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Digg It - Marketing in an Attention Economy - What Fads Can Teach You
Pixel advertising seems to have caught the imagination of a lot of people. There are scripts to run a site for sale, pixel ad sites popping up all over the place, 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 and I've even seen a pixel-ad MLM. I never really bothered to look, until the question came up in a forum - "how effective is pixel advertising"? - and the answer ; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug. Examples of combination products may in is "not very". I conducted a highly unscientific test by going to Google and typing in 'pixel ads for sale' - and got: Results 1 - 50 of about 1,110,000 for pixel lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together. ads for sale. About one million people, all competing to copy Alex Tew's idea. What most of them are overlooking is that Alex got about 5 million dollars worth here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe of free advertising by being featured on CNN, ABC, NBC, and the CDC for all I know. Yes, you can play with a pixel site, but you won't get the free media exposure d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations. Combination pro . Which means you'll have to buy the millions worth of advertising Alex got for free - and spending 5 dollars to make one isn't my idea of running a business. The 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 trick here is to learn the real lesson - if it's offbeat enough that "Good Morning America" picks you up, you can make money with just about anything. And then y 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 ou get to stand around laughing at the copycats who don't grasp the "good Morning America" part of your success story. Thing is - as entrepreneurs we should be loo nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically king for a way to do something different, that's "Good-morning"-worthy, and that people will give you money for. But as for the advertising? I would rather spend 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 some money on a good classified ad in the Post or the Times than on any pixel ad site - because I *know* people read the Times. Coincidentally, a few days earlier ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi Jason Lewis sent me an article he wrote titled "How To Make Money From Latest Craze Products" - by creating products that complement the latest fad. He used the p ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it. Following aspects would a et rock from 1975 to illustrate his point. The story about the pet rock and the knockoff stuck with me, and I've often thought that such fads repeat every 5-15 ye dd to the challenges in developing combination products: Which markets to tap where the combination products can do fairly well? Which combination prod ars. Then, while discussing pixel ads and things that were offbeat enough to get on "Good Morning America", it struck me that we should be due for a revival of the cts are meaningful and rational? Which therapeutic categories to select? Which Combinations can address unmet needs of the patients? Do combin pet rock about now. If you can get the deal with the trademark holder, that is. And even if you can't, there ought to be something in that vein hitting the market tions increase the patient compliance? What would be the developing cost? How to tackle the risks encountered during combination product developmen for collectibles about now. Now, the rights to the pet rock are probably sown up, and as throwaway ideas go, it serves best as an example. The idea was original 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 in 1975 - today it's at best a revival, at worst a cheap copycat knockoff. But a "Pet Rock Revival" is certainly goofy enough to get on TV - and provided you have ping new procedures for reviewing their safety, efficacy and quality. Professional from academic institutions, pharmaceutical industries, health care indust the deal with the trademark owners in place, they won't be covering your court case on the evening news later that day. Personally, I live on the wrong continent y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products to do anything with this - the pet rocks were never big in Europe. So if you can pick up the idea and run with it - more power to you. Ideas are cheap - turning th . 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 em into money is work. The real question you should be asking yourself though isn't "what can I copy from these specific examples?" It is "what can I create that elopment. They need to be wiser in analyzing the market trends and the regulatory requirements. Companies that provide selfless information through particip will catch people by the imagination?" That's what will get you 5 million dollars worth of free advertising from the media and make you into an overnight success 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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