Cases - Business

Have you ever thought about what you do ... really?

I don't mean have you really thought

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

about it. I mean what do you really do?

Many people look at their business card for a clu

; 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. I suggest you ask your clients.

I know of one business coach who is seen as a marriage

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

counselor. He helped one couple sort out their business goals and issues so well it's impr

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

oved their marriage!

Everyone sells products or services. The more successful people offe

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

Combination pro

r/sell what a client wants.

That sounds so "Sales 101", doesn't it?

But it's true.

The

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

ey is to put what you do, not into the customer's language, but in to the customer's speci

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

fic situation.

Mortgage Broker: if your client is buying a new house, have you found out

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

why they want "that one"? What feelings will be satisfied by purchasing that house? At tha

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

point you are not a Mortgage Broker, you are a facilitator of those feelings.

Florist: Y

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

ou do create beautiful arrangements. But what are you creating for your next client? What

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

Following aspects would a

feeling, what atmosphere are you going to create? That is what you are doing for that cust

dd to the challenges in developing combination products:

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

mer.

It's more than walking in their shoes. It's feeling what they are feeling: whether i

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

t be excitement, or trepidation, or sadness.

It means, to be an exceptional salesperson,

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

or service provider, you have to be on your game. With every customer.

Make sure you get

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

eedback from your clients. Use their words when you describe your service to the next pers

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

Professional from academic institutions, pharmaceutical industries, health care indust

on. Become a customer when you speak with customers and prospects.

Then it becomes less "

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

sales" and more "solution". And people buy what us, our product or service can do for them

.

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

Not what we think we do.

So, have a think about what you really do. What your customers

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

Companies that provide selfless information through particip

say you do for them. What you really love to do.

And maybe put that on your business card

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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A large number of individuals dream of owning their own business. A number of those individuals are able to make that dream come true. If you are one of those individuals, there may come a point in time when you have too much business. Too much business often means a large amount of money. Instead of complaining about too much business, there are many business owners who take action. This action often involves outside assistance, such as an answering service.

Successful managers have learned to put off making big decisions as long as possible. They can develop options; in the meantime time may solve the problem. Sucb controlled procrastination is a vital tool of management.

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