Subjects - Business

You probably spend a great deal of your time looking for new customers or clients. However, are you sure your doing

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

enough to hold onto the ones you've got. One of the least costly ways to grow your business is to get customers t

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

Examples of combination products may in

come back and buy more of your product or service.

How many customers have you lost this month? I'm sure it's no

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

something you want to think about too much, however it's inevitable that you'll lose customers and clients for a

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

hole range of reasons many of which are out with your control.

I read a survey some years ago that suggested custo

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

Combination pro

ers leave a business for four basic reasons: 14% leave because they're dissatisfied with the quality of the produ

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

ct or service, 9% leave because of price, 5% leave for other reasons and a whacking great 72% leave because of "su

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

plier indifference".

Too many suppliers give customers the impression that they don't care about repeat business.

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

I've stayed in hotels, dealt with banks and building societies and dealt with suppliers who didn't seem to care wh

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

ther I came back or not.

We need to continually let our customers know we care about them. We need to keep in tou

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

h, write to them, send them information and occasionally 'phone them. When they contact us we need to make sure we

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

Following aspects would a

sound warm and friendly, pleased to hear from them, efficient and maybe even look and sound like we're fun to do

dd to the challenges in developing combination products:

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

usiness with. It's not a lot different from our personal relationships. If we don't keep telling the people close

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

to us how much we care and keep writing and 'phoning, then we shouldn't be too surprised if they leave us one day.

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

Use logic and emotion to keep your customers. Give them the best products and service and give great value for mon

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

y. However, always remember, your competitors will be doing much the same thing. The difference will be determined

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

Professional from academic institutions, pharmaceutical industries, health care indust

by how you communicate with your customers on an emotional level, either face to face, on the 'phone, by letter o

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

email.

I bought a new car from a local dealer a few years ago. I've never heard from them since. A dealer for th

.

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

same brand of car fifty miles away writes regularly with details of special offers. They send a regular news lett

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

Companies that provide selfless information through particip

r and the occasional very courteous 'phone call. I'm going to change my car soon, guess who'll be getting the sale

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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Knowing the differences in managerial practices in different countries is interesting. There are, for example, great differences among mangers in the United States as opposed to other countries. With the increasing investment of foreign firms in the United States, the syllabus of business finance is giving more attention to the integration of managers and workers from other countries into American society. This need is highlighted in that the number of inters company transferees has more than tripled from the late 1970’s. The Japanese, for example, often find it difficult to be outspoken and direct in interactions with their colleagues and superiors. People from Arabian countries usually find American teaching methods too impersonal. One can learn various approaches used by the managers to reduce culture shock. These include special programs about corporate life in the US, as well as instruction in English, books and movies and tax advice for newcomers.

Franchising your existing business might be the best possible way to take the opportunity to enter emerging markets. Markets like India and China have complicated rules and regulations about who is entitled to own and operate a business there. The best way often to circumvent these rules is by franchising your operation in these markets.

Financial decisions are very important to the health of any company. So it is critical that decisions are made using the best techniques available. Cost Benefit Analysis is designed to help you make the best financial decision possible.

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