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Useful Advices - Pulling the Trigger Making Your Business Smoking Hot in 2007
How Can I Increase Business? A client once came to me having agonized for six months over a brochure. Helplessly, the manager, (a professional engineer), thrust the paper towards me, as he con
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
fided that hed been dragged in from the field to make this happen. The poor little thing was all bloody with red-lined marks (the brochure, not the client), but no one had actually finished t
; 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
e copy, and all were afraid that it might not be just the thing they needed to bring in new business.
What went wrong, and how can you make your business smoking hot in 2007? The number one
What went wrong, and how can you make your business smoking hot in 2007? The number one
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
answer is by pulling the trigger. Define all you need to do. Start with one thing, add another and repeat what works.
Please understand that no business ever lived or died through one single
Please understand that no business ever lived or died through one single
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
arketing effort. A single postcard, letter or brochure is not a make or break marketing effort. It is but a whisper in the wind.
Remember, lather, rinse, repeat? A marketing effort is like th
Remember, lather, rinse, repeat? A marketing effort is like th
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
t. You have to repeat it.
Understand the elements or parts that go into a marketing effort. Here a just a few:
1. Website(s)
2. Business Cards
3. Proposals and Contracts
4. Bi
Understand the elements or parts that go into a marketing effort. Here a just a few:
1. Website(s)
2. Business Cards
3. Proposals and Contracts
4. Bi
ucts have become life saving products for the pharmaceutical companies who doesnt have many innovative molecules in their product pipeline and have been inc
os
5. Company Mission Statements
6. Brochures
7. Portfolio
8. Testimonials
9. Direct Mail
10. Postcards
11. Video
12. Advertisements
13. Speeches
5. Company Mission Statements
6. Brochures
7. Portfolio
8. Testimonials
9. Direct Mail
10. Postcards
11. Video
12. Advertisements
13. Speeches
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
>
14. Press Releases
15. Media Articles
16. Branding efforts
17. Awards and Contests
18. Sponsorship
19. Case studies, Article and Reprints
20. Promotions, Event
15. Media Articles
16. Branding efforts
17. Awards and Contests
18. Sponsorship
19. Case studies, Article and Reprints
20. Promotions, Event
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
, Offerings
21. Strategic Alliances
22. In person Contact
23. Database Creation and Management
24. Events and Event Participation: Seasonal, Charitable, Vendor Related, Pro
21. Strategic Alliances
22. In person Contact
23. Database Creation and Management
24. Events and Event Participation: Seasonal, Charitable, Vendor Related, Pro
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
fessional, Local and National
Then, you have to use the tools you have created. Invest in an Overall Business and Marketing Plan, and make sure it is very specific and complete with action st
Then, you have to use the tools you have created. Invest in an Overall Business and Marketing Plan, and make sure it is very specific and complete with action st
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
ps to accomplish each item.
Ask, who are your customers? Then create a buyer or client profile - my typical buyer or client is [age], profession(s), and will want or need this service or prod
Ask, who are your customers? Then create a buyer or client profile - my typical buyer or client is [age], profession(s), and will want or need this service or prod
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
ct for this reason. We solve this problem for them and it creates this growth for them. Why will they are should they buy this from you? What do you do to show trustworthiness and competence?
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
How do you deliver long or short term value?
What are all the ways you can reach your clients? What are you currently doing? Not doing? Promote your business and follow up through websites,
What are all the ways you can reach your clients? What are you currently doing? Not doing? Promote your business and follow up through websites,
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
rochures, cards, portfolios and case studies. Promote through in person meetings only when you are ready with all the materials and answers as to the unique problem you solve.
Make consistent
Make consistent
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
contact with your target client and follow up using several means of contact a minimum of four times a year. Use a combination of direct mail, brochures, cards, tips/lists/surveys, articles of
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
interest, in person visits, project and business tours/open houses and personal notes. Dont forget to include special offers and tie-ins to new products or services, with new items for purch
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
se to complement your offerings.
Create your own media campaign through press releases, article reprints, tip sheets and surveys. Write articles and seek publication.
Build third party relat
Create your own media campaign through press releases, article reprints, tip sheets and surveys. Write articles and seek publication.
Build third party relat
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
onships with other professionals, vendors, suppliers, and related specialized professions. Be highly visible and go where your clients go; get involved in organizations for business and recrea
.
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
tion. Be active in your community in the groups they and you find valuable.
Devise a month by month marketing schedule. Learn how to objectively test your efforts and measure your results. Sc
Devise a month by month marketing schedule. Learn how to objectively test your efforts and measure your results. Sc
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
ap what does not work and replace it with something that more than likely will, because you have analyzed and fixed what went wrong. Celebrate what works and repeat it. And never, ever give up
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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