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Let’s forget the technical jargon and take a look at what database marketing really is and how you can use it, in plain, understandable English

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

. Database marketing is a marketing and sales system that gathers, refines, and utilizes information so that you can make informed decisions re

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

Examples of combination products may in

garding marketing and sales communications and programs.

Successful companies use database marketing for targeted prospect identification and

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

developing a sales call strategy. You can also use it to design effective direct mail pieces and write appropriate advertising campaigns. The r

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

sults of effective database marketing include acquiring new customers, retaining existing customers, generating more business from existing cus

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

Combination pro

tomers and creating long-term loyalty.

What does database marketing allow you to do?

Information about customers that is accurate and readily

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

available can truly transform your company’s capability to market and sell. Unsuccessful companies practice “hit-or-miss” marketing. They make

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

decisions based on gut instinct, not on fact. But database marketing lets you work more intelligently. It allows you to take the information yo

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

u already have in your customer or prospect lists, analyze it to find the specific patterns and use the information from your analysis to run b

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

etter marketing and sales programs.

The end result? If you target the right prospects with the right messages about the right products, you’ll

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

spend less marketing to prospects that are never going to buy and more on the ones that are most likely to buy, thereby increasing the return o

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

Following aspects would a

n your marketing and sales investment.

You can begin the process of database marketing by keeping track of where your customers come from, exa

dd to the challenges in developing combination products:

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

ctly what they buy, how profitable they are and what referrals they send to you. Without exception, every company that has made the effort to a

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

nalyze their customer list has discovered valuable information about their own clients that has helped make them more profitable.

Here are spe

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

ific examples of effective database marketing:

--Identify your best customers’ common characteristics and then target your next program to tho

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

se prospects with similar characteristics.

--Learn which market segments bring you the most revenue and which ones bring you the highest avera

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

Professional from academic institutions, pharmaceutical industries, health care indust

ge revenue. These might be very different industries, in which case you would want to market differently to each one.

--Find out what types of

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

prospects respond to which promotions so you can decide where to spend your advertising and marketing dollars the next time.

--Calculate the a

.

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

verage lifetime value of your customers. You can use this information to find out which customers aren’t living up to their potential and devis

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

Companies that provide selfless information through particip

e marketing and sales programs to nudge them to buy more.

--Reward your most frequent buyers and the buyers that bring you the highest revenue

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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Naming a business is an art form; however to be most effective, it requires some business skills as well. This article exams some of the considerations involved in choosing a name for your new business.

I always loved horses. But like most people I did not get a chance to ride often. I felt that it was beyond reach. A fantasy, a dream that could never be a reality. I believed that only the lucky and the wealthy had horses. Then a magical thing happened.

Market Plan is Not a Complex Thing to Understand Before we start thinking about the essentials of a good marketing plan, let’s remove the misconception from our brains that a marketing plan is a very complex thing to understand. You don’t have to read a lot of thick books to know about the essentials of a good marketing plan.

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