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Subjects - Home Business - What Were Those Customers Thinking?
Here is a way to find out what your future customers will be thinking. A successful business or home business needs good market research data for all products or services. Unless you've been in the business yourself many years, finding out about a market may require calling people or companies that you think will need your product. Try to appeal to their expertise, beca
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
use obviously they are in the business and their opinions count. Then you can get valuable market information as to whether or not your home business would be successful, or whether your product will sell. If you are nervous or shy, practice interviewing friends or relatives that may be in the field or may buy the product. Don't be afraid to be bold and ask. You could
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
be very surprised by what you hear, and it may also change your business plan! Such information is worth lots of money, and can save you a lot of heartache.
Shown below is an example of one contact I made concerning a new product and technology we were researching. It is important to be ready to document everything, such as who you talked to, where they worked, and wha
Shown below is an example of one contact I made concerning a new product and technology we were researching. It is important to be ready to document everything, such as who you talked to, where they worked, and wha
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
their position was. Have good general open-ended questions ready to ask. Simply ask the question and let them talk. Write fast and take detailed notes. Such data is important for the market study report you should put together for your business or home business, and which will be studied by you, other owners, investors, lenders, or management. Seek to connect with i
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
fluential people, buyers, users, and anyone who will buy or use your product. Let the facts and feedback speak to you. Don't go forward without diligently doing this research, or you could lose a lot of money on a product no one wants. Here is how a market research interview could go:
COMPANY: Primemark Contractors, Home Remediation and Water Damage Repair
Conta
COMPANY: Primemark Contractors, Home Remediation and Water Damage Repair
Conta
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
t: Wes Woodenville, Project Manager, 1-319-566-5232, 113 Tesla, Irvine, CA 92618
INTERVIEWER: Rich Kimura. Time: 60 minutes, January 2, 2007
Rich: Hi Wes, This is Rich Kimura. I'm working with a group of engineers who are researching a new technology which uses electromagnetic radiation i.e. radar to see into walls and ceilings. The devic
INTERVIEWER: Rich Kimura. Time: 60 minutes, January 2, 2007
Rich: Hi Wes, This is Rich Kimura. I'm working with a group of engineers who are researching a new technology which uses electromagnetic radiation i.e. radar to see into walls and ceilings. The devic
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
would detect moisture, wiring, piping, and other structures inside walls. Your expertise and experience would be very valuable in helping to understand how this technology could be useful to you and the industry. OK, here are some questions.
Rich: How do you go about detecting moisture in walls now?
Wes: Moisture is a huge problem here, and it's getting worse. Mo
Rich: How do you go about detecting moisture in walls now?
Wes: Moisture is a huge problem here, and it's getting worse. Mo
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
d is the biggest health concern. If you could find leaks in walls and ceilings that would be very useful. Right now, you can't tell where moisture is entering, only where it is showing up. It is most critical to know where it is entering, e.g. where is the roof leaking? Water moves and the leak may be 10 feet or more from where the source is. If the device can tell
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
ou this, or give a picture of what’s going on inside the walls it will be a big breakthrough.
Rich: What kind of hassles have you had with this (current system)?
Wes: Pipe leaks are easier to find, leaks around windows. 9 times out of 10 where you see the water is not where its entering, it could be 10 feet away. We used to hire a man about 15 years ago who injected
Rich: What kind of hassles have you had with this (current system)?
Wes: Pipe leaks are easier to find, leaks around windows. 9 times out of 10 where you see the water is not where its entering, it could be 10 feet away. We used to hire a man about 15 years ago who injected
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
pipes with a gas, then used meters to detect the gas. He also used dyes and injected them, looking for colors to show up in the leak area. We currently don't use him, just basically use our best guess and tear it apart.
Rich: What would be "really great to have" that's not currently available?
Wes: I used to call that specialist out, but we don't use him anymore,
Rich: What would be "really great to have" that's not currently available?
Wes: I used to call that specialist out, but we don't use him anymore,
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
ust go on our own. We don't have a way of finding leak sources, just tearing out walls, sometimes up to 8', and then rebuild. Finding out quickly the exact pinhole, etc would be essential.
Rich: What else might you be looking for in a wall section?
Wes: The source of the leak. That is the most important. But, speaking of non-water, our current practice is to take
Rich: What else might you be looking for in a wall section?
Wes: The source of the leak. That is the most important. But, speaking of non-water, our current practice is to take
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
complete digital pictures, and a video of all wall installations before putting on any sheet rock. We get tons of pictures of walls and ceilings. Any future problem, remodel, we have records of each installation. We also give the homeowner a copy of the pictures and a video. I probably spend a half a day taking pics, then the video. Most homebuilders in the high-end
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
market do this, but maybe 1/2 to 2/3 may not in other lower end markets. We have to make sure it's right and tight before sheet rocking, along with 4-5 detailed independent inspections too. Windows/penetrations are a top concern. Now, with new rubberized materials seals are getting much better. We document everything before closing it up, this protects the builder.
R
R
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
ch: How much of your overall business (time) is spent in detecting moisture?
Wes: It's hard to say, but more time is spent tearing out walls. Not much time is spent detecting it, we fix the problems however.
Rich: Where do you typically find out about new technology?
Wes: Word of mouth, when we see another contractor or inspector using something new, we may ask ab
Wes: It's hard to say, but more time is spent tearing out walls. Not much time is spent detecting it, we fix the problems however.
Rich: Where do you typically find out about new technology?
Wes: Word of mouth, when we see another contractor or inspector using something new, we may ask ab
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
ut it. If it works, word gets around quickly, and we'd buy one.
Rich: How do you make decisions on what technology to purchase?
Wes: If it works we'd buy it, if others who use it are happy with it.
Rich: How important would compactness and portability be?
Wes: That's the only way it would work.
Rich: How much do you think the average contractor would be willin
Rich: How do you make decisions on what technology to purchase?
Wes: If it works we'd buy it, if others who use it are happy with it.
Rich: How important would compactness and portability be?
Wes: That's the only way it would work.
Rich: How much do you think the average contractor would be willin
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
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
to pay?
Wes: Maybe 3-4 inspections may cost $300-400 per inspection, so maybe $1200 - 1600 for a device. We wouldn't think twice about spending that much on a unit if it worked. Home insurers may pay more because they'd use it all the time.
Rich: How would you recommend we get the word out once the product development is completed?
Wes: Word of mouth, Maybe a
Wes: Maybe 3-4 inspections may cost $300-400 per inspection, so maybe $1200 - 1600 for a device. We wouldn't think twice about spending that much on a unit if it worked. Home insurers may pay more because they'd use it all the time.
Rich: How would you recommend we get the word out once the product development is completed?
Wes: Word of mouth, Maybe a
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
rade magazine? Yes, maybe. But, word gets around fast if someone has a good way of finding leak sources.
Rich: What would you think if this product were franchised? (No time to discuss.)
Rich: Who else should I talk to?
Wes: The track home, condo, and apartment contractors, who build large numbers of spec. homes and units. They may have a greater need for quickl
Rich: What would you think if this product were franchised? (No time to discuss.)
Rich: Who else should I talk to?
Wes: The track home, condo, and apartment contractors, who build large numbers of spec. homes and units. They may have a greater need for quickl
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
finding problems, due to the large numbers of units they work with. Home inspectors, yes, talk to them. They'd use a unit if it were portable.
Rich: What else should I have asked?
Wes: Most California builders are very conscious of being sued. But home insurers are not, right? Your device is awesome, I don't think $1000 - $1500 would be unreasonable - if it can
Rich: What else should I have asked?
Wes: Most California builders are very conscious of being sued. But home insurers are not, right? Your device is awesome, I don't think $1000 - $1500 would be unreasonable - if it can
.
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
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
eally pinpoint the leak we'd buy one. If you could do tests, with nail-hole sized leaks, finding out where the water comes in, and if it'll tell you exactly where this hole is, that is much more important than moisture in general. You must find the hole! For home insurers, finding general moisture may be good enough, but for contractors who have to fix problems, we n
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
ed to know where it is coming from. If we know, we can limit the damage to 1' of wall instead of ripping out 8' by guesswork it's worth it. You still need space to work in for the fix. It must find the source.
Rich: Thank you very much for your time Wes! You're expertise is much appreciated, we'll take your input seriously, and will keep you posted on it's progress
Rich: Thank you very much for your time Wes! You're expertise is much appreciated, we'll take your input seriously, and will keep you posted on it's progress
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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