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Did you know that there are two types of referrals? Those that come on their own from doing a good job for your clients, and those that you need to generate with a referral marketing program. When you look to use referrals as your main sour

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

ce of leads, you must send your message to the audience that is likely to hear them and respond. This, of course is your target market. As obvious as this may sound, many marketers will network to the wrong audience. Remember those after-ho

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

Examples of combination products may in

r business network meetings? Nice people, but usually not our market.

I would like to introduce an opportunity to hit the WOMM! jackpot. What I call the Triple Play of Referrals. It is the new and upcoming business called Home Staging. W

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

at is Home Staging?

Today, when a homeowner wants to sell, some are hiring a "Home Stager". Home Staging is a design system of creating a "product" out of your home. Making it, in a sense, a "model" home. As any successful product, your ho

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 needs to appeal to as many of it’s' target market customers as possible. The goal is to make a good first impression, allowing the buyer to imagine themselves living in your home.

The idea is to de-personalize and remove the clutter from

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

Combination pro

your home. Additionally, a staged home should have great "curb appeal"! That is, looking good from the street in order to entice the buyer into the home. When a home is staged, it will feature each room at its best. You want to create a sho

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

case, so it can sell at the highest price and in the shortest time.

What Stagers do The initial staging consultation is conducted with a visit to the home. The Stager will walk through the home and take notes of its condition. Back at th

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

e office an "action plan" is written with suggestions on the work to be done before the staging can take place. Such work might be some packing photos and the collectibles, cleaning the closets and garage, and painting the worn areas. Once

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

uch work is complete, the staging of the home can take place. Staging might include rearranging or renting furniture, adding some accessories, or bringing in plants or flowers. Decorators are naturally suited to offering Home Staging since

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

t is a natural extension of their services. The costs to stage depends on the extent of the work, but it is a highly valued service since it can bring back several times the investment by getting a higher selling price. When to Stage?

Yo

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

will want to stage as soon as you decide to sell the home. With the help of a Realtor, you will have a "brokers' tour" and an "open house". A staged home will stand out among the other homes during these promotional events. By the way, it'

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

Following aspects would a

never too late to stage a home. It's good to point out, that if a home remains unsold for an extended period of time; it could earn a reputation of being "hard to sell". You should stage your home so that it will maximize the traffic and s

dd to the challenges in developing combination products:

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

ll quickly.

Marketing

Realtors love the concept of Home Staging. They are open to listening to your message about your new service. You should market your Home Staging service to Realtors. There are many reasons why Realtors will encourag

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

their clients to stage.

The number one reason is that a Staged Home sells faster and at a higher price then a home that is unstaged. A Staged Home looks great and photographs well. Realtors will have a competitive edge over other similarl

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

y priced homes. Sellers feel that their Realtor is demonstrating a real commitment to marketing their home. Finally, why sell a home in "as-is" condition, when you can sell a home that is ready to "move-in".

The Referral Triple Play

Why i

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

home staging a great source of leads? In this new and exciting business, you have an opportunity to make your business aware to three people of influence: the Realtor, the buyer and the seller.

Of all professions that can refer decorators

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

Professional from academic institutions, pharmaceutical industries, health care indust

it is the Realtor that has the greatest influence. It is all about being in the right place, at the right time when decorating decisions are about to be made. Then there is the seller, who would be your staging client. If you do a good sta

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

ing job, there is an opportunity to decorate her new home as well. Did you know that over 75% of sellers move within 10 miles of their former residence? Finally, there is the buyer. What a way to be introduced to someone just moving into 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

ir new home. They purchased the home, love your work, and hopefully will hire you for more.

The term "Staging" is a registered trademark of Staged Homes.com where I received an "Accredited Staging Professional" (ASP) designation after a 3

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

Companies that provide selfless information through particip

ay course. Home staging is a terrific business; however, the referral opportunities are the greatest bonus. In the few months that I have been offering and marketing Home Staging, I have found this to be an amazing source of great referrals

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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