Useful Advices - Business

Business expos can be an excellent marketing investment and an outstanding way to build your business. On the other h

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

and, if not treated as an integral part of your marketing strategy, they can become a huge waste of time, money and e

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

Examples of combination products may in

ergy.

To gain the most from your investment develop a plan for before, during and after show preparation.

Determine

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

goals and outcomes. Decide why you are at a show before you are there. Are you there to increase sales, have a presen

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 in the marketplace, introduce new products, and/or enhance or solidify your image? Unfortunately, many companies de

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

Combination pro

cide while they are at the show and then management feels they have wasted their investment.

Train staff and managem

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

nt. A great deal of how an exhibit is remembered is based upon the personal contact made with company representatives

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

Although money is invested in the booth, the promotional products, brochures and other external items, many companie

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

fail to invest in personnel training. A walk around virtually any show indicates how true this is.

Train your team

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

how to meet and greet visitors; engage in an interactive conversation; welcome booth visitors without overwhelming th

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

m and capture contact information of prospects. Train your team to have a mindset of being a resource before they are

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

Following aspects would a

a vendor. Rather than immediately jumping into a sales presentation on the showroom floor use the time to build relat

dd to the challenges in developing combination products:

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

onships with current and potential customers.

Promotional products can be a great way to be remembered or be a quick

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

addition to the trashcan. When offering promotional products make sure your team knows when and how to offer them. W

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

atever you use, your promotional product should reflect your company’s overall theme.

Post show follow up. Incredibl

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

, only a small percentage of leads are ever followed up on after a show. If you don’t follow up you are literally let

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

Professional from academic institutions, pharmaceutical industries, health care indust

ing money slip through your fingers. Keep in touch while you are fresh in the prospect’s mind. Devise a system that a

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

llows for timely follow up to all show leads. Don’t expect prospects to get in touch with you. Your job is to be proa

.

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

tive in keeping in touch.

Expos and shows can be very effective marketing strategies. With proper planning you can g

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

Companies that provide selfless information through particip

in an incredible return on investment and reap great benefit all the way around.

By Kathleen Gage and Lori Giovannon

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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As communicators on digital signage networks or private TV channels, you have the power to make a difference when an emergency situation arises.

Are you into medical billing? Do you have to bill oxygen claims? No clue what ABG means? Well, in this installment, we cover the GX0 record, fields 24 through 27.

To grow your cleaning business you need to expand your circle and gain new customers. Where do you look for potential clients? The following are practical ideas to find qualified leads.

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