of their minds -- a prime piece of real estate for your company to reside.
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 r customers after they make a purchase.
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi purchase in awhile (obviously you will thank them for the prior purchase they did make and hopeful ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it. Following aspects would a ly give them the reminder they need to purchase again).
dd to the challenges in developing combination products: Which markets to tap where the combination products can do fairly well? Which combination prod e them with free information that might be important to them.
cts are meaningful and rational? Which therapeutic categories to select? Which Combinations can address unmet needs of the patients? Do combin ask them for their opinions.
tions increase the patient compliance? What would be the developing cost? How to tackle the risks encountered during combination product developmen hank your customers and ask them for referrals. Have you ever received a thank you not 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 e from your dentist? Maybe you haven’t. But if you were to receive one, your dentist might also men ping new procedures for reviewing their safety, efficacy and quality. Professional from academic institutions, pharmaceutical industries, health care indust tion other services she offers such as teeth whitening and invisible braces. The note might also pr y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products ompt you to go for a checkup more frequently than you would otherwise. Not convinced yet? Imagine . 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 how powerful it would be to receive a hand-written thank you note from the manager of the supermar elopment. They need to be wiser in analyzing the market trends and the regulatory requirements. Companies that provide selfless information through particip ket where you shop or the hotel where you stayed on vacation. Unexpected? Yes. Effective? You bet 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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