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How much time, money and effort does it take to win a new customer? For most bus

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

inesses, if they can quantify what it costs to acquire a new client, it's consid

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

Examples of combination products may in

rable.

You have to advertise, make contact, try and set an appointment, visit,

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

act-find, draw up a proposal, make a presentation then try to close. Phew, tirin

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

just thinking about all of that! And of course you don't win every job you pitc

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

Combination pro

on, many times all that effort produces no direct payback.

Now consider how mu

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

ch easier it is dealing with an existing customer. You can get through the 'secr

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

tary barrier' and speak to your client without difficulty. If they were happy wi

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

h the work you have done so far, they'll be receptive to your next proposal. Whe

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

you have discussions, they will be more frank because they trust you. You are i

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

a good situation to suggest add-ons and price is less of an issue than it was i

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

Following aspects would a

nitally because they are confident that your work is good.

Contrast that with h

dd to the challenges in developing combination products:

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

w hard it is getting through to a new prospect and you can see that life is much

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

simpler if you have a stable of happy, repeat customers.

How do we get to this

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

leasant situation? The key is to never disappoint your customer - no nasty surpr

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

ses. If you promise something, do it. Excuses are poison. If a situation arises

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

Professional from academic institutions, pharmaceutical industries, health care indust

when you can't deliver, tell the customer up-front, so he can adjust his plans.

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

nd stay in touch, no one likes to be neglected.

Satisfied customers become extr

.

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

mely loyal; when a competitor tries to take your business, your customer will sa

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

Companies that provide selfless information through particip

, 'We already have a good supplier'. And they will spread the word about you too

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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In Part Two of My Marketing Plan is Complete -- Am I Missing Something? You learn the remaining nine essential elements of a successful Marketing Plan.

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