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As the famous joke goes, nothing in life is certain, but death and taxes. However, even though all of us have to pay taxes, I have nev

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

er met a tax accountant who says that "everyone" is a client. Rather, tax accountants focus on different market niches. Some work with

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

Examples of combination products may in

small businesses, some work with corporations, and some concentrate exclusively on high net worth clients.

However, I have seen seve

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

ral people claim that everyone is their target market. Not so. I always tell my clients that three conditions have to be met for someo

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

e to be your potential client - they need your services/products, want your services/products, and are able to afford them.

Unless yo

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

Combination pro

ur potential clients meet all of the conditions above, you will not be able to convert potential clients into actual clients. It is no

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

t wise for company that sells upscale vacations in the South of France to target college students. While they may indeed want to go to

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

the South of France for a spring break, most college students cannot afford it (trust fund beneficiaries excepted). On the other hand,

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

a company that sells value priced Florida vacations will do better with the same target market.

At the same time, results would be l

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

ess than stellar if the company that sells cheap Florida vacations tried to market these to the higher-end market. While people in the

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

upscale market can certainly afford a cheap Florida vacation, they probably do not want them.

Here are a few ideas for locating a new

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

Following aspects would a

target market for your business or segmenting a current one:

* Think about your past clients. Do they have a particular characterist

dd to the challenges in developing combination products:

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

ic in common? Maybe they live in the same area, are members of the same profession, have similar income levels, etc. Do you see a patt

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

ern?

* Does the group need your services or products? Even if someone can afford your services and you think that they positively can

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

t live without them, do they actually need them?

* Does the target market want your services and products? While they might need them

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

, they have to want them as well. Think about a child who needs to eat broccoli. The need is there, but the desire is not. This applie

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

Professional from academic institutions, pharmaceutical industries, health care indust

s to your clients as well. Even if several impartial observers agreed that your target market needed your services, your clients will

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

ot buy unless they actively want your services.

* The target market has to be able to afford your offerings. If they can't afford the

.

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

m, you are wasting your time marketing to this target market. See the vacation example above for an (almost) real life illustration.

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

Companies that provide selfless information through particip

Make sure you know what your target market is. You will market more effectively and create a win-win scenario for you and your clients

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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Unemployment can be so emotionally devastating and carries so little positive feedback until you get that one great offer. Giving ourselves little perks along the way, rather than waiting for the final payoff, keeps us more balanced, relaxed, and motivated. Just think: would you continue to play a slot machine with a million dollar jackpot if you didn't get lots of little payoffs along the way?

Customer Service departments are often treated as a necessary evil. However, with the implementation of a simple tool, your Customer Service staff can become your corporate Early Warning system. This information can then be used to make corrections to your products or services before they become a large scale problem for your company.

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