Main Subject - Business

Marketing is what 99% of businesses fail to do correctly. Many small business owners recognize this deficiency and hire marketing firm. Yet, the results are not what are

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

promised after these small business owners have spent their limited resources of time, money and energy. From my experiences as a business coach to help my clients with

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

Examples of combination products may in

their process improvement plans to their strategic plans, I have identified these 7 marketing tips to help any business increase sales.

What are the clients' r

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

sults from their marketing solutions?

The first question you should ask: “What are the results that your marketing firm has delivered to your clients within my in

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

ustry? All marketing efforts should be directly tied to specific results and measured on a regular basis. If the marketing firm cannot answer this question, quickly and

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

Combination pro

positively, then you may be talking with the wrong marketing firm.

Talk to at least 2 to 5 of the potential marketing firm’s clients

By talking to existing or

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

past clients will help you determine if this marketing firm is the right fit for you. This is much like asking and checking references on a potential employee.

Dete

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

mine if you want branding, name recognition or actual clients

Before you meet with the firm, you need to determine if you want name recognition, name branding or ac

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

ual clients. Each of these determinations will deliver a different marketing strategy. For example, name recognition can be delivered by television, radio, print or billb

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

ard advertising. Name branding may require more expenditures using this media or from other marketing strategies such as article writing or speaking. Actual clients is

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

eally want you want and may involve trade shows where you have greater access to potential clients.

Set a time frame for the marketing firm's performance

Estab

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

Following aspects would a

lish a time frame for the marketing campaign. A marketing campaign is very similar to a goal. All goals should include a target date or time frame as should your market

dd to the challenges in developing combination products:

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

ng.

Measure all results of the marketing firm's efforts

Marketing needs to deliver results. Let me repeat this: These results

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

hich should have already been identified can be increased marketing awareness through surveys to actual increase in number of incoming phone calls, Internet visitors, etc

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

Ask about the percentage of direct mail versus television, print, or other media?

Marketing employs various delivery vehicle. Television, radio, print and bil

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

board deliver impressions. Direct marketing focuses on ctual contacts. Marketing research still supports that direct mail is the most successful form as it secures the mo

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

Professional from academic institutions, pharmaceutical industries, health care indust

st consistent measurable outcomes. For example, 1000 piece direct professional mail campaign will deliver 1% to 2% rate.

Look for a call to action in current marketi

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

g samples

The existing marketing samples should show a call to action. Many marketing firms fail to include this simple action that will generate you more sales.

.

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

After working with numerous small business clients, I have personally witnessed a lot of poor marketing campaigns being delivered with very expensive price tags.

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

Companies that provide selfless information through particip

aking the time to review these marketing tips in your selection of a marketing firm should truly help you increase sales by uniting your marketing plan to your sales plan

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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Just starting a business often means that money is short. If you are a new acupuncturist, chances are you have some student loans to repay as well. This often means trying to do things as cheaply as possible. Marketing is one of the most important business expenses, however there are some free marketing tips that you can use to boost your exposure

You turn your Overhead Projector on and there is no power, it's completely dead. It worked the last time you used it, now for some reason it does nothing. What could be the problem?

There are many ways to make more money in your business. Here are some of the best simple ideas that I have collected over the years.

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