Tags |
|
|
Links |
|
|
Main Subject - Marketing Genius - Don't Go Broke While You're Getting Rich
If a person is able to invest millions of dollars and then goes on to pour it into a business, it may be able to build a successful enterprise. Similarly, if a company has a large amount of capital to spend on marketing, there is a good chance of a successful result.
But where is the genius in this approach? And how can it help the perso
But where is the genius in this approach? And how can it help the perso
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
n or business that doesn’t have a million dollars to sink into a start-up business?
Anyone can buy customers given enough money or credit, by spending huge amounts of money on advertisements and promotions. Anyone can build their business if given unlimited capital, and many have, using millions of dollars in some instances, of stockhold
Anyone can buy customers given enough money or credit, by spending huge amounts of money on advertisements and promotions. Anyone can build their business if given unlimited capital, and many have, using millions of dollars in some instances, of stockhold
; 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
ers’ equity in the process.
There is however, another way to go about marketing your business. It is applicable to businesses with limited capital, and also those that have vast cash reserves and wish to continue to grow. It doesn’t require you to spend a lot of money, rather it relies on your knowledge about what motivates people to buy
There is however, another way to go about marketing your business. It is applicable to businesses with limited capital, and also those that have vast cash reserves and wish to continue to grow. It doesn’t require you to spend a lot of money, rather it relies on your knowledge about what motivates people to buy
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
something or choose one product over another.
Once you have this knowledge you can successfully enter many if not most fields without spending a fortune on advertising.
You can call this marketing without money, cheap marketing, marketing on a shoestring, clever marketing, or better yet, it is actually genius marketing. It is genius ma
Once you have this knowledge you can successfully enter many if not most fields without spending a fortune on advertising.
You can call this marketing without money, cheap marketing, marketing on a shoestring, clever marketing, or better yet, it is actually genius marketing. It is genius ma
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
rketing no doubt, but you don’t have to be an Einstein to learn how to do it.
All you need is willingness to cast aside pre-conceived ways of doing business and to follow the examples of others who have achieved their marketing goals without spending a fortune. It comes down to setting aside traditional marketing philosophy and learning
All you need is willingness to cast aside pre-conceived ways of doing business and to follow the examples of others who have achieved their marketing goals without spending a fortune. It comes down to setting aside traditional marketing philosophy and learning
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
a technique that goes far beyond such outdated methods.
Let me give you an example of just how easy some of these methods are. I have a small story included on my website, where a large firm had just spent $110,000 on a three month advertising and marketing campaign, blitzing a particular city in the United States. They did not experienc
Let me give you an example of just how easy some of these methods are. I have a small story included on my website, where a large firm had just spent $110,000 on a three month advertising and marketing campaign, blitzing a particular city in the United States. They did not experienc
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
e any difference in volume of business and actually believe that they did not earn an extra dollar from the exercise.
I had just given a three hour seminar to 2,000 people in the magnificent Hilton Waikoloa on the Big Island in Hawaii. It was 1997, at a 5 day corporate retreat for a major American real-estate group. They were long days a
I had just given a three hour seminar to 2,000 people in the magnificent Hilton Waikoloa on the Big Island in Hawaii. It was 1997, at a 5 day corporate retreat for a major American real-estate group. They were long days a
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
nd I was heading back to my suite at about 2:00 a.m. While waiting at the elevator, a very jovial character standing beside me jumped to life with the statement:
‘OK Mr. Marketing Guru, I loved your seminar, but if you’re so crash hot, what do you think you could do specifically for me, that would make such a big difference in so short a
‘OK Mr. Marketing Guru, I loved your seminar, but if you’re so crash hot, what do you think you could do specifically for me, that would make such a big difference in so short a
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
period of time?’
The elevator doors opened and we got in, and I wanted to be brief, as I had been up since 4:00 a.m. He was the managing partner of a large independent legal firm. I asked him three or four pertinent questions in just a few minutes. Then I told him that of would give him just one idea in about 30 seconds. I went on to t
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
ell him that I thought if he could not make an extra $1,000,000 from it in the next 12 months, then he is either inept at his profession, or otherwise I am inept at describing the strategy ……… maybe because I am somewhat tired.
He listened intently at what I had to say which took me about one minute, I must admit, because I got so excite
He listened intently at what I had to say which took me about one minute, I must admit, because I got so excite
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
at the possibilities for this firm. Both he and his wife slowly looked at each other and their bottom jaws almost hit the floor. How much could you make from that one idea Johnny, I asked ……. maybe $1,000,000????
