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John Wanamaker, a 19th century entrepreneur, once famously made the statement, “I know that half of my advertising is wasted, I just don’t know which

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

half.” Fortunately for today’s marketers, there are scientific ways to determine which half is wasted, and which half is not, through the use of c

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

Examples of combination products may in

mmon direct marketing measurements.

Advertising is, and has always been, part art and part science. With direct marketing, the science part takes c

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

nter stage as there are common direct marketing measurements that can be utilized to verify the results of the advertising.

With the increased popul

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

rity of direct marketing, the success of advertising can be measured through a variety of common direct marketing methods such as cost per acquisitio

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

Combination pro

n, cost per piece, and response rate.

Before continuing in describing these common direct marketing measurements in detail, it is beneficial to revi

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

w one of the direct marketing tools needed to determine the success of the mailing. The most important direct marketing tool is the response mechani

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

m. This is how you can gauge the success, or lack of success, of a direct mail campaign. This is the mechanism by which the prospect will use to re

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

pond - it may be a postcard to request more information, an 800 number to call, or a website address to place an order. You can than utilize this re

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

sponse to determine the success of the direct mailing.

The first of the most common direct marketing measurements is the cost per acquisition. The

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

ost per acquisition can be determined by taking the total cost of the mailing and dividing it by the number of responses. For example, let’s say the

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

Following aspects would a

total cost of a mailing is $2,000 and 20 people respond. The cost per acquisition is $100. This is an important tool to find out if the cost to obt

dd to the challenges in developing combination products:

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

in a new customer is in line with the profits that you will receive.

The second of the most common direct marketing measurements is the cost per pie

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

ce. To find the cost per piece, you would take the total cost of the mailing and divide it by the total number of pieces sent. For example, if the

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

otal cost of the mailing was $4,500 and you sent 2000 direct mail pieces, the cost per piece would be $2.25. This is an important figure to keep in

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

ind, because by lowering the cost per piece (as long as the number of responses stays the same), you can lower the cost per acquisition.

The third o

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

Professional from academic institutions, pharmaceutical industries, health care indust

the most common direct marketing measurements is the response rate. The response rate can be calculated by taking the number of people that respond

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

ed and dividing it by the number of people that were sent the direct mail package. For example, if 2000 people were mailed a direct mail package and

.

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

20 people responded, the response rate would be 1%. This is an important tool that you can utilize to forecast the success of future mailings.

By u

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

Companies that provide selfless information through particip

ing all three of these common direct marketing measurements, you can finally determine which half of your marketing is working, and which half is not

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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There are peculiar natural qualities needed to make a good salesperson, and if you do not have these, you’d better turn your attention to some other career, for you cannot succeed here. Yet two men who are equally good salesmen, may be almost totally unlike. Almost. They must be good judges of human nature. How shall you become a good judge of human nature? You might as well ask me why the violets are blue; I cannot tell you.

Dr. Ebow Coleman, PE - owner of C3S, Inc. an international civil / materials engineering consulting firm based in Houston, Texas. This article is an explanation of the main ingredients of concrete.

If you want to boost your service business revenues consider these ways to improve customer loyalty and generate more sales - without investing in expensive advertising campaigns.

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