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The single most important activity you can do in your small business is create a unique marketing strategy and plan. When was the last time you saw a company marketing themselves in an outrageous way? In th

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

is day and age it looks like everyone has read the same book on marketing – and sorry to say – that book doesn’t work!

What does work – is a little creativity, a little personality and a lot of effort to mak

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

Examples of combination products may in

e yourself so different from your competition – that there is no real competition.

1. What crazy stunts could you do to get free media publicity? What type of outrageous challenge could you post to the publ

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

ic (ie give me 30 days and we will change your life, your business, your appearance etc…) Alternatively, go get a Guinness Book Of Records… find something that is remotely related to your business… and desig

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

n a new record you are going to create – the media will love you.

2. What’s your stadium pitch? Imagine this...you have been given the chance to do a 60 second presentation to 50,000 people in a stadium. J

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

Combination pro

ust as you walk out to start the presentation… they announce that people don’t have to stay if they don't want. What could you say in 15 seconds to get them to stay? What could you say in 60 seconds to convi

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

nce them that your company is the only alternative and they’d be crazy not to build a relationship with you?

3. Think about the lifetime value of your clients. When they are first introduced to you they are

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

buying into a relationship with you… they are NOT buying a product. It is up to you to nurture that relationship. Are you? If you treat them right and make them feel like family… your clients will come ba

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

ck… buy more… and buy more often. In today’s cold impersonal business world, be the one that treats them like family.

4. Find a way to build a recurring payment plan around your business. If you have a one

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

-time purchase of your product… what could you offer to your clients to have them come back more often? Could you do a tune-up or clean up or re-design once a year? Rather than waiting for them to come in…

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

offer them a reminder service and a monthly enticement to come back in. Bill them monthly, quarterly or yearly. Up to 50% (sometimes more) of your clients will take this option… what would that add to your

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

Following aspects would a

bottom line?

5. Create joint ventures with other related businesses… anyone that deals with the same target market that you do. Explain to them that you will send them extra business if they give your clien

dd to the challenges in developing combination products:

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

ts an incentive to buy (coupons, discounts, bonuses etc). Create a booklet that you will give out to your clients with all these discounts. For every discount coupon they use - that supplier is to pay you $

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

xx dollars for the new client you brought them

6. Send out a weekly (even bi-weekly) email newsletter with some tips, some humor, some specials of the week. On the days when it is going to rain - send out an

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

urgent bulletin - rainy day special! Offer them a deal to come down, brave the rain and get a deal on lunch

7. Make doing business with you more exclusive. Make it on a referral-only basis. There is a dent

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

ist I know of that locks his door. You are not allowed in unless one of his present clients has recommended you… even then you need to pass the approval process. And he has 3 times more profit (and much hap

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

Professional from academic institutions, pharmaceutical industries, health care indust

pier clients) than any other dentist in his city.

8. Test all of your crazy ideas. No matter how crazy they sound - try it out. Find out which ones work. Then optimize how effective they are. Test all var

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

iations of that idea. Find out which variation works best.

9. Use risk reversal in your offer. Make it so your clients come out so far ahead by dealing with you they would be silly not to. Even if they dec

.

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

ide that your product is not for them and they return it - they still come out of the deal with the refund and many bonuses that they never had before dealing with you. The stronger the risk reversal and the

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

Companies that provide selfless information through particip

longer the guarantee… the fewer number of returns and complaints – it’s a fact.

Think differently, be different, make sure people notice you are different - and you will be very profitable. To your success

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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Before starting a new business everyone should have and own two of the most important factors and ingredient for online and offline business success.

What are the business issues that market research can help me with, and how do they work? This research addresses that question.

Everyone likes to bowl and yet no one will come unless they are in a league or they are invited. Sometimes these customers need a little edge to get in the door you see? How can you get clients and bowlers into your bowling alley establishment and get them hooked on such a wonderful sport?

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