Tags |
|
|
Links |
|
|
Business Articles - Ordinary product + Added value = Increased Profits!
Ok, here's the thing....
Everyone that wants to get started buying and selling (either online or offline) is trying to find that 'bargain buy' - something whose wholesale price is 50% less t
Everyone that wants to get started buying and selling (either online or offline) is trying to find that 'bargain buy' - something whose wholesale price is 50% less t
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
han the standard retail price. It is possible to find such products but they are rare and as soon as one person starts selling the item, others will jump on the bandwagon and force the price
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
own.
The fact is that there are few items nowadays with a huge retail markup and worldwide markets such as eBay do nothing to help this situation as there are so many sellers that there is o
The fact is that there are few items nowadays with a huge retail markup and worldwide markets such as eBay do nothing to help this situation as there are so many sellers that there is o
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
nly one way for prices to go and that is down.
So instead of taking the easy option and trying to simply purchase an item at one price and sell it on to someone else for double (which involv
So instead of taking the easy option and trying to simply purchase an item at one price and sell it on to someone else for double (which involv
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
s little skill, thus anyone can do it meaning the end result is that after a very short time you won't be able to double your money because of competition), you need to try and find a way to
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
ADD VALUE. In other words, buy a standard product and then modify/change it in some way to make it more attractive to buyers. This will enable you to make a larger profit margin and depending
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
upon what you are doing to the product, may help reduce the level of competition you have to face.
Let me give you a couple of examples:
How about buying an ordinary, plain t-shirt (wholesa
Let me give you a couple of examples:
How about buying an ordinary, plain t-shirt (wholesa
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
le cost for t-shirts is as little as $1.80/?1.00 each) and then print something on it. If you are imaginative with what you print, you may well be able to sell the 'new improved' t-shirt for
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
25/?15. In fact, I have a friend that is doing this exact thing! He came up with a unique and original idea to print on t-shirts and now prints his own t-shirts using a home-made screen print
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
ing press (seriously, he got the instructions off the Internet and actually built a cheap press himself!) All of the t-shirts he sells are either black or blue and he only prints in white - a
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
surprisingly simple idea but one that is proving to be fairly lucrative. Of course, it would be unfair to divulge exactly what he is printing on the t-shirts but there must be thousands of po
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
ssibilities that haven't yet been thought of.
There are many other 'arty' type things that you may be able to do if you have the necessary ability but even if you are not artistic, you shoul
There are many other 'arty' type things that you may be able to do if you have the necessary ability but even if you are not artistic, you shoul
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
n't let that hold you back....
I often get emails from people asking where they can buy blank CD-Rs to resell. Fact is that the profit margin on blank CD-Rs is tiny (in fact, unless you can
I often get emails from people asking where they can buy blank CD-Rs to resell. Fact is that the profit margin on blank CD-Rs is tiny (in fact, unless you can
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
sell thousands and thousands every week, I wouldn't waste your time even looking at this market) HOWEVER, take a blank CD-R and put something of value on it and suddenly that disc is worth a
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
hole lot more than it was blank. Of course, I am not talking about putting pirated material on the discs but how about digital products that you have either produced yourself or that you have
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
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
purchased resale rights to? To give you some idea of how far you can go with this idea, I recently purchased a training course that was supplied on five CDs. The value of the CDs and cases w
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
s less than $2.00 but I paid over $800 for the course!
Why? Because I wanted the content. I knew that the content was far more valuable than the CDs themselves and I knew that they were goin
Why? Because I wanted the content. I knew that the content was far more valuable than the CDs themselves and I knew that they were goin
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
g to help me increase my own businesses profits (which they did and I recouped my investment within a week of studying and acting on the course material).
Once you have identified an opportu
Once you have identified an opportu
.
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
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
ity such as those outlined above (and there must be thousands and thousands of them), start thinking about how you can get someone else to do the work for you. The goal of a true entrepreneur
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
should be to free up his/her time and use it to come up with new ideas or to promote existing ones - he/she shouldn't be sitting in the garage printing t-shirts!
Copyright 2004 Richard Grad
Copyright 2004 Richard Grad
tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.businessarticles.org.ua/article/51217/businessarticles-Ordinary-product--Added-value--Increased-Profits.html">Ordinary product + Added value = Increased Profits!</a>
BB link (for phorums):
[url=http://www.businessarticles.org.ua/article/51217/businessarticles-Ordinary-product--Added-value--Increased-Profits.html]Ordinary product + Added value = Increased Profits![/url]
Related Articles:
Have You Ever Thought of Joining or Forming a Consortium?
Sell the Benefits in Your Advertising
Sell More Products and Services with Testimonials
Bookmark it:
|