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Main Subject - Image and Branding Advertising-Get over it or Go Broke!
Out of 100 products, 90 never get past the initial development and testing stages, of the 10 that do 7 will fail in the market within 3 years.
To make matters worse 80% of new businesses are gone within 3-5 years!
WHY?
Because a higher numbe
To make matters worse 80% of new businesses are gone within 3-5 years!
WHY?
Because a higher numbe
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
r of the Business Owners have no idea how to sell, promote, advertising or market their products. Most Business Owners are brilliant in their fields of expertise or they have a great product, but they couldn't market or advertising their way ou
; 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
t of a wet paper bag!
If you are serious about YOUR business then read every single word on this page. You see today I'm covering a subject that sent a lot of those 80% of businesses to an early grave!
"Image and Brand Advertising"
Sometimes
If you are serious about YOUR business then read every single word on this page. You see today I'm covering a subject that sent a lot of those 80% of businesses to an early grave!
"Image and Brand Advertising"
Sometimes
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
when people go into business, they feel they have to throw heaps of money at advertising because that’s what the “Top Guns” do isn’t it?
We are surrounded by image advertising everywhere we look. It’s in our face 24/7. Half the time, we are a
We are surrounded by image advertising everywhere we look. It’s in our face 24/7. Half the time, we are a
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
compete loss as to what the business is actually trying to sell?
And let’s face it, most of us who are in business just don’t have money to burn. As an entrepreneur every dollar must be watched, after all the reason we go into business in the
And let’s face it, most of us who are in business just don’t have money to burn. As an entrepreneur every dollar must be watched, after all the reason we go into business in the
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
first place is to make a profit right?
“Image Advertising” is the type of ad campaign that use music, sexy women and men, dancing, singing and then end with the company’s logo. They give absolutely no reason for the buyer to take immediate act
“Image Advertising” is the type of ad campaign that use music, sexy women and men, dancing, singing and then end with the company’s logo. They give absolutely no reason for the buyer to take immediate act
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
ion in most cases.
Unless you are a huge company like Coca Cola or Nike, and have very deep pockets, this type of advertising will do nothing to attract “top of mind awareness”. Using “Image” advertising is one of the major traps that traditio
Unless you are a huge company like Coca Cola or Nike, and have very deep pockets, this type of advertising will do nothing to attract “top of mind awareness”. Using “Image” advertising is one of the major traps that traditio
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
nal and online businesses fall into today. People get wound up trying to be clever, cutesy or creative that they forget WHY they’re advertising the first place.
Now correct me if I’m wrong, buy wouldn’t you agree the whole reason for spending
Now correct me if I’m wrong, buy wouldn’t you agree the whole reason for spending
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
big bucks on advertising and marketing is to make money? So don’t go getting trapped in all that glitz and glamour. Think about the number one reason for being in business. (Yes, apart from the money!)
It’s to serve your customer. Because let’
It’s to serve your customer. Because let’
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
s not forget, it’s them who has the money you want in their pockets! If you really want to make all that money you’ve been dreaming of for years – I’ll tell you how to get it.
DIRECT RESPONSE ADVERTISNG! Yep and you will get a response with Di
DIRECT RESPONSE ADVERTISNG! Yep and you will get a response with Di
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
ect Response Advertising, You will get results, you will get orders, you will build a very profitable database, you will build customer loyalty and you will make money. It’s a fact.
What you have to keep in mind is that your prospects don’t gi
What you have to keep in mind is that your prospects don’t gi
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
ve a hoot about your company image. All they want is to know your product or service can take away his pain and give him pleasure. The more benefits you through their way, they more likely they will move towards a buying decision!
By the way,
By the way,
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
even though your prospect doesn’t care to deeply about your credentials, what they will want to know is what PROOF you can show them about how great your product or service is.
Tell them about this, give them testimonials, tell they you’ve bee
Tell them about this, give them testimonials, tell they you’ve bee
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
n to seminars on you topic all over the world, tell they you’re up with the ‘latest and greatest’ tell them you conduct seminars on this topic. Sooth their anxieties.
In everything you do, give people reasons why they should believe in you, so
In everything you do, give people reasons why they should believe in you, so
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
they’ll buy.
Now just to clarify this once more, the difference between an “image ad” and a “direct response ad” is this.
An image ad is all about the company image. It has no call to action and is totally focused on the business and not the
Now just to clarify this once more, the difference between an “image ad” and a “direct response ad” is this.
An image ad is all about the company image. It has no call to action and is totally focused on the business and not the
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
prospect. It’s purpose is merely to put a company name or message in front of the general public. This type of advertising is not trackable I any specific way.
A Direct Response Ad is trackable. It’s asks of the prospect to take action in some
A Direct Response Ad is trackable. It’s asks of the prospect to take action in some
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
way. Usually by phone, email, mail, coupons download etc. This means you can measure the effectiveness of the direct response ad and know if you are getting a return on investment.
Here’s Something You Must Never Forget…
The only reason you
Here’s Something You Must Never Forget…
The only reason you
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
ever advertise to get a response. You want your prospect to be compelled to take immediate action. You want them to call or visit your business. You want them to download your information now. You want them to become loyal customers. Nothing 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 is worthy of your hard-earned money!
Once you’re using direct response ads, you can keep track of the results, measure what the bottom line comes to and know whether to keep running the ad or to drop it. It’s that simple! If you were runnin
Once you’re using direct response ads, you can keep track of the results, measure what the bottom line comes to and know whether to keep running the ad or to drop it. It’s that simple! If you were runnin
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
g and image ad, there wouldn’t be any way to track the results…it just wouldn’t happen.
And whatever you do, don’t forget to track your results and keep records. This way you can improve your ads and work out which ones bring in the most money
And whatever you do, don’t forget to track your results and keep records. This way you can improve your ads and work out which ones bring in the most money
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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