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Just Other Articles - Products that Sell: Five Secrets Every Inventor Should Know
1. The most successful products solve a problem. You may think you have a great idea, but if it doesn’t solve a real problem, then you’ll have a tough time generating interest. A good rule of thumb when brainstorming a new
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
idea is to look for the problem first. Find out where consumers are experiencing pain, and then find a way to relieve it.
• Example: If a manufacturer designed a special blend of potting soil that made it so people never
• Example: If a manufacturer designed a special blend of potting soil that made it so people never
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
had to water plants, the new potting soil would be solving a problem. People would no longer need to remember to water plants or spend time caring for them. On the flip side, if that same manufacturer designed a special b
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
lend of potting soil that was red instead of black, the manufacturer isn’t really solving a real problem as the color of potting soil does not present a problem to most consumers.
2. Products that are dependent on another
2. Products that are dependent on another
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
product are cumbersome. Innovation leads to change which leads to better products. Manufacturers are constantly improving their products to keep existing customers and attract new ones. If you create a product that depend
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
on another product or attaches to another product, you run the risk of becoming obsolete. Stand-alone products are generally more appealing and easier to market over the long run.
• Example: If you create an attachment t
• Example: If you create an attachment 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
hat fits on a lawnmower, your attachment will only work as long as the size and measurements of the lawnmower never change. So while you may have a good idea that solves a problem with that make and model of lawnmower, it’
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
s better to stick with a free-standing product that is self-supporting.
3. Sex appeal sells. Even when you’re talking about a hand saw. Consumers are attracted to products both for what they do and how they look. The more
3. Sex appeal sells. Even when you’re talking about a hand saw. Consumers are attracted to products both for what they do and how they look. The more
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
bells and whistles you have, the more appeal your product has. Plus, it needs to look sexy, too. Color and design play a big part in a product’s success. This is especially important if your product is not the first of it
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
s kind. You need to be able to differentiate yourself and stand apart from all the other choices available to consumers.
• Example: Anyone can make a shower head, but a shower head with 10 different settings and an adjust
• Example: Anyone can make a shower head, but a shower head with 10 different settings and an adjust
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
ble neck has more appeal and will typically sell better in the mass retail market. It doesn’t hurt if it comes in chrome, white and black, too.
4. Market research doesn’t have to be expensive. One of the most important as
4. Market research doesn’t have to be expensive. One of the most important as
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
pects of launching any new product or service, market research is often skipped or overlooked because people think it costs too much. But in reality you don’t have to pay exorbitant amounts of money to conduct good market
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
research. You don’t even need to hire a firm to do it for you. The best market research is often based on input from friends and family. After all, they are consumers, too.
• Example: Once you have an idea, talk to severa
• Example: Once you have an idea, talk to severa
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
l friends, family members and even co-workers about your product. Come up with a short questionnaire and ask them to honestly rate your idea. Ask them whether they think it solves a problem, if it’s appealing and if they’d
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
buy it. Tell them to critique your product idea as well – find out what it doesn’t solve and what they don’t like about it. Then make changes based on the majority opinion.
5. A test market is right in your backyard. Ano
5. A test market is right in your backyard. Ano
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
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
her common misconception is that you have to take on the big guns right away. Not so. Targeting small community retailers is a great way to gain valuable insight and sales experience that will build the foundation for mass
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
-market retail success later.
• Example: If you have designed a revolutionary new garden hoe, try approaching two or three locally owned hardware stores. Set up a meeting with the owner, and tell them you’d like to solici
• Example: If you have designed a revolutionary new garden hoe, try approaching two or three locally owned hardware stores. Set up a meeting with the owner, and tell them you’d like to solici
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
t their opinion about your new product. Bring along your prototype and a video demo of your product in action, and ask for feedback. The best outcome, obviously, would be if they agreed to sell a few of your products in th
.
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
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
eir store. But if nothing else, they will give you great advice on how to make your product better. Then, once you meet with a few owners, take their advice and make improvements to your prototype. Then come back and try a
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
gain! Don’t give up. Persistence pays off and will have you headed for success in no time.
To take your invention to the next level, visit http://www.GardenWeasel.com
To take your invention to the next level, visit http://www.GardenWeasel.com
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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