Digg It - Business

Here are 9 low-cost but highly effective marketing tips to help you boost your sales and profits fast.

Tip 1:
Look for some low-cost wa

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

ys you can enhance the perceived value of your product or service. Then test raising your price. Don't be surprised if both your sales and your prof

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

Examples of combination products may in

t margin go up.

Tip 2:
Try to limit your customer's decision making to either "Yes. I'll buy." or "No. I won't buy". Don't risk losing

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

hem by including "which one" decisions. The more options you offer, the more likely some customers will procrastinate and never make the decision ..

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

causing you to lose a sale needlessly.

Tip 3:
You can demonstrate a low cost for your product or service by breaking down the price to

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

Combination pro

its lowest time increment. For example, "Enjoy all of this for less than 90 cents a day" (for something priced at $325 a year).

Tip 4:

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

dd an unexpected bonus to every sales transaction just before completing the sale. It prevents customers from developing any last minute hesitation

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

..and changing their minds about buying.

Tip 5:
Print your best small ad on a postcard and mail it to prospects in your targeted market

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

Postcards are inexpensive and easy to use. Most recipients who ignore other types of advertising will read a brief ad when it's delivered to them o

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

n a postcard.

Tip 6:
Prospects who ask questions are usually close to buying. Take advantage of this. Don't just answer their question.

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

Include a reason for them to buy as part of your answer. Then ask for the sale ...or tell them exactly what to do to place their order.

Tip 7:
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a
>
Collect testimonials from your customers and use them in all your advertising. Testimonials provide evidence that your product or service del
dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod
vers the results you promise. For maximum impact, use only testimonials that describe specific results the customer enjoyed.

Tip 8:
Inc
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
lude "benefit rich" headlines on all your web pages. Many visitors arrive at a web page then immediately click away ...unless something instantly ca
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
ches their attention.

Tip 9:
Continually test and evaluate everything you use or do to promote your business. Allocate 80 percent of yo
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
r advertising budget to proven promotions. Use the other 20 percent for testing new variations. Most businesses using this system continue growing -
ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust
even in highly competitive markets.

Bonus Tip:
Handle customer complaints quickly and with a positive attitude. Strive to preserve your
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
relationship with them instead of your immediate profit from the transaction. They will reward you with repeat sales and referrals ...instead of pu
.

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
ishing you by telling everybody they know about their unhappy experience and causing you to lose future customers.

Each of these marketing tips pro
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip
ides a simple, low-cost way for you to boost your sales and profits quickly. All you have to do is to put them into action.

Copyright 2005 Bob Ledu

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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Digg It - 9 Highly Effective Marketing Tips

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