Just Other Articles

Marketing and sales organizations regularly face the unenviable task of selecting the best corporate gifts and premiums in their attempt to c

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

onvert prospects and retain valuable customers.

One of the most important things we’ve learned is that the specific product a company choose

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

Examples of combination products may in

s to offer as part of a campaign can have a very long term impact in reinforcing its brand and building customer loyalty. Selection of premiu

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

ms and incentives should be viewed with a strategic, long-term view, reinforcing the message a company wants to send to its target audience.

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

Based on almost two decades of helping clients plan and execute high-impact premium and promotional campaigns, I’d like to share a few simpl

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

Combination pro

e tips that marketers and promotions’ managers should consider in choosing the right products to meet their key objectives.

• Novel/ Inno

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

vative: Can one find a product that is very new and unique, which only a precious few (if any) have had a chance to lay their hands on? N

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

t only does a novel product create a strong impression on the recipient, but it also could create high-impact buzz and even trigger an effect

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

ive word-of-mouth campaign about the company.

• Utility/ Usefulness: There’s nothing like combining desirability with utility, becaus

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

e the more useful a product is, the more indispensable it becomes. Each time the product is used, it is a constant reminder who the giver of

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

that extremely useful gift is; now imagine one’s logo or promotional message on that product and the reinforcing effect it will have on the r

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

Following aspects would a

ecipient.

• Perception of value: The perception of value of a gift greatly plays itself in the subconscious of a recipient. Higher th

dd to the challenges in developing combination products:

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

e perceived value of a product, greater the importance the recipient feels. We all know how crucial it is to make a customer feel important;

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

imagine succeeding in doing that.

• Durability: Find products that are durable and have a significantly longer lifespan; don’t miss o

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

t on the opportunity to be in front of the target customer for a much longer period. There is enormous value in the long-term "advertising" o

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

ffered by a product than some of the more traditional means of advertising, which are often extremely time bound.

• Taste/ Quality: A

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

Professional from academic institutions, pharmaceutical industries, health care indust

premium offered is much more than an incentive for a prospect to become a customer; it can be a very powerful statement about the company an

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

d its brand. Recipients form strong opinions of a company by the quality of the products it gives out as corporate gifts & premiums. If the p

.

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

remium reflects good taste, thought, and quality- so will the company be perceived. Think and plan long term; careful product consideration w

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

Companies that provide selfless information through particip

ill avoid negative perceptions and will only reinforce the chosen image that today’s business environment requires that we so carefully craft

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.justotherarticles.org.ua/article/27144/justotherarticles-Best-Practices-To-Maximize-Premium-And-Incentive-Return-On-Objective.html">Best Practices To Maximize Premium And Incentive Return On Objective</a>

BB link (for phorums):
[url=http://www.justotherarticles.org.ua/article/27144/justotherarticles-Best-Practices-To-Maximize-Premium-And-Incentive-Return-On-Objective.html]Best Practices To Maximize Premium And Incentive Return On Objective[/url]

If you're planning to start a company in Australia, here's an overview of the steps involved in getting your company registered with the appropriate government bodies.

You're completely baffled by your performance review - but your boss refuses to explain what you did wrong. What can you do?

Stop the revolving door of employee turnover: Employee assessment tools have advanced so companies can now more effectively identify, select, and retain top performing employees

Tags

Links

Just Other Articles - Best Practices To Maximize Premium And Incentive Return On Objective

Related Articles: