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Digg It - Is Most Marketing by Small Businesses KILLING THEM?
I just collected my mail. As usual, more than 80% of it was junk. Marketing junk. What did I do with it? Threw it in the garbage without reading it. Same as you do. Only it mad 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 e me think about this article, which I guess might be of some use, unintended by the morons who send me all that useless direct mail. When I open a local newspaper, the first thing I ; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug. Examples of combination products may in do is chuck away all the god-awful leaflets and flyers hidden inside it. Same with anything people put in my mailbox or tuck behind the latch on my door. Out with the BS! Now, I'm rea lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together. dy to accept that someone, somewhere must read that kind of unwanted garbage. Maybe even thinks it's useful. Hell, it's a free country. If no one read it, surely (please God) people wo here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe uld stop sending it. Wouldn't they? Why this matters Most of the stuff is sent by huge corporations. They get a response rate of probably less than a fraction of a percent -- d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations. Combination pro say 1 person in every 300-400 -- but that's okay. They send out so many millions of mailing pieces it adds up to a measurable number of possible customers. Besides, they treat it as j 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 ust another cost of doing business. They can afford it out of their vast profits. But you, the small business owner, can't afford that kind of cost:return ratio. Nor can you send out 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 millions of unwanted marketing messages (Thank God!) Sending out 5000 would be a very big deal (printing costs, distribution costs...). 10,000 would probably be too expensive on any g nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically rounds. So a response of maybe under 10 people -- not SALES, just a response of any kind -- isn't going to make you feel good. Playing the Numbers Marketing is a big numbers g 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 ame, and getting ever more so. Look how many people signed up for the "Do Not Call List" to get rid of those loathsome telemarketers who always call at a meal time. As soon as consume ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi rs have choice, their first action is to dump any kind of marketing. Technology is giving them more and more of that choice. They can block pop-ups on the Internet. Kill spam ( ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it. Following aspects would a to some extent, but there will be better ways soon), use their TiVo to remove TV adverts. You have to persuade people to let you give them marketing messages (that's "permission dd to the challenges in developing combination products: Which markets to tap where the combination products can do fairly well? Which combination prod marketing"). Mostly, they won't, unless you offer them something they really want in return. Here's the good news What people want is simple: useful, FREE information, with n cts are meaningful and rational? Which therapeutic categories to select? Which Combinations can address unmet needs of the patients? Do combin o catch. Offer them that and they'll "pay" for it by letting to add just a smidgeon of marketing. Give them what they find useful; as much of it as you can. Don't cheat either by dol tions increase the patient compliance? What would be the developing cost? How to tackle the risks encountered during combination product developmen ing out a bit, then trying to make them pay for the rest. That's like your lover giving you a kiss, then asking for fifty bucks for any more (and you know what business that is, right 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 ?). Marketing used to be trapping people into reading what suits you, the seller. No more. Unless you have megabucks available to smother the market in the hope of finding a few saps ping new procedures for reviewing their safety, efficacy and quality. Professional from academic institutions, pharmaceutical industries, health care indust still willing to go along with that game, marketing today is persuading people that you're worth listening to when THEY want to and on THEIR terms. And that means giving them plenty y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products in return. Now the best news You don't need megabucks to do this. All you need is willingness, a real concern to be useful to your customers and a web site. Share your passio . 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 ns. Invite your customers to talk with you and with each other. Keep handing out truly useful information. They'll flock to your site and reward you with enough trust to consider your elopment. They need to be wiser in analyzing the market trends and the regulatory requirements. Companies that provide selfless information through particip marketing message. Because they're not fools. They know you're in business to sell things. And they like to buy, especially from people they like. They just hate being sold to 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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