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Digg It - How to Create a Superior Marketing Database
Do you maintain a dedicated marketing database of customer and targeted prospect information? If not then you need to begin to put this in place immediately. Any business can only market intelli
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
gently when it is armed with vital contact information. In fact - outside of tangible business assets such as property, machinery and stock, your marketing database is the most valuable asset. I
; 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
you ever plan to sell your business one of the first things a potential buyer will want to see is your customer and prospect information.
What to include in your marketing database
Apart from
What to include in your marketing database
Apart from
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
the obvious contact details, for example full name, address, telephone, fax, email etc, the following list shows the information that you need to store and keep up to date:
- Category
- Source of co
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
tactPurchasing history Response to offers Email opt in status Telephone/fax preference status Preferred contact method Birthday/Anniversary dates Partners
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
/children namesHobbies Pets
Let's consider these items in more detail. It is very important to be able to segment your database into various categories. For example,
Let's consider these items in more detail. It is very important to be able to segment your database into various categories. For example,
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
ou will want to know whether each contact is a buying customer, an enquirer that has not yet bought or a targeted prospect. Targeting is the first priority with marketing, so you want to build your database with
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
contacts that are genuine targeted prospects and not merely suspects. In order to achieve this you need to have a definition of a targeted prospect. Here are some of the criteria that you might want to include:
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
- Geographic area
- Spending power
- Likely need for your product or services
You can also categorise your existing customer base by giving each customer a quality rating. This will
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
include their past purchases, likely potential for the future, the profitability of their business and servicing requirements. The easiest way to store and retrieve this information is to establish a category co
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
e that is made up of the various elements of your criteria. For example, a code such as "C1HP5" could be made up of "C1" (existing category 1 customer), "HP5" (Post code area). Enquire
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
s and prospects could be coded similarly with prefix "E3" (enquirer category 3) for example and "P2" (Prospect category 2).
The source of contact would show whether they originated fro
The source of contact would show whether they originated fro
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
say a customer referral, an advertisement or a purchased list etc.
A purchasing history will include date of purchases, amount spent and nature of purchase.
Response to offers
A purchasing history will include date of purchases, amount spent and nature of purchase.
Response to offers
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
> would list each time that you received a response to an offer from each contact. By recording their responses you are able to fine-tune the offers you make available to them ensuring that they are increasingly
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
more appealing and appropriate. This is an ongoing process of refinement that I refer to as "Closed Loop Marketing".
You also need to know whether the contact has opted out
You also need to know whether the contact has opted out
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
rong> of any email, telephone or fax approaches. In addition, it is good practice to know their preferred contact method. For example some people would rather speak on the phone and others prefe
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
email or contact by letter.
How to use the information
The more you know about each of your contacts the more appropriately and accurately you can communicate intelligently. If every communic
How to use the information
The more you know about each of your contacts the more appropriately and accurately you can communicate intelligently. If every communic
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
ation offers something of interest that is informative and worthwhile for them then you will gain more respect as a supplier and garner greater responses from your offers.
Over time you will be able to add to y
Over time you will be able to add to y
.
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
ur data with personal interest information relating to family names, birthdates, name of pets and hobby interests. This will enable you to build rapport and greater understanding of their needs, circumstances an
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
ongoing purchasing requirements. It is only through regular, meaningful and valuable contact that you will ensure your customers' expectations are being met and they will come back to you to buy again and again
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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