Summary - Business

No matter what kind of service you give, it is important to build costumer loyalty for it would yield to generating profit and market sustainability. But since it stil

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

l depends to the costumers whether they choose your product or services over another for a particular purpose, building costumer loyalty is a goal you have to work har

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

Examples of combination products may in

d on to achieve. However, it is not that difficult. By making your own correct perspective, realistic goals, and proper actions, you will be able to make a generous nu

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

mber of loyal costumers that generate a pretty competitive profit. Here are the important tips:

Answer what the costumers need. Knowing the pulse of the market will g

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

ive you the idea of the needs of the costumer. Once you know this, you can adapt your product or make a program that will answer what they want.

Improve costumer serv

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

Combination pro

ice. People love to feel they are special. And they would most likely to choose business where they can feel that kind of treatment. Go an extra mile by providing a go

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

od costumer service so that they will love going back and retaining their relationship with your business.

Remember the 20-80-rule. 20 percent of your costumers gener

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

te 80 percent of the sales. So if you are trying to develop costumer loyalty, do not go too far. Concentrate on that 20 percent. Not only you will give more time on ea

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

ch of them, you don’t have to worry about spending large amount of dollars trying to attract many people that would only give you small profit.

Stay at your boundarie

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

s. This means that you don’t have to extend your fences to build costumer loyalty. As a saying goes, "You cannot control what you cannot reach." Take extra care of you

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

r current customers. Focus on people who are potential loyal costumers. Expand your territories only if you have succeeding on doing this.

Train Employees. Empowering

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

Following aspects would a

your employees to make decisions can benefit your costumers and your business big time. Train them to interact with the costumers.

Work on employee loyalty. If your

dd to the challenges in developing combination products:

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

employees enjoy doing their job, they will enjoy relating to your costumers. The good vive that your business is creating will be trickled down to the costumers throug

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

h your employees.

Be flexible. Solve the problems of your costumers. Do not just say it's "company policy". This will certainly draw away costumers and find another b

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

siness that would be more "understanding".

Be reliable. If you say the product will be there on Friday, then deliver it on Friday. Be true to your word. If something

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

goes wrong and the deadline will not be met, compensate your costumer's inconvenience by calling and informing them of what happened.

Give customer incentives. Give t

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

Professional from academic institutions, pharmaceutical industries, health care indust

hem reason to return to you and buy your product continuously; something that they can look forward to. There are many costumer incentives you can think of to build up

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

costumer loyalty.

Improve your costumer relation through communication. Keep showing your costumers that they are important to you. It can be though a monthly flier,

.

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

email newsletter, or a holiday greeting card. The point is, the more personal your relation to your costumer is, the more they can remember that you exist.

Lastly. K

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

Companies that provide selfless information through particip

now their names. You have to get personal when relating to your costumers. Address them with their names. It would certainly make them more at home and return frequent

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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