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Digg It - Future of Marketing Part 2
In Part 1, I discussed how traditional marketing is no longer
working the way it used to. This is happening for a variety of
reasons -- people have too many mass media choices,
they're bombarded with way
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
too many marketing messages,
the Internet is adding accountability to advertising, etc.
So if traditional marketing is no longer effective, then how will you get the word out about your products or service
So if traditional marketing is no longer effective, then how will you get the word out about your products or service
; 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
?
What Internet Marketer Seth Godin, author of the book Permission Marketing, calls permission marketing.
Permission marketing is when your customers give you permission to market to them. This is opposit
What Internet Marketer Seth Godin, author of the book Permission Marketing, calls permission marketing.
Permission marketing is when your customers give you permission to market to them. This is opposit
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
from
traditional marketing, also known as interruption marketing
(another term coined by Godin).
Interruption marketing works by interrupting you. Nobody watches television for the commercials. Nobody f
Interruption marketing works by interrupting you. Nobody watches television for the commercials. Nobody f
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
ips
through a magazine for the ads. But that's how interruption
marketing gets you to buy something.
Permission marketing is completely different. With permission marketing, customers look forward to hea
Permission marketing is completely different. With permission marketing, customers look forward to hea
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
ing
from you. They LIKE receiving information about your
products and services. That's because they’ve agreed to
enter into a relationship with you. And if permission
marketing is done correctly, you'll
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
eventually develop a
stronger relationship with your customers than you ever
would have with interruption marketing. (But that doesn't
mean interruption marketing doesn't have its place. More on
that la
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
er.)
Permission marketing isn't new. In fact, it's older than interruption marketing. Back before there was mass media, business owners routinely developed long-term relationships with their customers. A
Permission marketing isn't new. In fact, it's older than interruption marketing. Back before there was mass media, business owners routinely developed long-term relationships with their customers. A
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
d customers expected
to be involved with the selling process from the beginning.
Now, of course, we no longer need to be dependent on building relationships face-to-face. With the Internet, we have a who
Now, of course, we no longer need to be dependent on building relationships face-to-face. With the Internet, we have a who
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
e host of low-cost options available to us, which
makes permission marketing easier now than it was
before.
Here's how it works. You start by developing something that your customers find valuable enough
Here's how it works. You start by developing something that your customers find valuable enough
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
to give you permission
to contact them on a regular basis. E-newsletters or e-zines,
which are e-mail newsletters, are popular and so are Web
blogs. Web blogs are like online journals. For a fun sample,
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
check out http://www.boingboing.net Or Seth Godin has his
own blog -- http://www.sethgodin.com
But e-zines and Web blogs aren't the only things of value people sign up for -- you can offer them classes del
But e-zines and Web blogs aren't the only things of value people sign up for -- you can offer them classes del
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
vered
via e-mail or tips or contests or points programs or special
offers or whatever your creativity can come up with.
While it is possible to develop a relationship with customers using only offline te
While it is possible to develop a relationship with customers using only offline te
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
hniques (for instance, a printed
newsletter you mail to your customers) it's less expensive
and more effective to use the Internet. It's quick and easy for
your customers to sign up via your Web site and
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
t's cheap
for you to send it out via e-mail.
However, in order to get people to sign up, you first need to tell them about it. That's where interruption marketing comes in. You still need to get the word
However, in order to get people to sign up, you first need to tell them about it. That's where interruption marketing comes in. You still need to get the word
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
out about what
you're offering. Then once they sign up, you can start
building the relationship.
Is this a lot of work? Yes. Is it more work than interruption marketing? Yes again. But is it more effect
Is this a lot of work? Yes. Is it more work than interruption marketing? Yes again. But is it more effect
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
ve than
interruption marketing? It can be. Especially since
interruption marketing isn't working the way it used to.
I feel that permission marketing favors small business owners. That's because permissi
I feel that permission marketing favors small business owners. That's because permissi
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
n marketing only works
when customers and businesses form a relationship, and
customers prefer forming relationships with people rather
than entities. Customers want to know the person behind
the busine
.
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
s, not just the business itself.
But that doesn't mean big corporations can't employ permission marketing techniques. They just need to get creative about it. Perhaps developing a spokesperson or a busin
But that doesn't mean big corporations can't employ permission marketing techniques. They just need to get creative about it. Perhaps developing a spokesperson or a busin
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
ss "personality" or a forum or group of people.
The important thing is to start thinking about how marketing is changing and what you can do about it.
(Resource for article: Seth Godin, Permission Marketing
The important thing is to start thinking about how marketing is changing and what you can do about it.
(Resource for article: Seth Godin, Permission Marketing
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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