Subjects - Business

December marked the 40th anniversary of the original broadcast of the classic “Rudolph The Red-Nosed Reindeer”©, network television’s longest-running, highest-rated holiday special. From m

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

y earliest childhood memories, watching Rudolph has been a tradition, one that continues today with my own family.

While Rudolph never crosses my mind during the year, a few days before a

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

Examples of combination products may in

d after the broadcast I’m always saying some of the classic lines to our kids: “His beak is blinkin’ like a blinkin’ beacon.”/“I’m cute. I’m cute! She said I’m cuuuuute!”/“Now you come to

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

lf practice, learn how to wiggle your ears and chuckle warmly and go hee-hee and ho-ho and important stuff like that.” I guess Rudolph remains forever etched in our minds and memories.

Ju

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

st in time for Christmas, there was a 40th Anniversary Collector’s Edition DVD that includes a previously deleted scene and a bonus CD featuring Destiny’s Child. There are also new lighted

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

Combination pro

tree ornaments, snow globe, jigsaw puzzle, inflatable yard decorations and exclusive Beary-Limited® edition, commemorative Rudolph at Build-A-Bear Workshop. No doubt, all of these products

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

are part of a carefully designed strategy by marketing experts to capitalize on our love of Rudolph and his misfit friends.

Success Handler Action: After you finish reading this, gather y

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

our team and discuss why customers/clients love you. Be sure to remember they “buy” for different reasons than you “sell”. For instance, people buy: thrills, not circus tickets; spills, no

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

NASCAR; and chills, not horror movies. The more clearly you understand why they buy your products/services, the better you will be able to communicate with them. Here are some questions 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

help you get started:

~ What are the biggest strengths of your small business?

~ How do you treat customers/clients differently than your competitors?

~ Who are your “best” customers/c

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

ients, and what do they have in common?

~ Which areas of your small business receive the most compliments?

~ What are the benefits customers/clients receive from each of your products/se

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

Following aspects would a

rvices?

All of the Rudolph merchandise didn’t just show up on store shelves and Web sites this month waiting for customers. It took a lot of advance work to design, develop and distribute

dd to the challenges in developing combination products:

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

them. It also took a precise marketing plan to make sure potential customers find out about all of the many products available for decorating their homes and giving as gifts. As a small bu

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

iness owner, it is important you have a marketing plan to let your customers/clients and prospects know about all the benefits they will receive from you and your team.

Success Handler Ac

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

tion: Your marketing plan is a roadmap that clarifies all of the actions you will take to get your message out to the right audience the right number of times this year. It is your path to

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

higher sales, and includes analyses of your business, your competition and your best prospects. Here are five steps for creating the right plan for your small business:

1. Conduct a SWOT,

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

Professional from academic institutions, pharmaceutical industries, health care indust

identifying your Strengths, Weaknesses, Opportunities and Threats.

2. List your products/services and why people buy from you and your team.

3. Describe the potential customers/clients y

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

ou want to reach with your marketing efforts.

4. Write down the options you have for capturing their attention.

5. Select the strategies and tactics you will utilize to communicate with

.

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

hem.

Taking the time now to create your marketing plan will give your small business a better shot at soaring, just like those young yearlings in Rudolph who receive flying lessons from t

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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Ads in the john are just the tip of the iceberg for the astute small business owner. Use every available resource to educate your potential customer as to what you do and what you can do for them. Sell the benefits everywhere, even in the john.

Some of these ideas are more traditional, such as yellow pages advertising and classified ads. Of course that doesn't mean they should be neglected.

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