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Networking is, without a doubt, one of the best and most cost-effective marketing strategies to build long-term relationships with prospects and referrers.

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

With remarkable networking, you also build a powerful sales force that will work tirelessly for you to spread the word about your business and services. T

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

Examples of combination products may in

eir referrals hold more weight than you might know.

Remember, EVERYONE you speak with is a potential client, referrer, center of influence, or joint proje

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

t partner. Once you start viewing each person you meet as one of these assets, it becomes easier and easier to talk. Don’t be shy – speak from your heart a

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

out what you do. It’s what you believe in, so speak with passion. Get out there and TOOT your horn! Why keep yourself a secret?

Here are several things yo

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

Combination pro

can do to stay in front of your prospects:

1. Go to Targeted Events: Join associations and groups where you can rub elbows with your prospects in large n

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

umbers. Attend these regularly. Plug meeting times into your calendar for the entire year. You have to show up to networking groups consistently and persis

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

ently to build relationships. Keep in mind that you are building relationships with clients for the long haul. People are mulling it over. Just keep remind

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

ng them how remarkable you are, and eventually they will do business with you or refer an associate.

2. Ask for Business Cards: A lot of people think thei

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

objective is to pass out business cards like mad. So, they run around an event, throwing their cards in front of people and sprinting onward to the next t

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

ble. A much more effective – and enjoyable – approach to networking is to ask other people for their cards. Business cards are connections to people, and n

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

Following aspects would a

etworking is about building relationships. If you end up with 5 cards from people you really connected with, you are better off than handing your card to 2

dd to the challenges in developing combination products:

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

people who probably threw it away anyway.

3. Make an Impact: When you are asked, “So, what do you do?” make an impact. Develop a unique marketing message

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

that explains the solutions you offer to your target audience. Remember, this person may be a potential client or might refer your next DREAM client.

4. T

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

ke Notes: When you return to your table or during the next break, write a note on the back of the business cards you just collected to cue you about the co

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

versation. This will help you remember more about the person later.

5. Follow Up: Make sure to send people you met a friendly e-mail. You can use the note

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

Professional from academic institutions, pharmaceutical industries, health care indust

s on the back of their business cards to add a personal touch to each e-mail you send. If appropriate, a phone call or a hand-written note is an even bette

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

touch. Then, continue to keep in touch in the future.

Networking events can be an amazing addition to your marketing repertoire. Make sure you are levera

.

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

ing them to their FULL potential. By following the tips above, you will fill your contact database with amazing people, and you’ll be astounded by the adde

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

Companies that provide selfless information through particip

impact these powerful relationships will bring you. Some may be new clients, and some may be your best source of referrals.

Copyright 2006 Marketing Mave

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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Are you considering the possibility of opening a dollar store? If so, then learn everything possible from your competitors. Spend a little time examining the competition before, during and after you conduct your grand opening event. Visit direct competitors as well as stores that will overlap with your store for customers.

Be it any area or any sphere of life management is the key to success. Management of simple things such as your day-to-day activities etc. might not require much consideration but lot of planning is to be done when it comes to managing assets.

Thinking of implementing Lean Six Sigma in your organization? This article gets down to basics and gives you everything you need to know.

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