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Stage – ID5: Distribute the Product

This stage includes not only manufacture, quality control, packaging and distribution throughout the product's lifecycle, but also legal, financial, business development, training and other support activities.

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Task Overview

For relatively simple products, successful initial tests will have confirmed the suitability of your product for launch, and the evidence gained will be used for the initial product marketing.

More complex products may need further trials to support their use.

What you need to do:

  • Consider clinical trials to demonstrate improved efficacy and economic appraisals and models (e.g. MATCH analyses).
  • Establish appropriate safety reporting systems to ensure that any adverse incidents are appropriately reported to the company.
  • The value of the product, and therefore the company itself, increases as the volume of positive evidence of clinical and commercial results increases. These may include:
    • Improved patient outcomes.
    • Health system benefits (e.g. evidence of economic benefit or, at least, cost neutrality).
    • Widespread adoption in intended market(s).
    • Vibrant user community with feedback on use and potential enhancement or diversification.
  • With return on the original investment achieved, the company may now possess recognised IP and product revenues that create an appreciable valuation suitable for an Initial Public Offering (IPO). This could further enhance the value of the organisation by providing significant additional investment to fund future growth.
  • Always consider further innovation. There is a risk that a competitor will close the technological gap between a new product of its own and yours, and if you do not innovate your sales are likely to suffer.

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