Useful Advices - Business

The experts say you need benefit statements in all your marketing – on your website, on your brochures and flyers, in your 30-seco

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

nd introduction and in all types of advertising. This is true.

There could be so many benefit statements for your business, how

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

Examples of combination products may in

do you choose?

Marketing is the process of communicating to people about your product or service so they can make a purchase if t

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

hey perceive they want or need it. If they are not aware of it, don't know how to purchase it or don't perceive it fulfills a wan

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

t or need, there can be no sale.

The key word in that paragraph is ‘perceive'. Your marketing, and therefore your benefit statem

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

Combination pro

ents, should focus on the perception in the marketplace, not necessarily the actual benefit.

For example, in my business one of t

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

he greatest benefits many of my clients realize AFTER working with me is confidence. My clients' confidence in their business abi

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

lities sometimes skyrockets. So why don't I market based on this? Confidence is so important in business ownership. Prospective

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

customers will often decide against making a purchase because they sense a lack of confidence in the seller.

When prospects are

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

considering hiring me, they do not perceive that they have a confidence problem! Therefore, if I am marketing to my target market

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

based on increasing their confidence, my marketing will fall flat. It will not connect with my target at all.

My target market

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

Following aspects would a

comes to me mostly because they lack certain business knowledge or are overwhelmed by all the business stuff and need an advisor a

dd to the challenges in developing combination products:

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

s well as a coach.

Here's another example. A couple is having love life issues in their relationship, and a couples therapist is

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

looking for clients. The actual problem may be that the man is not saying anything remotely romantic, and the woman is too criti

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

cal. They don't see it that way before they have gone through the therapy, so if the therapist markets herself based on men and w

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

omen not communicating well, she won't get these clients.

If, on the other hand, the therapist markets herself based on improving

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

Professional from academic institutions, pharmaceutical industries, health care indust

couples' love lives, that will make an emotional connection and pique interest because that's the perceived benefit they need. T

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

he actual benefit they receive is improved communication, but using that benefit in her marketing will not entice her target marke

.

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

t to call.

Here's your homework. List all of the benefits of doing business with you, then reexamine them to identify perceived

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

Companies that provide selfless information through particip

vs. actual benefits by putting your feet in the shoes of your target market. Go get'em tigress!

Copyright (c) 2007 Audrey Burton

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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Using an online registration system to register attendees for your next event can significantly diminish your workload and increase attendance, but automated follow-up by email is essential for the success of your event.

Bodacious Career builders know that in today’s business world value lies in relationships. Everything is introduced, evaluated, negotiated, bought, sold, resolved, ended, and enjoyed based on relationships. Even with all this high-tech stuff, it’s still all about people.

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