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Digg It - Mafia Marketing Lessons - Five Things Businesses Can Learn From Tony Soprano
1. Trust is fragile.
Whether you are dealing with a prospect, customer, or vendor, your relationships will always make or break you. Tony has always been careful to preserve t
Whether you are dealing with a prospect, customer, or vendor, your relationships will always make or break you. Tony has always been careful to preserve t
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
he friendships he felt were valuable. (However, we all know that relationships change over time.) As a business, your reputation follows you. Your marketing, sales, and after market follow up ar
; 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
crucial to your brand's well being. Bad PR can be a nightmare for businesses - especially when it comes to word-of-mouth marketing. If you sell a shoddy product or treat a customer badly, peopl
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
will find out. They will turn your back on you if you don't set it right. In many cases, they might move on to the competition. (And, help that competition kill you!)
2. Making amend
2. Making amend
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 is usually possible.
A business can turn bad PR around if they admit their mistakes and seek to correct their errors. Giving money back, offering special discounts toward a next purc
A business can turn bad PR around if they admit their mistakes and seek to correct their errors. Giving money back, offering special discounts toward a next purc
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
ase, and making humor out of your foibles can help you if a customer has a bad experience. Offer something up if your company makes a mistake with a person that has given you money. A personal p
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
one call, a free item, a truckload of wine or Armani suits - you get the idea, right? They'll remember how well you treated them.
3. If you want something done right, hire a professiona
3. If you want something done right, hire a professiona
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
l.
Tony rarely brokers his own deals - and when he does, he tends to get stressed by the details. Most businesses feel this way at one time or another. If you own a business, more oft
Tony rarely brokers his own deals - and when he does, he tends to get stressed by the details. Most businesses feel this way at one time or another. If you own a business, more oft
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
n than not, you should not be the only one telling people what you do. Advertising and marketing are essential to business growth, but as a business owner, you want to focus on maintaining relat
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
onships with your customers. Have others that can market your business for you, professionally. Have others that deal with the business muscle.Outsourcing works, but aways make sure to keep the
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
uality in check. Shoddy outsourcing can turn into a nightmare with no ROI at all - and, in Tony's case, serious legal and personal woes.
4. Networking is crucial to marketing.
4. Networking is crucial to marketing.
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
It's who you know - and who they know - that make a difference in your business. Try to network with potential customers in social settings. Local organizations often host networking events in
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
ajor cities - check with your local Chamber of Commerce. Myspace, LinkedIn, and Youtube are great places for online businesses to hang out and make friends. Send greetings for holidays, learn ab
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
ut your prospects. Keep in touch on a regular basis. Remember birthdays. Know just enough about your customers that you feel like they may be part of the family - and that it's a good thing.
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
5. Loyalty begets loyalty, in most cases.
(Some people, however, are cut throat sociopaths...) If you are loyal to your customers and offer them rewards, they'll feel more inv
(Some people, however, are cut throat sociopaths...) If you are loyal to your customers and offer them rewards, they'll feel more inv
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
lved in your brand. In turn, they may recommend you to other prospects, friends, and family. You won't win brand loyalty with every person you come across, but when you find your niche, and your
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
target audience, you should protect them at all costs. The majority rules when it comes to your online audience - and when you get multiple emails requesting something, such as more information
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
on a product, take a moment to decide to fix it TODAY. When a member of your audience wants more information, give it to them. Then let them know about the favor.
It's true, Tony Soprano has ha
It's true, Tony Soprano has ha
.
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
a bad run of business luck and family issues surrounding him for the past decade or so, but until next week, we won't know how it turns out. Considering that his line of work is a part of a dyi
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 breed, he may be unable to stick it out. However, nobody in the world can disagree that the Soprano's has had a great run of it - and we can all learn from Tony's mistakes as well as successes
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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