Useful Advices - Business

Introduction

Successful radio advertising campaigns require that certain fundamental pieces of information about the product (or service), customers, and business be clearly understood by everyone involved in the effort. Sales, marketing, customer service and the radio advertising agency should all have the chan

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

ce to provide input from their perspective, and all of these groups should be operating with the same set of complete information.

Without this foundation of common understanding, the chances of your radio advertising campaign being successful are diminished. Why? Because you slip from a methodical, disciplined approach to build

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

Examples of combination products may in

ing your business profitably with direct response radio advertising to a more haphazard and risky approach that relies on luck. Successful direct response radio advertisers earn their way to great wealth by taking a disciplined approach. The questions we'll outline below are to be answered as part of just such a disciplined appro

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

ch and they are meant to be addressed during the pre-launch phase of building your radio advertising campaign.

In many respects, building a successful direct response radio advertising campaign requires a mentality akin to that of a researcher. Researchers uncover knowledge about a particular topic. The first step in research is

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

identifying the problem you are trying to solve. In the case of direct response radio advertising, you are trying to solve the following "problem(s)":

- Creative: which advertising appeals will result in the highest number of most qualified leads?
- Media: which target audiences are most responsive to the product's advert

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

Combination pro

sing appeals?

Answering these questions will minimize your media CPO, thereby maximizing your radio advertising (and overall business) profitability.

The list of questions that follows is aimed at guiding any potential radio advertiser down the road to solving the above "problems". The answers to these questions are the input i

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

nto creating and testing a hypothesis (again, thinking like a researcher) about which combination of radio advertising appeals and radio media targeting will result in the most profitable radio advertising campaign.

The 10 Key Questions

Note: we'll use the word "product", however the following thought proce

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

ss is also applied to services, events, and other items that are promoted in direct response radio advertising campaigns.

Product Questions:

1. What benefits does the product provide to its users? What problems does it solve? In what ways does the product make the user's life better? Be sure to identify ke

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

claims that can legally be made about the degree of benefits to the product user.

2. How does the product work? It is important to note that this is input information only. One of the biggest mistakes in creating advertising of any type is an over-emphasis on features and not benefits. Discussing how the product works can lead

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

advertisers astray, into the world of the "neat" factor and out of the world of what matters to your target customers - what the product does for them.

3. How is the product different? Be sure to compare the product to alternatives or substitutes, as well as to competing products. Also include information about any patents, trad

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

marks or clinical test results.

4. What offers may be used in the radio advertisement? For example, is there a free trial, free shipping, or a bonus quantity with purchase?

5. What are the distribution channel(s) that will be used for the product? (Web, retail, direct)

6. Are customer testimonials, expert endorsements, or a co

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

Following aspects would a

rporate spokesperson available for use in the radio ad?

Customer Questions:

Answering the following questions requires at least some customer research. It may be primary research (for example, conducting a qualitative focus group or a quantitative survey), or secondary research (reviewing qualitative or quantit

dd to the challenges in developing combination products:

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

ative research compiled by others about your product category that you can apply to your specific situation). Don't overlook your current customer base and results from prior tests as a source of valuable customer information, but be aware that this data will not be randomly collected (i.e. to some degree your current customers w

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

ll be a reflection of the advertising that brought them in). In any case, research will not spell out the exact appeals that will be successful for your specific direct response radio advertising campaign, which is why in-market testing occurs in the next phase.

7. Who is the target consumer segment? Describe them in terms of ag

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

e, sex, socioeconomic, demographic, geographic, or other relevant dimensions.

8. What are the strongest motivations for this customer segment to buy this type or class of product? What does the customer hope to gain by purchasing, and what loss would the customer avoid by purchasing?

9. What objections or excuses might the cust

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

mer use to delay or avoid buying the product? What is the answer to each of the objections or excuses?

Business Question:

10. How will you measure success? This a very important question and the one most often unanswered going into the testing phase. Ideally, you will know exactly what media CPO (cost per order

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

Professional from academic institutions, pharmaceutical industries, health care indust

) is required for you to achieve break-even profitability. Armed with this information, you'll have a context with which to view the results of advertising tests. Without it, you are in danger of either pulling the plug on a profitable campaign or rolling out an unprofitable campaign.

Conclusion

Once you've ans

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

wered these questions, you're ready for the next step. It's time to pull together a well-rationed hypothesis about which set of appeals, distilled into a creative approach that ultimately ends up as a radio ad, is likely to work the best. This is a challenging phase because it entails dealing with a large amount of information an

.

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

a large number of alternatives. Additionally, identifying appeals is only the first step - articulating those appeals is also very important and nuanced. Most often your radio advertising agency will conduct this exercise because they're experienced in dealing with these challenges, but it should be iterative with the client tea

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

Companies that provide selfless information through particip

m.

Almost always it turns out that more than one creative approach seems to make strong sense. This is appropriate because you will ultimately test a minimum of two approaches (two different radio ads) since what we are trying to learn is which approach works best. As this is a comparative exercise, it requires comparing two ads

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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