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Main Subject - Top Five Marketing Mistakes and How to Avoid Them
In this article I’ll share the top five marketing mistakes and how to avoid them. As a strategic business development, PR and marketing expert, I am ofte
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 called in to set up a marketing plan, media plan and a delivery system for companies who wish to use an in-house marketing team rather than a consultan
; 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
. This is absolutely fine with me, except that no one likes seeing their baby turned over to someone without the skills to follow through. So this brings
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
me to the #1 marketing mistake:
1. Number One marketing mistake is handing your business development and therefore the future of your company to a pers
1. Number One marketing mistake is handing your business development and therefore the future of your company to a pers
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
n with no experience in marketing; worse, no experience in your field. In just one example, a top development and construction company turned their marke
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
ting, business development and public relation efforts over to a new graduate—in fashion design!
2. Number Two marketing mistake is to market exclusivel
2. Number Two marketing mistake is to market exclusivel
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
within your own field. An example would be an article in a magazine that only reaches the professionals in your field, not your end user or target clien
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
t, or an ad in a technical or trade publication that only reaches your competition not your end user. You need a comprehensive media plan within your mar
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
eting effort and a targeted method to reach the media that your clients read.
3. Number Three marketing mistake is one-shot marketing. (This is the oppo
3. Number Three marketing mistake is one-shot marketing. (This is the oppo
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
site of the scatter-gun approach in which random marketing shots are fired against a wall to see what will stick.) In one-shot marketing, a company picks
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
a single element from a comprehensive marketing plan and produces this one element as their only marketing effort. This one-shot marketing approach could
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
be a single postcard or letter mailing, a single ad, a single conference or event or a single press release. An effective marketing effort requires a co
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
centrated marketing effort over a period of time, with at least four and up to seven points of contact.
4. Number Four marketing mistake is hesitant or
4. Number Four marketing mistake is hesitant or
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
defeatist thinking. If you are not confident about your market and the value of your products or services, how will you make a positive impression?
5. N
5. N
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
mber Five marketing mistake is to think you must spend money on advertising or you cannot have a marketing plan. There are many low cost or no cost marke
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
ting techniques, and one of the most powerful is the services of a publicist. A publicist seeks no cost placement of your company’s message and services,
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
and can write effective press and articles to be used on your website, on the internet, for your clients and to be sent to the appropriate media.
These
These
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
top five marketing mistakes can be avoided by placing a high priority within your firm on marketing, business development, and public relations. Your in-
.
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
ouse marketing team should either be in top management or have the direct attention and cooperation of top management. If you do not have the concentrate
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
d skill level and time to nurture your firm’s marketing effort, seek a consultant who will deliver these essential marketing services or train your staff
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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