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To go to a trade show, or not to go? If you’ve never gone to a trade show before, it can seem a little overwhelming. You’ll have to arrange a booth, get handouts together, figure out a way to attract people, organise salespeople

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

and decide on which products or services to feature, create a presentation that will generate interest…the work seems never-ending. But a trade show is worth every minute of the extra effort. If you’ve been considering whether or

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

Examples of combination products may in

not to exhibit at a trade show this year, here are seven reasons why you should go for it.

Get a feel for your competition. At most trade shows, you’ll be competing for customer attention with lots of other businesses in your in

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

dustry. This can be off-putting for some—but it’s actually a key benefit of trade shows. At a trade show, you’ll get a chance to scope out the competition, meet the people you’re sharing your market with, and see what they’re doi

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

ng right—and how you can improve upon it. A trade show is the easiest and most convenient way possible to get an idea of who is competing for your customers.

Get to know your customers. At a trade show, you’ll meet interested pe

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

Combination pro

ople face-to-face. Pay attention to who comes to your booth. Mostly women or men? Mostly a certain age? Mostly a certain profession? There may be a demographic with an interest in your product or service that you never realized w

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

as there. Ask questions of the people who come to visit your booth, too. Ask them what they look for in a product or service like yours. Develop a marketing survey and offer a free gift for completion. You never know what your

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

customers can teach you—so don’t hesitate to learn from them.

Make a one-on-one impression. It’s a fact that one in ten people you call will buy from you—but one in three people you meet face-to-face will. Making a one-on-one im

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

pression on your customers is crucial to drumming up new business. You’ll give them a friendly face to match with the company name. If you’ve got good people skills—or your salespeople do—your company won’t represent just a name

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

and a logo to them, but a new friend.

Get a high return on your investment. Studies show that almost half of the leads generated at trade shows don’t need a sales call to close a deal. Trade shows give you a great return on your

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

investment, because many of the people you meet at one will buy. Put a little thought into your display and come up with a gimmick to attract people to your booth—free giveaways, demonstrations, food, etc.—and you’ll probably gen

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

Following aspects would a

erate more hot leads than you usually do in a month’s worth of sales calls.

Meet a pre-selected audience. The people you meet at a trade-show come because they are interested in your business. They’re interested enough to take a

dd to the challenges in developing combination products:

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

day off work, sacrifice a weekend, or travel hours out of their way to see what’s new in the industry. You couldn’t ask for a finer pre-selected audience. With so many people clamouring to learn more about what you sell, there’s

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

a high chance you’ll make a fine return on your investment at a trade show.

Have the customers come to you. A lot goes into preparing for a trade show—but it’s actually a great way to save money. Usually, you might attract new

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

business by making time-consuming cold calls, putting together an expensive direct mailing, or advertising on TV or the radio. At a trade show, the customers come to you—sometimes in droves. You’ll get in front of lots of people

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

at relatively minor expense, compared to your ordinary advertising and marketing costs. It’s a cost-efficient way of getting in front of the most people—at the least expense.

Generate lots of qualified leads. At a trade show, yo

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

Professional from academic institutions, pharmaceutical industries, health care indust

u’ll meet a lot of people ready and willing to buy. Usually, you’d generate qualified leads by cold-calling, networking, and working hard to generate interest. At a trade show, those leads will seek you out. Have applications pr

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

epared for people to order, and have information available and ready for those who ask for it. If your trade show goes well, you’ll generate more qualified leads in a day than you ordinarily would in months.

There’s no question t

.

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

hat a trade show is worth the time and effort it takes to put together a good booth and presentation. If you’re just getting started, going to a trade show could take your business to the next level. You’ll get to meet lots of pe

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

Companies that provide selfless information through particip

ople who are interested in your business. And you’ll get to check out the competition at the same time. What’s to lose? If you’ve never taken your business to a trade show before, consider this year as the time to make it happen

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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Teams face this situation all the time. Who is accountable for actions once the meeting has ended? Below are four simple steps to solve the accountability problem in your meetings.

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