Useful Advices - Business

Marketing by Prospecting™ - a system of using marketing tools with prospecting skills.

It is a strategy designed primarily for the small to medium sized business that doesn’t have a large marketing

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

budget. Also, for divisions within large companies that simply don’t get the big marketing dollars.

Marketing by Prospecting first involves preparing the variety of marketing tools we use to grow

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

Examples of combination products may in

our business. Then, the means we use to get these marketing tools in front of our potential customers is Prospecting skills.

Because the lines between Marketing and Prospecting tend to blur quickl

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

, why not just face facts - our Marketing work requires Prospecting skills -hence, Marketing by Prospecting.

By the way, the reverse also has implications here, Prospecting by Marketing©, but we wi

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

ll address that somewhat differently, more on that later.

As I have been writing for the last few weeks, our efforts for Prospecting in the Global Marketplace involve all the tools used in both our

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

Combination pro

marketing and prospecting programs.

If you have a budget for running TV or mass media campaigns, this material is not for you.

By Marketing we are trying to get the world to know about the product

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

s and services we offer.

By Prospecting we are trying to reach the individuals in the world who can buy our products and services.

With small budgets, Marketing by Prospecting can be a very effect

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

ive use of our marketing dollars.

The marketing materials tools that we create and use are usually – Flyers, Brochures, Pamphlets, Newsletters, Websites, and even PowerPoint presentations.

Two add

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

tional Marketing by Prospecting tools that you should consider areArticle writing and Public Speaking.

Writing articles and having them published is really easy these days with the internet. Wri

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

te about the various ways your products and services are being utilized to the benefit of your customers.

There are dozens of web article submission services that will publish your articles and pro

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

ide them to e-zines along with your contact information including your website.

This may be the perfect way to get published, but realize there are 1,000’s of others doing this, so we aren’t alone

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

Following aspects would a

in this market. But it does get your name and information out there. I have had 15 articles published on 6 different submission sites in the last week and they are popping up all over the place.

dd to the challenges in developing combination products:

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

I entered my name in Google, and found a lot of my articles listed. I don’t have a feel yet for what this will generate business wise, but it is another marketing tool and it is absolutely FREE.

I

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

you are able to get published in the “old style” standard media, newspapers and magazines I suggest you take advantage of them. I know these take time and effort, but pursue this route if you like

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

.

The web submission can be done right now, so give both a shot.

Speaking to association meetings, trade show conferences, corporate meetings, and other events may not be for everybody, but it is

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

tool I personally really like.

You will need to prepare a speech, of course. Then your marketing materials will consist of a brief overview of the speech and short bio telling why you are the exp

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

Professional from academic institutions, pharmaceutical industries, health care indust

ert on this subject they should hear. Then you will need to use your Prospecting skills to get that one page document into the hands (or onto the computer screen) of the meeting planner, program ch

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

airman, or who ever books the speakers.

Start off with small local groups, maybe ones in which you may be a member.

So there you have it, the idea of Marketing by Prospecting. Hopefully it is som

.

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

thing we can all use to grow our businesses using the tools of both skills. We will continue with this discussion in the coming weeks.

Let me know your thoughts and ideas so we can all share in thi

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

Companies that provide selfless information through particip

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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