Useful Advices - Business

Endorsements – There are people and businesses that have a great personal relationship with their customers and prospects. They may not necessarily

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

know this fact. In fact, a lot of them don’t even realize the amount of pull they have with their audience. People who recommend certain stocks 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

trends, people who give great content and information to their subscribers, people who give investment advice, generally people who have a certain

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

rapport with their subscribers. They are the ones you want to target. If their niche is non-marketing-related, so much the better in order to cut t

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

hrough this niche’s clutter. I know someone who targeted golf enthusiasts for a marketing product, simply because of their test results. In any cas

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

Combination pro

e, if you can JV with this sort of person who will endorse your product or service, you have a huge advantage. It’s simply one of the best ways to

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

rint money on demand. Please don’t overlook this technique.

These people may not even realize the relationship they have with their list. So you w

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

ould be well advised to start with those folks.

JV Your List Building: Large List – If you have a large list, one of the easiest ways to build it

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

even further is to do a cross mailing. That is, you partner with another large list owner in your target market. You send out his message to your 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

st, he sends out your message to his list. Simple. Just remember, once your prospects or customers are on another list that sells to them, there is

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

increased message clutter. That is, they are now being pitched by your JV partner AND you. It’s a tradeoff you need to consider.

JV Your List-Bui

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

Following aspects would a

lding: Small List – Ok, if your existing list isn’t large enough to warrant a cross JV mailing as described above, here’s a clever way to build you

dd to the challenges in developing combination products:

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

list up quickly. I’ve done this, but not to the extent I should. I’ve got more deals like this in the works. Here’s how it works:

Let’s say your

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

list is on the small side. “John Smith” has a huge list. You want to JV with him, but a cross swap isn’t going to persuade him. You need to be the

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

middle person between John Smith and another large list owner.

”Jane Doe” is another huge list owner. What if you can put John Smith and Jane Doe

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

ogether to do a cross mailing, and you get exposure as well. Instead of a cut of profits, you agree to get a slice of the list. In other words, per

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

Professional from academic institutions, pharmaceutical industries, health care indust

haps in order to get onto Jane’s list from John’s, they have to come through you first. Or, you could have John mail his list with the agreement th

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

at whatever prospects Jane gets, she’ll share with you. It’s a win/win/win situation, because all of you are gaining new prospects on your lists.

.

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

ohn gets some of Jane’s list.

Jane gets some of John’s list.

You get some of Jane’s list. Or, ideally, you get some of both lists. You are the de

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

Companies that provide selfless information through particip

al maker. It wouldn’t have happened without you, so depending on the deal you make, why shouldn’t you get access to both lists?

to be continued...

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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Unless you have become extremely popular in your personal or business name, you likely need all of the marketing and promotion you can get. Now, you may say, of course, I'm aware of this, but who has the money? This a good and fair question. It may surprise you, though, when I say, you don't need money for some of the most valuable marketing available -- radio advertising.

What you need to know about web, mail and IVR surveys in considering the advantages among these alternate marketing research methodologies.

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Useful Advices - Joint Ventures - Part VII

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