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Marketing is the advertising, selling, and branding of products or services. All businesses perform some level of marketing. There are thousands of marketing books, but how do you sift through them all? Per

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

haps you can start with Marketing For Dummies? Whichever way you or your business perform your marketing functions, it is always useful to be aware of the latest marketing terms and definitions. Here is one

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

Examples of combination products may in

big list of marketing terms and definitions that can be useful for marketing professionals and dummies alike:

Audience Attention Probability: Different consumers will pay more attention t

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

o advertising in different types of media. Audience attention probability is the degree to which a target consumer is probable to pay attention to an ad in various forms of media.

Below-the-Line Adv

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

ertising: Advertising which doesn’t use any of the traditional advertising media – television, radio, cinema, press, outdoors. Below-the-lone advertising can include such things as internet advertising,

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

Combination pro

sponsorships, and direct mail.

Brand Leveraging: Using an already successful brand name on different products not already associated with that brand.

Consumer-Generated Advert

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

ising: Regular people create ads for businesses. Helped in part by the rise in social media, people are creating their own ads and some have even run as commercials during the Super Bowl.

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

eMarketing: Marketing via the internet, using such tactics as search engine marketing, banner advertising, affiliate marketing, and email marketing.

Experiential Marketing: The marketin

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

g message engages the consumer by interacting with her and engaging her senses to appeal to both emotional and rational buying triggers.

Follow-The-leader Marketing: A marketing strategy wh

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

ere a smaller firm follows, or does what, a market leader does. This saves the smaller firm on costs associated with doing its own market research.

Four P’s: Marketing is traditionally segm

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

ented into four different areas, each starting with the letter “p” – Product, price, placement, and promotion.

Guerrilla Marketing: Made popular by marketing guru, Jay Conrad Levinson, Guer

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

Following aspects would a

rilla Marketing is the use of unconventional and low-cost means of performing marketing for your business.

Pareto Principle: Also referred to as the 80/20 rule – 80% of your sales volume co

dd to the challenges in developing combination products:

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

mes from 20% of your customer accounts.

Prestige Pricing: The practice of setting a higher than normal price for a product because some consumers will associate a higher price with higher q

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

uality.

Product Placement: Often referred to as “product integration” or “brand integration” it is a form of advertising where products are paid to be inserted seamlessly into the media lik

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

e movies, television shows, books, and radio. A recent example of product placement can be seen in most episodes of The Apprentice with Donald Trump.

Sales Leads Generation: The practice 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

prospecting for targeted customers that would be interested in purchasing your products or services.

Sales Prospecting: targeting of "prospects" and the initial communications with them in

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

Professional from academic institutions, pharmaceutical industries, health care indust

the hopes that these communications will eventually lead to a closed sale and a new client or customer.

Selective Selling: A strategic marketing tactic where you limit the channels that se

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

ll your products or services, making them more exclusive.

Self Promotion: Solo business professionals often engage in self promotion and self promotion is the promoting, advertising, market

.

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, and branding of yourself.

Viral Marketing: A marketing message that grows exponentially as people keep passing it on to friends and business associates.

Word-Of-Mouth Mar

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

Companies that provide selfless information through particip

keting: A buzz marketing technique where marketers attempt to get consumers to do their advertising for them by making their products something that consumers will want to freely talk about.

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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Where is the logical place to begin any marketing effort? It’s both inside and outside your own business front door. Start at this key advertising spot before thinking about any other.

One of the biggest mistakes most entrepreneurs make is becoming emotionally controlled by factors that are totally OUT of their control. Such as: an impossible prospect, market trends, someone else's ultimate decision, attempting as 1 person to do the work of 5, unexpected cancellations, delayed transactions, other people's attitudes or opinions. And the list goes on - and on - and on - and - I think you get it. Have you ever had that experience? I thought so; here's the point - STOP IT!

Businesses can sometimes fail. Wrong investments, fraud, crime, or natural disasters can take a toll on businesses. The recovery process depends on your disaster preparedness and business disruption and continuity plans. This article discusses how to keep a plan in place for business disruption and how to make a quick recovery if your business fails.

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