| Digg It |
Hubs | Hubbers | Topics | Request |
| #1 in Business | Subscribe Email Print |
|
You are here: Home > Business > Marketing > Alarming Marketing Trend |
|
Digg It - Alarming Marketing Trend
One key discipline of successful direct marketing has been to test marketing communications tactics to continually improve results. Th 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 ere is now an alarming trend according to a recent survey that we conducted among business-to-business marketers who are readers of Sa ; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug. Examples of combination products may in es Lead Report. Only 24% of the marketing professionals surveyed said they usually or always test their marketing communications tact lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together. ics before rolling them out. The survey was completed by 280 of 940 subscribers who received and read a special edition of the enewsl here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe tter Sales Lead Report. When asked if they test marketing communications tactics before rolling them out:
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations. Combination pro 5%) said they always test; 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 (33.7%) said they seldom test; In other words, nearly half of the survey participants 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 (48.9%) said that they seldom or never test marketing communications tactics before rolling out their campaigns. When asked about the nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically reasons for not testing:
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 24.8%) said they had no budget for testing; ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi er 8% (8.2%) said they had no need for testing. The survey further showed that fewer than 5% (4.6%) said they always test and ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it. Following aspects would a more than 19% (19.5%) said they usually test marketing communications tactics before rolling them out. Based on those who do test: < dd to the challenges in developing combination products: Which markets to tap where the combination products can do fairly well? Which combination prod l> cts are meaningful and rational? Which therapeutic categories to select? Which Combinations can address unmet needs of the patients? Do combin er was the most important thing to test; tions increase the patient compliance? What would be the developing cost? How to tackle the risks encountered during combination product developmen (5.38%) said the media was the most important thing to test. Successful direct marketers have always touted the value of testi 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 ng in making the scientific decisions about their campaigns. In today’s economy, sadly, testing appears to be considered an optional a ping new procedures for reviewing their safety, efficacy and quality. Professional from academic institutions, pharmaceutical industries, health care indust tivity; one that is used only for very large campaigns or when prospecting for new audiences. This is an alarming trend. Eliminating y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products testing because of cost is like playing Russian Roulette with your marketing campaign. Sometimes you’ll be safe, and the campaign wil . 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 bring results. But you'll never really understand why. And unfortunately, one major marketing failure could put a massive hole in yo elopment. They need to be wiser in analyzing the market trends and the regulatory requirements. Companies that provide selfless information through particip ur growth strategy. † Think long term vs. short term to reap the sure-fire benefits that testing will give to your marketing campaign tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
HTTP = HTML link (for blogs, profiles,phorums):
Related Articles:Five Tips for Writing Better Brochures How To Increase Your Profit Online Using Adwords Ten Ways to Help You Improve Your Customer Service
|