Useful Advices - Business

If you have been in sales for a little while, you would agree with me with saying, "There must be a better way to gain prospects long term"

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

. Well there is a way, by gaining referrals. After a while everyone gets tired of the constant calling on strangers. Getting referrals is t

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

Examples of combination products may in

he only way forward because word of mouth is always the best form of advertising.

So here we go!

Get Referrals Never miss an opportun

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

ity to ask for a referral. I have received referrals from the most bizarre places. Sometimes you have called a one man band company who may

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

be unsuitable for your product or service. Don't waste this contact he probably has been in the industry for a good time and has left anot

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

Combination pro

er established company down the road and has a lot of information on who to contact and even how to approach them. He could give you names

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

and numbers of other companies and contact names. You then can use his name to get through to that person.

When I worked in the financial

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

services industry, we would not hire a new Insurance Agent unless he could bring 100 contacts with him that he could start on. Once they ha

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

d started through some training I could get them to expand that list up to 1000 contacts.

Yes you heard it right 1000! Have you ever heard

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

of the term "6 Degrees of Separation"?

The 'Wikipedia Encyclopaedia' says the term 'six degrees of separation', "refers to the idea that

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

ll human beings are connected through relationships with at most six other people. Several studies, such as Milgram's small world experimen

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

Following aspects would a

t have been conducted to empirically measure this connectedness. While the exact number of links between people differs depending on the po

dd to the challenges in developing combination products:

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

pulation measured, it is generally found to be relatively small".

Here we go; I want to get a contact to meet say Brad Pitt. Well
(1

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

) my ex-wife's
(2) mother use to work for
(3) Claudia Schiffer as a nanny for her children. Now Claudia Schiffer is a friend of

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

(4) Brad Pitt.

Hey that only took me 4 steps! I am actually trying to impress you. Did it work? That may have been a party trick. 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

well I think you get what I am trying to get at. Well you may have Joe Bloggs name down but what is his sister's name or the business his

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

Professional from academic institutions, pharmaceutical industries, health care indust

brother has. Now this works offcourse better for a product that is general like insurance, however we can use the same technique for any pr

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

oduct or service.

One of the best things I have seen to gain referrals is to give people incentives like a bottle of champagne or a lotto

.

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

ticket to get names of their friends and colleagues. I once new a Zimbabwean guy in the insurance industry that got 1000 names out of 1 con

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

Companies that provide selfless information through particip

tact. Make a commitment today to ask every customer and potential buyers for referrals. If you don't ask you don't get! What harm can it do

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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