Useful Advices - Business

There are many oh so many different ways to market a product or a service. Among these varied techniques, there are many good ways to generate sales and customers. But as many are the good methods, mark

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

eting also has its fair share of turkeys. Cold calling is one of the techniques in marketing that is subject to scrutiny in many ways. Marketers and other organizations are beginning to doubt the effica

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

Examples of combination products may in

cy of cold calling.

Cold calling is also called blind calling. The marketer in this case calls up or contacts a ‘random’ person who might, if the marketer is lucky, want the product or service want to b

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

y into what the marketer is offering. Cold calling is pretty much like blind guessing who your next customer will be. The caller then does his pitch talk to this person even if he or she has not been re

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

ferred to by anyone.

This method of marketing has also been used by honest marketers and has also resulted in good customer relationships. However, cold calling has fallen out of fashion due to the fact

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

Combination pro

that it has been well abused by many an unscrupulous marketer.

Advantages? It allows you to tap into a potentially unsaturated market. It allows you to create a new network of referrals, especially if y

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

ours is running dry. But do the advantages outweigh the disadvantages?

1. Irritates the investor

Cold calling has gained the ire of many a customer. This is because many of the cold callers usually co

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

duct their business at nighttime. This is very inconvenient to potential clients because they generally want this time to be private. And dragging a person out of bed in their pajamas to talk about busi

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

ness is as irritating as it gets.

Many marketing firms employ boiler rooms to conduct cold calling. Boiler rooms are a team of cold callers whose specialty is spewing out very persuasive scripts on why

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

ou should buy into their product. Unfortunately, these callers tend to be abusive, and pugnacious. Many of the clients they get only took up their offer because they were coerced into doing so. Their mo

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

tto is: as long as the person is on the line, there is still a chance to badger him or her. This is not the kind of marketing that gains mutual trust and respect.

2. Unfocused Marketing

Cold calling ma

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

Following aspects would a

rketing is unfocused marketing. If you cannot focus your energies on better prospects, you might find yourself using up resources on people who are not really interested in your product. It would be bet

dd to the challenges in developing combination products:

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

er to use mailing lists or profiling to know which customers would most likely avail of your offers.

Cold calling sometimes relies on pure luck or stubbornness to get their clients. Unscientific. Unreli

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

able.

3. The law

Believe it or not the law has made steps to safeguard clients from the wrath of cold callers. Law dictates that cold callers only call during working hours. They are no longer allowed

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

to call from 8:00 P.M. onwards. Clients can now submit complaints to the authorities if your cold callers become abusive or disrespectful. For a business to be successful, you would like to avoid tangle

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

s with the law such as this.

Unfortunately there have been many reported scams in regards to cold calling marketers. As said in the first reason. These callers are usually annoying and abusive. The peo

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

Professional from academic institutions, pharmaceutical industries, health care indust

le you call may take offense at this and report your company to the authorities.

4. Loss of Trust

Since cold calling already has a bad reputation, affiliating with this kind of service could have a nega

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

tive effect on the image of your business. If you want your business to be reputable, you will have to use reputable methods to gain the confidence of your customers. Remember that you are not merely wis

.

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

ing to siphon money off of them, you are also trying to establish a mutually beneficial relationship with them.

The Verdict

Cold calling can still be a good way to broaden your client network. However,

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

Companies that provide selfless information through particip

the intrinsic dangers that it displays may not be very appealing to many companies. Before even considering cold calling as an option, take a look at the other marketing strategies that are in existence

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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