Useful Advices - Business

The process of receiving orders and shipping and tracking goods sold through direct marketing is

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

called fulfillment. Common sense suggests that every company cannot produce or market products

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

Examples of combination products may in

o suit every person, purpose and purse in the market place. People may differ in their buying mo

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

tives, in the features and benefits they seek from a product and in their buying habits. People

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

iving in different places may vary in their buying of the same product. In pricing too, consumer

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

Combination pro

differ in what they can afford and what they would like to spend on specific product categories

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

.

A mental listing of the various ‘popular’ or lower priced brands versus the ‘premium’ or high

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

priced brands of the same product category would speak volumes about differing price expectation

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

s of consumers. Hence, to fulfill the need of a customer, companies have to take a decision tha

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

whether to make a product, which suits everybody, or to make various products to suit various c

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

stomer groups or to make a unique product for every customer. While it is possible to follow any

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

Following aspects would a

of the three approaches, the cost and the other marketing implications make it a difficult deci

dd to the challenges in developing combination products:

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

ion for the companies. Company has to also decide whether he will market his product to all user

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

s of the product category or concentrate on a group of users who exhibit similar characteristics

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

In other words, a company has to decide whether he will serve the entire market or a market seg

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

ent.

A market segment is a large, identifiable group of customers within a market, showing a pr

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

Professional from academic institutions, pharmaceutical industries, health care indust

edictable pattern of behavior in buying situations, and able to be profitably reached by means o

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

distribution and communication. In some product categories, every customer could become a segme

.

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

nt- interior decoration, jewelry, designer wear, and industrial equipment. In these cases, it is

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

Companies that provide selfless information through particip

both possible and viable to serve each customer with a unique product and a unique marketing mix

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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