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Digg It - Key Marketing Questions - Planning Your Marketing Campaign
So you started a business. How’s it going? Did you think about marketing when you began planning for your business? Marketing is how you get the word out about your business. Marketing will ultimately determine if you succeed or fail. So, how can you succeed? What questions should you be asking y
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
ourself? Here are the BIG FIVE!
WHO DO I WANT AS A CUSTOMER?
Let’s say you were trying to sell a video game. To effectively sell a video game to a fifteen year old requires an entirely different conversation than selling the same item to his mother. To be successful in marketing, you must segme
WHO DO I WANT AS A CUSTOMER?
Let’s say you were trying to sell a video game. To effectively sell a video game to a fifteen year old requires an entirely different conversation than selling the same item to his mother. To be successful in marketing, you must segme
; 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 your possible customers into different groups who share common concerns. If your product could be sold to a fifteen year old or a 40 year old, you’d better decide who you are going to focus your marketing efforts upon for the greatest success.
Visualize your prospective customers. Pick an idea
Visualize your prospective customers. Pick an idea
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
l customer. This would be one you might already have intimate knowledge of (like your own age group and gender). Now, describe detailed characteristics of your ideal prospect. Be very specific. Crawl within their mindset. What is important to them? What worries them? What problem of theirs can yo
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
r product or service satisfy?
Based upon your detailed description of your ideal customer, develop a powerful sales message. This message should appeal directly to their unique interests and needs. Prospects are more likely to respond when they feel you are talking directly to them about their i
Based upon your detailed description of your ideal customer, develop a powerful sales message. This message should appeal directly to their unique interests and needs. Prospects are more likely to respond when they feel you are talking directly to them about their i
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
dividual needs.
Once you have decided upon an ideal customer, you must decide on the ideal outcome of your marketing efforts to that prospect.
WHAT IDEAL OUTCOME DO I WANT TO PRODUCE?
Customers buy for their reasons, not yours. If you want to sell them your product, you MUST sell to their conc
Once you have decided upon an ideal customer, you must decide on the ideal outcome of your marketing efforts to that prospect.
WHAT IDEAL OUTCOME DO I WANT TO PRODUCE?
Customers buy for their reasons, not yours. If you want to sell them your product, you MUST sell to their conc
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
erns, not your own. Every piece of marketing copy must FOCUS upon them. If you don’t speak their language, you don’t get their money.
Decide in advance what ideal outcome you are trying to stimulate. Do you want to get inquiries for your product or service? Do you want to build a list of qualifi
Decide in advance what ideal outcome you are trying to stimulate. Do you want to get inquiries for your product or service? Do you want to build a list of qualifi
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
d prospects willing to receive frequent offers from you? Do you want to produce sales directly from your promotion? Each of these ideal possible outcomes would be designed in a different way. The first step in the successful design of a marketing message is to decide on the ideal outcome. Then, s
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
tay focused upon that goal.
Once you have determined that ideal outcome, you can develop an effective promotion. When you have a clear understanding of the action you are trying to generate, the design of your message becomes easier.
WHAT IS MY COMPETITIVE ADVANTAGE?
The cheapest and easiest m
Once you have determined that ideal outcome, you can develop an effective promotion. When you have a clear understanding of the action you are trying to generate, the design of your message becomes easier.
WHAT IS MY COMPETITIVE ADVANTAGE?
The cheapest and easiest m
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
rketing in the world is free advertising. How do you get free advertising? Do something OUTRAGEOUS or just different from your competition! Become news worthy. How?
When Ben & Jerry’s Ice Cream first tried to expand to a nation-wide operation, it had trouble finding distributors. They determined
When Ben & Jerry’s Ice Cream first tried to expand to a nation-wide operation, it had trouble finding distributors. They determined
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
the problem was that Pillsbury put out the word to all distributors not to work with Ben & Jerry’s. Pillsbury’s edict effectively blocked Ben & Jerry’s from the services of the national distributors. What to do?
Ben & Jerry’s set up a one-man picket line outside Pillsbury headquarters. The picke
Ben & Jerry’s set up a one-man picket line outside Pillsbury headquarters. The picke
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
t sign read “Who’s the Doughboy afraid of?” The result? National-wide FREE publicity on television and newspapers. Publicity they couldn’t afford to buy.
In order to differentiate yourself from the crowd of competitors, you MUST be DIFFERENT!
How to differentiate yourself? Start by identifying
In order to differentiate yourself from the crowd of competitors, you MUST be DIFFERENT!
How to differentiate yourself? Start by identifying
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
hy prospects should do business with you. Why you instead of your competitor selling a similar product or service? For example, do you provide faster results, easier procedures, personal attention or a better guarantee? If you cannot think of one reason - create one. Add something to your busines
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
s you are not already doing. Change the way you currently do something.
Differentiating yourself from the competition is one of the hardest tasks to accomplish. It is also one with the largest positive impact upon your bottom line. Differentiating yourself will increase business.
HOW WILL I PRO
Differentiating yourself from the competition is one of the hardest tasks to accomplish. It is also one with the largest positive impact upon your bottom line. Differentiating yourself will increase business.
HOW WILL I PRO
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
E MY CLAIMS?
Don't expect prospects to believe what you say. They are exposed to millions of messages containing marketing hype every minute of every day. Stand out from the crowd by making sure you provide proof of any claims you make.
For example, collect and use testimonials from satisfied c
Don't expect prospects to believe what you say. They are exposed to millions of messages containing marketing hype every minute of every day. Stand out from the crowd by making sure you provide proof of any claims you make.
For example, collect and use testimonials from satisfied c
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
stomers. Provide research data or reference articles supporting your claims. Write articles about the product or service you sell to establish yourself as an expert. Or, get endorsements from experts your prospects are likely to recognize.
Proof of your marketing claims will move you a long way
Proof of your marketing claims will move you a long way
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
toward a sale and a happy, returning customer.
HOW WILL I CREATE URGENCY FOR THE CUSTOMER?
Most prospects will not respond with the desired outcome the first time they see your promotion. Instead, they may delay making any response. The longer they delay, the better the chance they will forget
HOW WILL I CREATE URGENCY FOR THE CUSTOMER?
Most prospects will not respond with the desired outcome the first time they see your promotion. Instead, they may delay making any response. The longer they delay, the better the chance they will forget
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
bout you. How do you make them take action now?
You can convert many into buyers by giving them a compelling reason to respond immediately. For example, give them a special price if they order now - or include a valuable bonus if they order by a specific deadline.
Get in the habit of developing
You can convert many into buyers by giving them a compelling reason to respond immediately. For example, give them a special price if they order now - or include a valuable bonus if they order by a specific deadline.
Get in the habit of developing
.
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 series of special offers. Use them one at a time with an expiration deadline. When one offer expires, replace it with the next offer (and a new deadline). This enables you to create urgency in the minds of your prospects and drive sales.
In summary, you need to answer all of these marketing q
In summary, you need to answer all of these marketing q
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
estions before you can create a motivating web page, sales letter or presentation. The answers will reveal how you can get your prospect's attention and stimulate them to take the action you want. Stay focused on these questions and answers as you design your marketing efforts. Time to start? NOW
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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