Digg It - Business

Are there really ways you can get valuable marketing exposure without spending any money? You bet there are. The trick to uncovering these methods is to think of creative ways you can get your products or services in f

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

ront of, or in the hands of, your prospects. And that last part is critical. It is only valuable marketing if it is targeted at the people you have identified are most likely to buy your products or services.

Followin

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

Examples of combination products may in

are four ways I've used to create great results at little or no cost.

1) Share Your Knowledge.

If you have specialized knowledge or expertise related to your business, think of ways to share that knowledge. Consider

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

writing a regular column for a website or publication that targets the same customers you target. Become a regular contributor to a magazine or radio or TV program.

2) Package Your Knowledge.

Package and distribute y

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

ur knowledge in the form of an Ezine, Newsletter or Special Report. Build your contact list and distribute this valuable information on a regular basis. Use this as an opportunity to market your products and services a

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

Combination pro

nd be sure to Include special offers or bonuses to recipients who act by a certain date.

3) Do Seminars or Presentations.

Do you offer a professional or personal service? Consider booking yourself for speaking engag

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

ments where you can provide valuable information in your area of expertise to groups of people. Make sure the groups are representative of the types of customers or clients you believe are most likely to benefit from y

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

ur services. This tactic serves several marketing purposes.

First, it gets you out in front of your prospects. In marketing this is called “generating awareness” and it is the first step toward making a sale.

Second

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

it allows people the opportunity to get to know you and/or your services. And with a service business, where clients are buying “you” (that really is what they are buying when they purchase your services) it is crucia

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

l that they understand the services you provide and that they get to know you. People like working with people they like. Given the choice between hiring two people with the same skills and services, most people will c

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

oose the person they like or feel the best chemistry with.

Make sure to give attendees a special offer on your products or services at the end of your presentation. Give the offer a deadline to create urgency for them

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

Following aspects would a

to take advantage of the offer on the spot.

4) Give Something Away.

Find a way to give away samples of your products or services. Is there an association or group meeting or any other event that is looking for donati

dd to the challenges in developing combination products:

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

ns to be given away as door prizes?

Why not donate a package of your services or products? You will gain exposure (a free advertisement by the group leader) among the entire group when your package is either auctioned

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

off, or announced and given away in front of everyone. You are also giving the person who wins the package the chance to sample your products or services at no risk.

You could further leverage this marketing by offer

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

ng the “winner” an incentive to refer others to you. The “winner” might also be a great person to provide feedback to you, or a testimonial regarding how they felt about your product or service, that you can use in fut

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

re marketing.

Yes, there may be a hard cost associated with the product you are giving away, or a “time” cost associated with the time you are donating, however when you weigh that cost against the number of people wh

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

Professional from academic institutions, pharmaceutical industries, health care indust

are being exposed to your products or services, usually it is well worth it. And it certainly is cheap (and usually more effective!) in comparison to buying an ad.

My advice is to incorporate this sort of activity in

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

to your operational budget and simply consider it a cost of doing business.

There are all kinds of ways to generate exposure of your products and services without paying for advertising space. Yes, sometimes this does

.

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

involve giving away product or service, but I don’t consider that a hard “marketing” cost.

I have found that the benefits always outweigh the cost of my time or my products. The trick is to target well, or in other wo

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

Companies that provide selfless information through particip

ds, locate where your prospects congregate or what media they read or view, and then find creative ways to get yourself, your products or your services, in front of them in those places.

© Copyright 2005 Debbie LaChus

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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The basic thumb rules for creating a successful online PR Campaign for your business; And how to optimize Press Release to increase website page rank in search engines.

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