Useful Advices - Business

One of the best ways to get new sales ideas is to see what your competition is doing. Ev

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

en though both you and your competition may sell the exact same product or service there

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

Examples of combination products may in

is a unique difference. And what might this difference be? This difference is in both t

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

he contents of the message and the mediums used to convey this message. Your competition

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 message and how it is delivered can be found in some of the following ways:

-Your co

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

Combination pro

mpetition’s website

-Your competition’s promotional email newsletter

-Your competition

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

’s advertisements (i.e. newspaper, radio and online ads)

-The on-hold messages of your

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

competitors

-The business cards of your competitors

-News articles on your competitors

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

(i.e. do a google.com search to find articles on your competition)

When you take the t

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

ime to research your competition as outlined by the ideas above you will begin think of

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

new ways that you might be able to communicate and deliver your message. In fact, once y

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

Following aspects would a

ou start to incorporate these "new ideas" and market them to your prospect you will find

dd to the challenges in developing combination products:

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

that their perceptions of you and your company may begin to change. How will you know i

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

f this is happening?

One way to immediately gauge your success is if you are experienci

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

ng more returned calls from voicemail messages that you have left for your prospect. Or,

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

you may begin to notice that you are booking more appointments each week. And finally,

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

Professional from academic institutions, pharmaceutical industries, health care indust

you will begin to find that your prospects are saying "Yes" to you more often than "No."

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

I would suggest that you review what your competition is doing on an on-going basis. Th

.

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

is way you can constantly fine tune your message and seek out the most effective forms o

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

Companies that provide selfless information through particip

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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Useful Advices - Get New Sales Ideas From Your Competition

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