Useful Advices - Business

Adding value to your site, service, or product is one of the most over looked and under rated strategies for improving your internet business.

T

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

he internet and modern technology makes it possible for anyone to offer that little something extra that nobody else does, and usually at no addi

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

Examples of combination products may in

tional cost.

Why: First, let’s look at why this is a good business practice.

It’s a good thing to do because you will make more money!

What: N

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

w let’s look at what value adding is!

Value adding is giving surprise high quality and useful gifts. It’s giving something that your competitor

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

s aren’t offering. It’s promising the world and delivering the universe. It’s taking care of your clients and always providing something that y

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

Combination pro

our clients need and want, when and where they want it.

How: Now let’s look at the different ways we can do this.

If you receive a free gift fr

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

m someone when you don’t expect it, do you remember that person? Answer; yes usually. How can we do this? Look at the example below for an id

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

ea!

If you subscribe to a news letter or ezine, what do you expect? You expect to get what you subscribed for, right? Now imagine that you sub

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

scribed for a newsletter that distributes information about Poodle breading in France, and when you open the conformation email you find you’ve a

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

so received a free ebook containing 20 poodle grooming tips and Grandmas secret poodle pampering techniques. (a book that normally sells for $29)

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

Wouldn’t that make you more likely to open and read the next issue and the next etc? That’s one simple example, but where do you get the ebook

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

Following aspects would a

from? You make it! If you are distributing a poodle breeding newsletter, you might know something about grooming, or know some people that could

dd to the challenges in developing combination products:

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

help you put together the necessary information. Then you can wrap that up in an ebook cover and then send it around to a variety of sites that w

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

ill post it for you for free and you can sell on your own site, if you have one. (I can see that there are several more articles just on making e

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

-books, posting them on other people’s sites, and setting up a shop front.)

Back to the Poodles! So you can see that by offering this free gift

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

ou have achieved several things.

1. You have developed a product (at no cost to you) that you can sell and make a profit on.

2. You have used t

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

Professional from academic institutions, pharmaceutical industries, health care indust

hat product to increase the chances of your new subscriber opening your next email.

3. You have promoted you site/service to other internet mark

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

eters that you may wish to do a joint venture with at some time. (see my article on Joint ventures)

Another way to add value for less effort is

.

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

o offer a 110 percent guarantee instead of a 100 percent.

Another is to make your 20 tips into 30 or more etc, get the idea? It’s all just a mat

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

Companies that provide selfless information through particip

ter of finding ways that you can give more.

The more you give the more you will receive.

I sincerely wish you good luck and happiness

Bill Boy

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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