He remained silent for a moment, then looked at me and said no---lots more than that! I immediately asked him how much it wou
He remained silent for a moment, then looked at me and said no---lots more than that! I immediately asked him how much it wou
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
ld cost to get that extra income. He thought for a moment and said, maybe $2,000. I agreed.
We briefly exchanged business cards and the following day arrangements were made to visit his offices in Florida for a week, the following month.”
While I ended up implementing a vast range of marketing tools at little or no cost, the important t
We briefly exchanged business cards and the following day arrangements were made to visit his offices in Florida for a week, the following month.”
While I ended up implementing a vast range of marketing tools at little or no cost, the important t
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
hing was being able to show how this new marketing mindset works. It allows all the staff to get involved and continue implementing their marketing without having me in the office all the time.
Over the last 25 years I have seen many businesses go broke simply because they sunk a lot of money into advertising campaigns that did not work.
Over the last 25 years I have seen many businesses go broke simply because they sunk a lot of money into advertising campaigns that did not work.
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
My approach is to look at what everyone else is doing, and then do it differently. Marketing is not a “campaign”.
Marketing is a way of business life.
It is something you do all the time, whether you realize it or not. It’s a mindset and it is easy once you understand that. Its lots easier than having to regularly sit down and strategi
Marketing is a way of business life.
It is something you do all the time, whether you realize it or not. It’s a mindset and it is easy once you understand that. Its lots easier than having to regularly sit down and strategi
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
ze a “campaign”, or to spend a fortune on direct mail, or advertising and hope for the best.
Instead of relying on a big budget to get results, you can reach your target audience without spending anything or by spending very little. This applies to the one-person start-up as well as to large corporations, which oftentimes needlessly spen
Instead of relying on a big budget to get results, you can reach your target audience without spending anything or by spending very little. This applies to the one-person start-up as well as to large corporations, which oftentimes needlessly spen
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
d their shareholders capital on wasteful marketing schemes.
Just to give you an example, you can get tons of free advertising by writing articles related to your field of activity and publishing them on other websites and in the electronic newsletters of other organizations. You may be a start-up with ten people on your own mailing list,
Just to give you an example, you can get tons of free advertising by writing articles related to your field of activity and publishing them on other websites and in the electronic newsletters of other organizations. You may be a start-up with ten people on your own mailing list,
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
but if you can get your article published on a list that has 100,000 readers then your new business will get a shot in the arm.
This gives you substantial credibility that no amount of money can buy, and you gain leverage on both your time and your money. These are two crucial elements to any marketing philosophy, and the first two that
This gives you substantial credibility that no amount of money can buy, and you gain leverage on both your time and your money. These are two crucial elements to any marketing philosophy, and the first two that
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
I discuss with every single client.
There are a lot of people spruiking marketing materials today, and one of the problems with this is that this information-overload often leads to confusion in the mind of the starting entrepreneur. The answer is get out there and do it …… but you do not need to do too much. You might identify one hu
There are a lot of people spruiking marketing materials today, and one of the problems with this is that this information-overload often leads to confusion in the mind of the starting entrepreneur. The answer is get out there and do it …… but you do not need to do too much. You might identify one hu
.
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
ndred different ways to do some marketing, and then wonder how you do it all. It just seems overwhelming to many businesses, particularly new businesses.
You don’t! Not all at once anyway.
Just start out with enough that you can manage, given your time and resources. Then as that brings success, do more, and so on. This understanding se
You don’t! Not all at once anyway.
Just start out with enough that you can manage, given your time and resources. Then as that brings success, do more, and so on. This understanding se
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
ems so often to elude some of the most astute minds in business. I have for years shown businesses how to achieve considerable marketing success by implementing only as much as they know they can handle, at any one time.
Remember that marketing is an ongoing process (whether you realize it or not) and not a series of structured campaigns
Remember that marketing is an ongoing process (whether you realize it or not) and not a series of structured campaigns
tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.mainsubjects.org.ua/article/24932/mainsubjects-Marketing-Genius--Dont-Go-Broke-While-Youre-Getting-Rich.html">Marketing Genius - Don't Go Broke While You're Getting Rich</a>
BB link (for phorums):
[url=http://www.mainsubjects.org.ua/article/24932/mainsubjects-Marketing-Genius--Dont-Go-Broke-While-Youre-Getting-Rich.html]Marketing Genius - Don't Go Broke While You're Getting Rich[/url]
Related Articles:
Tying A Company Mission and Vision Statement with a Guiding Principal
Harness Your Imagination and Shape Your Destiny
Bookmark it:
|