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Useful Advices - Niche Networking Wins Good Clients
Probably the greatest single lesson I have learned in some forty years in business is to focus my marketing e
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
fforts on good clients.
When I think about networking I focus on niche markets. For my Business Coaching bus
When I think about networking I focus on niche markets. For my Business Coaching bus
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
iness I focus on Blue Chip companies. The reasons for this are simple. They are good clients because: 1. They
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
have a lot of people who will probably benefit from my coaching. 2. They are accustomed to paying the high le
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
vel of fees that I charge. 3. Generally speaking they pay their accounts on time.
That said, they are, of co
That said, they are, of co
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
rse, a great deal more difficult to penetrate. I guess I was fortunate in having a good grounding in marketin
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
g before I came in to Business Coaching. This meant that I thought about the best ways of gaining entrees int
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
o big companies in a logical and creative way.
The fact that I now have an almost exclusively blue-chip clie
The fact that I now have an almost exclusively blue-chip clie
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
t list is the reward for a lot of hard thinking before I started out. It is also the result of what I would d
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
escribe as a lot of intelligent work once I got going.
One of the questions I asked myself at the outset was
One of the questions I asked myself at the outset was
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
“Do I want a large client list or a smaller list of good clients?”
The answer had to be A Smaller List of G
The answer had to be A Smaller List of G
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
ood Clients. I planned to run a one-man-band business so the client list had to be kept to manageable proport
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
ions.
The policy of focussing on niches of blue chip clients has paid of handsomely. I actually spend very l
The policy of focussing on niches of blue chip clients has paid of handsomely. I actually spend very l
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
ttle time on networking. Perhaps only 20 minutes a week. One hour a week top whack. But it pays of handsomely
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
the way I do it.
I have to say that I have only come across a very few people who network in the same way a
I have to say that I have only come across a very few people who network in the same way a
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
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
I do and they all appear to be very successful. The reasons are simple. We all stand in the right traffic la
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
nes. We all work smart rather than hard. We focus on building good, two-way communication, relationships with
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
our clients. We offer good value to our clients. We charge high fees, which we can do because we offer good
.
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
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
alue.
Nowadays I am spending more and more of my time on making videos about how I have built my business so
Nowadays I am spending more and more of my time on making videos about how I have built my business so
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
that other people can simply go to my web site and get good practical advice straight from the horse’s mouth
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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