Useful Advices - Business

Hosting a successful fundraiser is no accident. It requires planning, commitment, and more than a little bit of salesmanship. If this sounds like a lot of work, make no mistake about it, it is. But it’s rewarding work, it’s

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

meaningful work, and done the right way, it can be fun work. Fundraisers present wonderful opportunities to generate both income and good will for your organization, to raise community awareness for your cause, and to create

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

Examples of combination products may in

a sense of camaraderie within your group. These tips are designed to help your organization get the most from your fundraiser, in every sense of the word.

When planning your fundraiser, the first question to ask is “when?”

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

Timing is very important and depending on the kind of fundraiser you want to hold, certain times of the year of the year are better than others. The fall and spring, with their temperate weather, are wonderful seasons if you

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

’re going door-to-door, having a bake sale, or holding a car wash.

If you’re tying into a specific event like an Oktoberfest or school fair, then the dates are predetermined, but if you’re opting for the brochure or “pre-sale

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

Combination pro

s” method, you have some flexibility over your schedule. Generally speaking, a two-week period is ideal – anything longer than that tends to be counterproductive. Avoid times that coincide with school holidays when people may

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

be out of town. Not only do you want to have a lot of people around to buy your product, you want to be sure that you’ll have plenty of volunteers on hand to help.

Once you’ve decided when, the question becomes “what to sel

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

l?” Selecting the product for your group to sell is in itself an art form and there are many factors to consider. Who are your expected customers? What image do you want to convey? If you’re a sports team, perhaps you want

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

to choose a healthy product. If you’re raising funds for Juvenile Diabetes then obviously, you don’t want to pick candy. Of course, there are several generic products that appeal to almost everyone, such as popcorn, gift wr

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

ap, coffee or citrus. Often an answer is suggested by the season - spring bulbs, Halloween pumpkins, or Christmas trees or ornaments are excellent seasonal fundraising items.

The decision of what to sell goes hand-in-hand wi

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

th “what company should you choose to provide the product?” This can seem overwhelming at first – search the Web for fundraising companies and you’ll get over 3 million pages to sort through, and sadly, not all of these compa

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

Following aspects would a

nies are reliable. Get referrals from other groups if possible, or consult unaffiliated, information driven websites like the Fund Raising Ideas Center for more ideas and advice.

Advance promotion is a key element of any suc

dd to the challenges in developing combination products:

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

cessful fundraiser. A week or two before the actual selling begins, start spreading the word. Send letters home to parents and ask them to network on your behalf. Utilize the media – almost every outlet has some version of

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

a Public Service Announcement that they offer free of charge. Put up posters where it is allowed (but be sure to take them down when your event is over).

When you are ready to begin selling, it’s time to “rally the troops”.

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

Hold a kick-off session during which you explain the financial and tangible goals – “We need to raise $5000 for new uniforms. That breaks down to X-amount of sales per person.” Make sure that the tangible reason (the new un

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

iforms, the trip to Paris, the care packages for troops stationed overseas) is part of the sales pitch. If you’re working with a fundraising company that offers to send a representative to explain the finer points of selling,

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

Professional from academic institutions, pharmaceutical industries, health care indust

then by all means take them up on it!

During the fundraiser, monitor the progress and keep everyone updated. Offer incentives to the person or team that sells the most. It’s almost a clich?, but the “rising mercury in a th

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

ermometer” tote board is a visual tool that really works!

When the actual selling is over, there are still a few things to do. If you’ve opted for a pre-sales version of the fundraiser, you have to place the order with the c

.

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

ompany and arrange a time for the goods to be delivered. Make sure you schedule enough people to unload and distribute the product, and have a plan for dealing with damaged merchandise or incorrect orders. As far as getting

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

Companies that provide selfless information through particip

the goods to your customer, deliver them in person whenever possible. A personal thank-you note from the student is a wonderful touch and will give your customer a nice, warm feeling that will carry over until the next event.

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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