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Is your business bombarded by sales and other marketing professionals telling you that the products or services they are offering are in the best interest of effective and cost reduci

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

ng methods to market your organization? Finding your way through the maze of offers, opportunities and avoiding potential money pits highlights the importance for all businesses rega

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

Examples of combination products may in

dless of size to have a strategic marketing plan that is implemented and followed.

It is a tough market place for any small business and information is the key to making wise marketi

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

g decisions and for the survival of any business or organization. The relevance of a strategic marketing plan can not be under stated. It is unfortunate but all to common that people

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

under the disguise of professionals in marketing and sales will boast their products and services as the most effective and cost reducing methods to market your business. Additionally

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

Combination pro

by writing articles or giving lectures for example, they attempt to give their claims a form of legitimacy. Beware of people making extraordinary claims, a true professional wants t

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

o sell you their product or service but also retains the integrity to learn your business and knows when the product or service is not a good fit. The benefit for this type of sales

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

r marketing professional is your loyalty and trust in future business transactions.

A strategic marketing plan helps a business to avoid potential money pits that waste valuable mark

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

ting dollars in expenditures that may appear to cost less but have minimal or no measurable results. Simply because something may cost less and other businesses are participating doe

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

not make it a solid marketing decision for your organization and certainly does not guarantee successful results. Regardless of the ticket price if it does not produce measurable re

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

ults and drive business to your establishment it is a money pit.

There are many good examples on the internet of people under the disguise of professionals boasting their products or

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

Following aspects would a

services as sound marketing advice. One of these claims is that a business could inexpensively build brand recognition through the purchase of low cost promotional items with the or

dd to the challenges in developing combination products:

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

anizations name or logo embossed on them; items such as pens, tablets, calendars, magnets, and much more. The problem is that this technique offers minimal to no measurable success i

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

brand building, but more importantly does nothing to draw new customers into the business.

In terms of simple math, if an advertising business were to spend the same money that woul

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

be spent on embossed promotional items in traditional media channels such as print, radio, or television for example with an expected 2% rate of return and a minimal exposure of 12,0

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

0 individuals gives the advertising business the opportunity for 240 customers for that expenditure. If only 30% of the 2% actually make a purchase that provides the business with 72

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

Professional from academic institutions, pharmaceutical industries, health care indust

new transactions. A business can multiply its average transaction price by 72 to see the real potential income from this one marketing expenditure. Another benefit is brand awarene

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

s that would be gained through the advertisement and the opportunity to build customers for life. Furthermore, to entice repeat business and brand loyalty the organization can offer

.

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

ts customers coupons. This method promotes customer appreciation and can be a low cost marketing method.

Moreover, with any marketing expenditure a business should always perform a c

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

Companies that provide selfless information through particip

st benefit analysis in correlation with its strategic marketing plan. Simply, if it does not offer measurable results, drive new business, and build brand awareness it is a money pit

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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Imagine the horses all lined up at the gate in the last Kentucky Derby. Successful businessmen-women are just like thoroughbred horses. They must practice, run like the wind and sometimes be driven to make it first through the line. Like a horse race the majorities are losers and only a few are Triple Crown winners.

Change Management situations can occur anywhere and sometimes they create situations that are so serious that they indeed could threaten national security. For instance take an upper management change in the public sector such as within the top ranks of the computer and cyber security division of Department of Homeland Security for instance.

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