Cases - Business

Make sure you target women. It’s true for almost anything you are selling. According to Women Mean Business: The Secret to Sel

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

ling to Women, eighty percent of all checks written in the US are written by women and they purchase 80-% of all consumer good

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

Examples of combination products may in

s in the U.S. That’s not a market segment you can afford to ignore. Even for items traditionally thought of as male dominated,

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

such as consumer electronics, women have significant influence.

The Consumer Electronics Association (CEA) found women actua

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

lly spent more on technology in 2003 than men, accounting for $55B of the $96B spent on electronics gear. Auto industry resea

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

Combination pro

rch shows that 65% of new vehicle purchases are substantially influenced or directly made by women. A 2005 study by Lucid Mark

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

eting found that your business will suffer if your business web site doesn’t measure up with women consumers.

How can this he

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

p you? Make sure you actively pursue women as customers, even if you don’t sell goods or services that you think appeal to wom

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

en. Make sure your site or facility appeals to women as well as men. Women tend to feel uncomfortable around unhelpful or push

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

y salespeople. This occurs often in segments such as automotive or consumer electronics, where sales people tend to try to dom

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

inate or “sell down” to women. This could give you an advantage if you sell on the web, where this would not be a concern.

Ac

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

Following aspects would a

cording to the Lucid study, women value the following attributes in an e-commerce website.

• Easy navigation
• Maximum p

dd to the challenges in developing combination products:

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

roduct selection
• Product reviews / recommendations
• In-depth product information
• Competitive pricing

Mak

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

e sure your site provides these things.

According to retail statistics, women tend to make purchase decisions based more on l

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

festyle and aesthetics. Keep this in mind when formulating your product mix and promotional strategy. Women and men both desir

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

e flat panel TVs for example, but for different reasons. Men tend to either want to impress their friends or have them because

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

Professional from academic institutions, pharmaceutical industries, health care indust

they are ‘cool’. Women want a flat panel more because they intrude minimally on a room’s design, space and aesthetics.

Women

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

also tend to be influenced by safety and security more than male customers. Make use of this on your site and in your store.

.

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

For all of you that sell in traditionally male dominated segments, explode your sales by making sure you don’t neglect women.

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

Companies that provide selfless information through particip

This strategy will open new horizons to your business and allow you to generate more referrals from satisfied women customers

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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As you fight the battle to hold on to older workers and their knowledge, more and more companies are forgetting about helping another group of workers. What can you do to keep from losing this other important group?

Listening to a speaker can be very tiring because our minds are distracted quickly due to a low concentration span, attending a presentation is a format we know and this familiarity keeps us less alert and taking in new information can drain our energy. Therefore to know how to grasp and hold the audience’s attention is vital to get your message across. How can you as a speaker make it easier for your audience and yourself?

Do you know how many of the opportunities in your pipeline you actually close? Do you know why some sales reps close 80% of their opportunities, but the average rep only closes 20%?

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