Subjects - Business

You probably already have in your possession one of the most valuable and powerful assets you can possibly own. But if you're like most

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

business people you probably aren't using it to its full potential.

It's very easy to tap into its power -- and it is very powerful. What c

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

Examples of combination products may in

ould this valuable asset possibly be?

Your mailing list. (You do have one don't you?)

Your mailing list is a surefire way to get repeat

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

usiness and to bring in new customers but only if you're using it. Don't worry if your list isn't in a usable form yet. You may be furth

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

er along than you realize and using these 6 tips will make the task easier:

1. Determine what information you already have. You probably

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

Combination pro

lready have more mailing data than you realize. Start with your invoicing and sales records. Do you have a stack of business cards lying

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

around that you've collected at networking events?

2. Gather more names and addresses. With so many privacy concerns these days people

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

are not as willing as they once were to give out personal information. But often they are more than willing to complete a form if they t

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

hink they might win a contest or get something for free. Are you a member of your chamber of commerce or some other networking group? Yo

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

can often get their membership lists for free or a nominal fee. You can also buy lists of people who have bought products and services

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

similar to yours.

3. Give something away to say thanks. Your customers and prospects will expect something in return for giving you their

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

Following aspects would a

information. It can be anything of perceived value. Free reports. Coffee mugs, t-shirts, pens one of your products or discount coupons.

dd to the challenges in developing combination products:

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

A candle retailer I know holds a drawing for one of their most popular candle scents every month and their customers are eager for a cha

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

nce to win and gladly provide their mailing information.

4. Keep track with a database. Once you've gathered the information you need,

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

ut it into a contact database where you can easily access the info and create mailing labels. Include additional information such as bir

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

thdays, anniversaries, special interests and needs. A bed and breakfast owner uses upcoming anniversaries as an opportunity to send a gr

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

Professional from academic institutions, pharmaceutical industries, health care indust

eting card and an invitation to come back to the inn to celebrate.

5. Brainstorm ideas for using your list. Newsletters. Postcards. Coupo

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

ns. Thank you notes. Greeting cards. Flyers. There are hundreds of ways to stay in touch.

6. Use your list. There is a lot of advertisi

.

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

g clutter out there. All the more reason to keep your name forefront in your customer's minds so they remember you when they're ready to

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

Companies that provide selfless information through particip

buy. This means sending continual reminders. Mail something to your list at least once each quarter or more often if your budget allows

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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Here are some quick tips about branding and how one jeans company has a leg up on the competition.

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