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All of us in the business world understand the importance of marketing. It is a strategy to get your product or service known to a target market. It is done i

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

n an effort to increase sales and generate revenue. However, many small businesses get caught in a catch 22. They don’t have money to advertise and market the

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

Examples of combination products may in

r business, so they aren’t able to generate more sales and revenue. Since they aren’t able to increase revenue, they continue not to have money to invest in m

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

rketing strategies. Yet consumers can’t purchase products they don’t know about.

Don’t let the myth that big budget marketing strategies are going to generat

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

more business. The focus should be on the quality of the advertising rather than the cost of it. While having a limited budget for marketing can be intimidat

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

Combination pro

ng, you can still make it work for your business if you have a plan.

Creative marketing

There are creative ways to market your business on

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

very tight budget. Setting up a website is relatively easy and fast to complete. This is a great place to start advertising your business with very little in

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

vestment. Create an electronic newsletter to share information with former, current, and potential customers. Create a blog, and write on it daily. You should

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

write articles about your business and post them online in article directories. Make sure to include links back to your own website. The number of people this

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

sort of advertising on the internet can reach is phenomenal.

Keep in touch with email

Make sure you have an email account set up for those

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

ho want more information on your product or have particular questions. This email needs to be checked several times daily. Potential customers may lose intere

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

Following aspects would a

t in your product if they don’t get a prompt reply to their email.

The power of word of mouth advertising

Word of mouth is also a great mar

dd to the challenges in developing combination products:

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

eting method. While it doesn’t reach as many people as quickly as other advertising methods, it costs you absolutely nothing. Low budgeting for marketing does

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

’t have to mean low impact if you are able to reach the target market.

If possible, consider taking out marketing in trade. It might be possible for you to g

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

et a reputable marketing company to represent your business. In return, you will provide that marketing company with goods or services from your business. No

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

oney will be exchanged.

Networking

Another great idea is to network as much as possible. Business cards are a very inexpensive way of marke

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

Professional from academic institutions, pharmaceutical industries, health care indust

ing your business. Attend trade shows and conferences where individuals who are in the market for your product will attend. It might also be a good idea to lo

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

k into setting up booths as these trade shows to further promote your business.

Take whatever funding you possibly can and put it into fast marketing prospec

.

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

s that will generate some customers for your business. These strategies include a radio ad, a unique brochure, or a business newsletter. Since the average con

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

Companies that provide selfless information through particip

umer needs to hear and ad seven times before they make a decision to make a purchase. Using multiple marketing avenues will also help you to reach more people

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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