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Very often I see small business issues with over budgeting in their marketing dolla

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

r, as they believe the more they spend more money and customers automatically come

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

Examples of combination products may in

n. However this is not necessarily the case. It is important of course to spend an

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

commit marketing dollars if you plan to achieve your goals and objectives in your

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

arketing campaign and run a successful business, but simply spending the money does

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

Combination pro

not necessarily mean you will win.

As a founder of a franchising system in 23 stat

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

s, 450 cities and over 110 major markets I learned quite quickly that I had to watc

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

my franchisees and prevent them from overspending on their marketing budget dollar

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

. All too often they would over spend and run into financial trouble when they did

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 have to. Sure we could correct this easy enough, but what if were not paying at

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

ention? What if that was someone else’s small business with no one to watch over th

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

Following aspects would a

m or help them with their marketing allocations?

Having watched this scenario play

dd to the challenges in developing combination products:

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

out time and time again with our franchisee’s customers and our franchisees themsel

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

es we finally put together a plan that would make sure that our franchisees would n

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

t over budget their marketing dollars, but would rather spend their dollars in mult

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

ple different mediums, media and methods to achieve the desired results.

And as we

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

Professional from academic institutions, pharmaceutical industries, health care indust

got better and better at it we found that it did not cost as much money as we thoug

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

t. In other words it is not how much money you budget it is how efficiently you us

.

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

your marketing dollars to achieve your goals and objectives. I hope you can under

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

Companies that provide selfless information through particip

tand how important this is and I sincerely hope that you will consider this in 2006

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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How much should you be paying your ad agency? What are you paying for? What is a fair deal? Many think that they are only paying for that piece of advertisement or poster, the artwork. That would be very far from the truth.

In this day and age of fast paced business and advancing technology, we are most times too quick to move onto the next thing before appreciating our own Accomplishments. This is a simple yet often overlooked tool for success.

Learn to locate and overcome the constraints that limit your organisation's performance. This article approaches business process improvement from the perspective of the Theory of Constraints.

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