Digg It - Business

Each of the following Ten Marketing Tips is based on a highly effective but often overlooked marketing tactic. How many are you using? How many have you overlooked?

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

Marketing Tip #1:
Insulate yourself against the impact of change by increasing the number of products and services you offer ...and by using a variet

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

Examples of combination products may in

y of different marketing methods. Only a small portion of your total business will be affected if the sales of one product declines or the response to one marketi

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

ng method drops.

Marketing Tip #2:
Customers are prospects too. Stay in contact with them. Find or develop other products or services you can offer th

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

m. It's easier to make a sale to a previous customer than to someone who never bought from you.

Marketing Tip #3:
Avoid making any claim that sounds exa

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

Combination pro

ggerated ...even if it is true. A bold claim creates doubt in your prospect's mind and jeopardizes the sale. Reduce any bold claims to a more believable level.

<

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

B>Marketing Tip #4:
Express numerical claims as odd numbers with fractions or decimals. For example, "Our clients save 17.7 percent" sounds more believabl

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

e than "Our clients save 20 percent" ...even if 20 percent is the accurate number.

Marketing Tip #5:
To create an absolutely irresistible offer, combine

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

a special discount price and a set of valuable bonuses in the same offer.

Marketing Tip #6:
Develop a series of 4 or 5 different special offers. Use

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

them one at a time with an expiration deadline. When one offer expires, replace it with the next offer and a new deadline. Continuously recycle through the same se

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

ries of offers. This enables you to keep using special offers to generate sales without taking time to develop new ones.

Marketing Tip #7:
If you're a

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

Following aspects would a

ttracting many prospects who really don't have (or can't get) the money to buy your product or service ...you need to change your market. Target a market where pr

dd to the challenges in developing combination products:

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

spects have an intense desire for the benefits produced by your product or service AND the money to buy it.

Marketing Tip #8:
Set yourself apart from co

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

mpetitors by offering an exclusive benefit your competitors cannot copy ...or one they're not willing to copy. One business owner I know includes his personal pho

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

ne number on every order. His competitors don't ...and they are not likely to start making themselves that accessible to customers.

Marketing Tip #9:

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

Advertising copy produces the biggest response when each reader can believe the message was written specifically for him or her. As you write any sales message, vis

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

Professional from academic institutions, pharmaceutical industries, health care indust

alize you're writing to one person instead of to a large group of people. This will help you write in a less formal and more personal style.

Marketing Tip #10

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

:
Most sales are not made on the first contact. Develop a method to capture and save the names and contact information of prospects who don't buy from you

.

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

. Follow up periodically. A little gentle coaching will eventually convert many of them into buyers.

Each of these 10 marketing tips implements a simple but high

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

Companies that provide selfless information through particip

ly effective marketing tactic. Take action now to apply those you overlooked. You'll be surprised by how much business it produces for you.

Copyright 2004 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

HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.diggit.org.ua/article/29956/diggit-10-Important-Marketing-Tips.html">10 Important Marketing Tips</a>

BB link (for phorums):
[url=http://www.diggit.org.ua/article/29956/diggit-10-Important-Marketing-Tips.html]10 Important Marketing Tips[/url]

Starting a new business? Need exposure? Want to advertise but not sure where to start? Want a good deal and More for your Buck? Here's how-

Brands grow in time. They appear overnight but they can die as fast if you fail to address at least four of the crucial aspects of the branding process:

Tags

Links

Digg It - 10 Important Marketing Tips

Related Articles: