Social Space - Automotive

Rather than searching for car dealers to sell the used car for you, why don’t you sell it yourself?

Here are the step

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

s for your successful used car listing:

1) Set the price – Determine a competitive market value of your used car. Sec

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

Examples of combination products may in

ond hand car values could be found on your local classified ads for similar cars being sold and on certified used car

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

dealership online.

Determine the minimum price you would accept for possible negotiations. Be aware that buyers do th

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

eir research and having a lower price than others would generate more inquiries.

When your price has been set, consid

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

Combination pro

er the most attractive ad to publicize.

2) Groom the vehicle – For buyers, appearance is everything. Make sure that b

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

efore you place an advertisement; inspect your used car inside and out. To make the most profit, take care of minor an

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

major maintenance issues of the vehicle.

3) Prepare vehicle record – Presenting the buyers with complete maintenance

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

logs and receipts is a powerful selling tool. Prepare paperwork of services done such as oil change, tire and battery

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

replacement and warranties for each.

4) Obtain a car history report – To show that the used car has a clean record w

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

ith the law and past accidents, purchase a car report from your local department of motor vehicles. The biggest fear o

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

Following aspects would a

f buyers is purchasing a used car that has been in a wreck. The car history report would reveal if the vehicle has bee

dd to the challenges in developing combination products:

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

n in a major collision in the past.

5) The advertisement – Ad options include newspaper classifieds, magazines or onl

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

ine listings. However, the most cost-effective and useful tool for marketing is by placing an online ad.

* Photo: Alt

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

ough majority of car listings online do not require photos, eighty-five percent of used car buyers search for car list

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

ing with photos.

* Details: Provide a complete description of your car even if you have uploaded a photo. Use extra d

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

Professional from academic institutions, pharmaceutical industries, health care indust

etails and words that would grab the buyers’ attention. Do not forget to place a contact number to be reached.

6) Sel

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

l – Since you know your car’s worth, negotiate a fair price. To finalize the sale, you should have two copies of the b

.

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

ill of sale, a receipt that transfers ownership of the car, for you and the buyer.

Once you sold your used car, you’l

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

Companies that provide selfless information through particip

l be glad you made the most out of your car listing since there was no car dealer involved and all the profit is yours

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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