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Digg It - A Good Marketer: What's the Measurement?
As a business owner, you know how valuable being good at marketing is. Yet, I have found working with business owners for the past 20 plus years that 99.9% of them have never defined what a good marketer is -- what it mean
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
s in their terms.
Let’s take a moment right now and think about what you are measuring yourself against. Without a measurement, you can't possibly know what you are shooting for and this will lead to a misconstrued repr
Let’s take a moment right now and think about what you are measuring yourself against. Without a measurement, you can't possibly know what you are shooting for and this will lead to a misconstrued repr
; 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
sentation or always believing you are never good enough or doing enough.
Yes, the best measurement of good marketing is the revenue you are receiving. Yes, there’s nothing like the confirmation that people are opening t
Yes, the best measurement of good marketing is the revenue you are receiving. Yes, there’s nothing like the confirmation that people are opening t
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
eir wallets to your business. There’s also feedback -- the testimonials -- they are good for pats on the back or to show other people that someone cares about what you offer. Is that it though? To most big companies it a
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
ways the bottom line -- profit after taxes. It’s how much the stockholders make or some other reference to money.
Yet for entrepreneurs who purposes when their own direction because they "wanted something more" what is
Yet for entrepreneurs who purposes when their own direction because they "wanted something more" what is
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
the measurement. What is the "something more?" Okay, you want to be happy and have fun along way. Oops and before I forget to have balance between the business and the rest of your life.
Hey, I think we've made good p
Hey, I think we've made good p
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
ogress so far in starting to define what your measurement definition of a "good marketer" is, didn't we? Not actually, we defined what you want for the whole business most of the time with a few exceptions, like the revenu
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
. But what makes up a "good marketer" in your definition.
Great, I love challenges, don't you? Today, let’s take a few minutes out sometime and ask ourselves, "What is my measurement of who I would be if I were a good
Great, I love challenges, don't you? Today, let’s take a few minutes out sometime and ask ourselves, "What is my measurement of who I would be if I were a good
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
arketer?" Here is a list of questions to guide you as you think through and create our own definition. On a scale of 1-10, give each of these a measurement of where you know you stand right at this moment.
1. How well d
1. How well d
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
o you think you know who you are selling to or who has purchased from you in the past?
2. How well do you KNOW the principles of marketing?
3. How well do you practice those principles?
4. How well does the public
2. How well do you KNOW the principles of marketing?
3. How well do you practice those principles?
4. How well does the public
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
nderstand what you do?
5. How do you teach them what they need to know to understand what you do?
6. Are you leaving it up to someone else to do this, or have you taken it upon yourself to make sure you educate at eve
5. How do you teach them what they need to know to understand what you do?
6. Are you leaving it up to someone else to do this, or have you taken it upon yourself to make sure you educate at eve
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
y possible opportunity?
7. How well do you know what you are selling – your uniqueness, your product’s uniqueness?
6. Do you change your marketing strategy frequently whenever you get tired of it?
7. Is the change
7. How well do you know what you are selling – your uniqueness, your product’s uniqueness?
6. Do you change your marketing strategy frequently whenever you get tired of it?
7. Is the change
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
iming when the market has changed or when you are tired of it?
8. Are you enjoying what you have accomplishments or beating yourself up for what is left to do?
9. Are you enjoying the learning process as fun or frustr
8. Are you enjoying what you have accomplishments or beating yourself up for what is left to do?
9. Are you enjoying the learning process as fun or frustr
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
ating? Are you allowing additional time to learn and grow? Are you including the learning time to be included in with the "this needs to give me results" time? How are you measuring that growth?
10. Do you repeat your
10. Do you repeat your
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
offers frequently? Did you know that the "open" rate of emails is only 48% on a good day and 8% on a bad day? The 48% rate is for opt-in material. This means that there are a low number of people taking the time to read
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
our material most of the time. This is why it is important to repeat your messages. Yes, a few will read it several times, however, they will use the delete key quickly.
11.Are you commitment 100% to marketing when yo
11.Are you commitment 100% to marketing when yo
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
do it? Are you playing full out when you are in marketing mode, or is your heart only half in it?
12.Is it making the money you expected?
13.Do you take "no" personally?
14.Do you take good care of your health an
12.Is it making the money you expected?
13.Do you take "no" personally?
14.Do you take good care of your health an
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
d other parts of your life as well?
There are lots more questions that you may want to ask yourself. What you want to come up with are 5-7 measurements for you to measure yourself against. If you still are having probl
There are lots more questions that you may want to ask yourself. What you want to come up with are 5-7 measurements for you to measure yourself against. If you still are having probl
.
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
ms with defining this for yourself, ask other people who you feel meet that description.
Is all of it dependent on "results" only? When I get" when I'm over there" when I have $X dollars in the bank, then I will be a go
Is all of it dependent on "results" only? When I get" when I'm over there" when I have $X dollars in the bank, then I will be a go
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
d marketer.
When you know what you are shooting for you will not ever come short or overshoot. This will keep you focused, clear and very attractive in the universe. Especially since most of it is competing against you
When you know what you are shooting for you will not ever come short or overshoot. This will keep you focused, clear and very attractive in the universe. Especially since most of it is competing against you
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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