Main Subject - Business

Are you one of those business owners that tries to absorb every single marketing technique under the sun?

Do you feel overwhelmed with information? Paralyzed by inaction

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

?

Maybe your trying too hard. You heard me correctly...trying too hard to market your business.

Why?

There are several reasons you

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

Examples of combination products may in

might be trying too hard:

Lack of focus and determination on the one or two techniques that are actually working and developing those campaigns

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

until you have tested them to maximum results. This lack of focus, usually due to being exposed to the "next big thing" in marketing, is a killer for businesse

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

s everywhere.

You feel that you must market on some sort of "advanced level" to be competitive. You don't, the basics always work, and

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

Combination pro

work well. Most of my coaching clients have businesses that have increased profits drastically just by "going back to the basics" in their marketing approach. <

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

/li>

There is simply too much information out there. Let's face it, you are exposed to thousands of different messages, bits of information, and the l

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

ike everyday. We go back to focus here, but from a different perspective...filter your daily intake of information to no more than three to five primary

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

sources per day, period. Use this information to it's best...and if it seems to fail you, simply replace ONE information source at a time that needs replacing. Maintain y

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

our three to five primary sources and let the rest be secondary (each magazine counts as one source of information). I use three magazines and two main i

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

ternet resources as my primary resources.Now on to today's marketing secret.

Keeping with the "trying too hard" theme here...many of

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

Following aspects would a

my clients started out asking me:

"Joe, how do I know what marketing technique to use for my market/business/website/etc...?"

To which I reply:

&quo

dd to the challenges in developing combination products:

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

t;Ask your market."

To which I usually get the response:

"Huh?"

There are a number of ways to do this. Each one of these techniques is a lesson

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

in and of itself, so I cannot give every little detail here in this post...but this will get the "idea mill" churning.

Polls and surveys.
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
rong>After you have established your general target, set up a poll or survey and ask them how they would like to receive information in the order of importance. For examp
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
e, do they surf the internet first...then read their mail etc...? Then, send your marketing accordingly.
Ask them face to face. This is how I go

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

Professional from academic institutions, pharmaceutical industries, health care indust

t started in copywriting. I went face to face to business owners with my sales letter and asked some questions to find the problems that my market was having in the local

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

area. BOOM! Now I know what services to market to them, and how my service will benefit their business right?
Telemark

.

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

eting. I know this is a dreaded word for most people. But the telephone is an excellent tool, and low cost, to get the word out. Your product or service is worth

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

Companies that provide selfless information through particip

it right? Develop a script beforehand...and pound those phones! Well, that wraps it up for this lesson. Please feel free to check out the resource box below..

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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Main Subject - Do You Try Too Hard To Market Your Business?

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