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One of the most common mistakes in marketing is making decisions based on assumptions rather than

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

fact. You think of an idea for a marketing piece and believe that it is a great idea.

You start

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

Examples of combination products may in

using the idea with no tracking mechanism that would allow you to measure the results of that piec

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

e. Then if business happens to come in you assume that it must be working and continue to spend ti

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

me and money on a method that may or may not actually be working.

Frankly, I don't want to spend

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

Combination pro

a dime (or a minute of my time) on marketing that I can't measure.

There are two reasons for this

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

. The most obvious reason is - I want to know if I am wasting my efforts on something that doesn'

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

t work at all.

The second reason is - if the marketing piece is working I want to know how well.

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

I want to be able to compare it to my other marketing efforts and determine where my resources ar

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 best spent. I also want to be able to test variations of the piece and see if I can improve the

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

response rate. An improvement in response rate adds directly to the bottom line because it doesn'

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

Following aspects would a

t cost any extra.

In other words, if I have a choice between spending $300 on an ad and getting 1

dd to the challenges in developing combination products:

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

0 responses or spending the same $300 and getting 20 responses I'd rather have the 20 every time.

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

That's a no-brainer, right?

Yet so often I see marketers using unproven ads and neglecting to te

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

st and see if they can improve response rates.

That's one reason I like using free recorded messa

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

ge lines as a response mechanism so much. When the person calls to hear the recorded message they

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

Professional from academic institutions, pharmaceutical industries, health care indust

enter an ID number from the ad they read. Each ad or marketing piece can be assigned a unique ID

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

number so that I can know exactly how many responses came as a direct result of that particular p

.

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

iece.

Knowing your numbers and tracking every single ad can save you time and money, and making d

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

Companies that provide selfless information through particip

ecisions based on fact is much more profitable and enjoyable than making them based on assumptions

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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Consumers today aren’t ignorant and in this age of reality television and the shock factor mentality advertisers have to connect with them, if not then they risk losing their market share.

Temporary employment can be a great way to get your foot in the door. Before you turn down an opportunity to work in a company for a few weeks or longer, consider the possible long-term future with the company if there is a chance that a short term assignment could lead to something fulltime. It happened to me.

Who's to blame for inept managers? The answer, of course, is the superiors who hire or promote them-but not for the reasons you might think.

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Digg It - Assumption Based Marketing Vs. Fact Based Marketing

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