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Main Subject - Is Everyone In Your Company On The Same Page?
In order to have a successful business, as a business owner, and as a sales and marketing professional, you need to focus on what's special and different about your business. The best way to do this is
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
to try to express your uniqueness in a single statement.
Rosser Reeves was the author of the phrase, "Unique Selling Proposition," or USP, which is a unique message about your business versus the competition. I
Rosser Reeves was the author of the phrase, "Unique Selling Proposition," or USP, which is a unique message about your business versus the competition. I
; 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
actually prefer the term UVP, or "Unique Value Proposition". The reason I prefer this term is that it is external, and shows what value your company brings to your customers and prospects.
The term USP is inte
The term USP is inte
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
rnal. It suggests that you are putting pressure on your current and future customers by trying "to sell" to them. Whereas we all know that you want your prospects and customers "to buy" from you.
Your UVP shoul
Your UVP shoul
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
d be developed and used consistently in all of your advertising and promotion. By UVP we don't necessarily mean a slogan or a phrase that will appear in your advertising, although that's one possible use for it.
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
However, at this point we're focusing on its usefulness as a tool to help you focus on what your business is all about.
If you cannot concisely describe the uniqueness of your business (and create som
If you cannot concisely describe the uniqueness of your business (and create som
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 excitement in potential users), you may not have the basis for a successful business. Also, everyone in your business should be able to spout your UVP, without hesitation, when asked what business they are in.
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
There are several questions to ask about your business to determine your UVP:
1.What is unique about your business or brand vs. direct competitors? You'll probably find a whole list of things that set you apa
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
rt; the next questions will help you decide which of these to focus on.
2.Which of these factors are most important to the buyers and end users of your business or brand?
3.Which of these factors are not easil
2.Which of these factors are most important to the buyers and end users of your business or brand?
3.Which of these factors are not easil
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
y imitated by competitors?
4.Which of these factors can be easily communicated and understood by buyers or end users?
5.Can you construct a memorable message (UVP) of these unique, meaningful qualities about y
4.Which of these factors can be easily communicated and understood by buyers or end users?
5.Can you construct a memorable message (UVP) of these unique, meaningful qualities about y
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
our business or brand?
6.Is your message too focused on your process? Or is it focused on a peripheral message that's important, but not central to what you actually provide to your clients?
7.Finally, how wil
6.Is your message too focused on your process? Or is it focused on a peripheral message that's important, but not central to what you actually provide to your clients?
7.Finally, how wil
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
l you communicate this message (UVP) to buyers and end users? Marketing tools to communicate UVP's include media advertising, promotion programs (e.g., direct mail), packaging, and sales personnel, and many more
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
.
For examples of UVP's, think about different brands of products you've seen advertised on TV. What's the main message underlying the ad? Different brands and types of products utilize different primary themes
For examples of UVP's, think about different brands of products you've seen advertised on TV. What's the main message underlying the ad? Different brands and types of products utilize different primary themes
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
, attributes, or ideas associated with each brand.
Emotional selling is the best way to sell, even to business people.
For illustration purposes, cigarette, liquor, and perfume advertising tends to sell brands
Emotional selling is the best way to sell, even to business people.
For illustration purposes, cigarette, liquor, and perfume advertising tends to sell brands
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
based on emotional, "borrowed values," instead of strictly product features. Users are encouraged to fantasize that they may accrue the "benefits" of sex appeal or a more satisfying/fun lifestyle, perhaps portr
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
ayed by the famous or beautiful spokespersons for a particular brand.
The simple test of determining whether you've constructed a good UVP for your business is whether it sells for you! If it sells your busines
The simple test of determining whether you've constructed a good UVP for your business is whether it sells for you! If it sells your busines
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
s or brand, your UVP is meaningfully different.
If you've been in business for awhile, you may have constructed a UVP automatically. For instance, if you decided to provide free delivery service to your custome
If you've been in business for awhile, you may have constructed a UVP automatically. For instance, if you decided to provide free delivery service to your custome
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
rs because no one else in town is doing it, you've constructed a UVP based on service that you are communicating to your intended target buyer. If however, you offer free delivery service because everyone el
.
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
se in town does so, and you need to provide it simply to keep up with the competition, it's not something that sets you apart and should not be the focus of your UVP.
Remember you need to offer a <
Remember you need to offer a <
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
em>unique proposition to your customers and prospects. If you are having trouble, simply ask your current and past customers what benefit they received when they used your products and/or services.
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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