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Here's a business marketing tip to gain maximum profit from any product or service in your business marketing lineup, and how you will gain extreme profits when you follow these 5 simple, LAZY steps;

1. Look not at what you are off

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

ering through your business marketing efforts - look at WHO WILL BUY your product/service. Make a picture of your 'typical buyer' - who they are, their age, what they like to do, etc.

This is often known as the 'target market prosp

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

Examples of combination products may in

ect', yet, the more detailed you define this 'target' in your business marketing, the better.

I've even gone to the point of giving this 'target market' person a name and put a picture up on my computer monitor (find a 'friendly

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

face' on the Internet somewhere and 'tag' it as your target market prospect) - get your business marketing centered around every aspect of your target - the more you know them, the easier it is to chat about what they need.

2. De

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

velop a list of your target market prospect's likes and dislikes as it would relate to a product/service similar to yours. (You'll get a 'third party' look at your competition, as well as some inside looks at their business marketin

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

Combination pro

efforts.)

Consider some questions they would have, or some typical objections to buying this similar product/service (this may come from your previous research, or you may have to simply do some).

One way to personalize the bus

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

iness marketing research of your 'target market prospect' is to 'role play' - think about your prospect as a good friend that you are having a picnic with (or even a co-worker at the water cooler, etc.) and in passing, your friend

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

brings up that 'similar' product/service.

What do they say about it?

What are their questions/concerns?

Is there a 'running joke' about the competition's product/service that defines a hole in their business marketing? (i.e., "D

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

id you hear about the lady that used X?")

All these things need to be addressed, and documented.

Let your mind be creative and wander, but keep it to a time limit - about 15-20 minutes per business marketing 'play' session. Think

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

of nothing but this 'conversation' during this creative (often fun) time.

It might even be helpful for you to say everything that comes to mind out loud during these business marketing planning sessions(as silly as that sounds, it

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

orks...) and record it, as some of the best business marketing ideas get overlooked when you are trying to write them down quickly.

Listening back for those 'nuggets' might even trigger other 'bits of business marketing gold' for y

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

Following aspects would a

ou to work with.

3. Figure out how your product/service and business marketing plan is similar, yet different than the competition. Just how does your solution overcome all the questions, concerns and yes, even 'jokes' from your ta

dd to the challenges in developing combination products:

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

rget?

If you can't answer these questions for yourself, how would you expect to answer them from your prospect?

The beautiful part about this business marketing exercise is that, if you go through it with commitment, you will alread

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

y know the answers to the prospect's questions BEFORE they ask them - which quickly eliminates any fears you might have about talking with them.

4. Continue this simple exercise - every couple days for a week or so. Giving 15-20

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

minutes of serious thought to your business marketing plan and role playing every couple days will stimulate your conscious mind, as well as keep your unconscious mind actively thinking about it.

You'll be surprised at the outcome

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

f taking these steps seriously.

But be forewarned - you will very likely have a very different outlook about your prospect after one week of this simple, yet extremely effective business marketing, 'target market' finding tool!

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

Professional from academic institutions, pharmaceutical industries, health care indust

You will know them as well as you know yourself, so you will be able to talk with them about things quickly, simply and with the best, consistent results of your business marketing efforts.

5. Now, take a look at your product/servi

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

ce and business marketing plan - through the prospect's eyes (now that you can clearly see through them...)

Does it fit your prospect's needs?

Does it answer their questions and eliminate their fears?

Is it priced right for your ta

.

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

rget prospect?

Is there a market for your product/service other than your personalized target market prospect? (This step is vital as a 'reality check" - and one that many business marketing planners miss)

When you follow these fi

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

Companies that provide selfless information through particip

ve steps faithfully, you will have credibility, knowledge and successful long-term relationships with your customers (who used to be simply 'target market prospects' before you understood the power of this business marketing tip!)

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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A common problem in society is improperly balancing our many different areas of life. Nor do many of us realize that one can build leadership abilities rather than needing to be born with them. So how can these things be done?

It might be easy to take the first 3 steps and join a company. The actual work begins after that and sometimes the utmost challenge lies within you.

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