Advice You - Business

One of the biggest challenges many solo-professionals and small business owners face, is actually getting their ma

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

rketing done. Marketing is usually the first thing to get put on the back burner, when business gets busy.

Afte

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

Examples of combination products may in

r all, if you're swamped with sales and clients, marketing isn't usually your top priority, right?

Well, actually

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

, marketing should always be your top priority. It belongs right up there with servicing your clients.

Because if

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

there are two things that will make your business successful for the long run, it's happy satisfied clients (they

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

Combination pro

buy more and they refer their friends) AND a marketing system that continuously fills your business with new pros

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

pects.

So HOW do you stay on track with your marketing, when you get bogged down with running your business?

Her

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

e are 3 tips ...

Tip #1: Make sure you have a Marketing Plan.

When you have a marketing plan, you don't have to

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

re-invent the wheel every time you need to implement a new marketing activity. All of the "heavy lifting" is don

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 when you create your plan. This makes implementation much more efficient.

Tip #2: Create a Marketing Calendar

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

In my 10stepmarketing System, we create a marketing calendar where we map out all of our marketing activities for

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

Following aspects would a

the year. This calendar becomes the roadmap for the year and is an easy way to stay on top of the marketing you'v

dd to the challenges in developing combination products:

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

e committed to.

Tip #3 : Schedule Time

Schedule time in your calendar, day-timer or PDA for all of your marketi

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

ng activities, just like you schedule time to meet clients, pay bills, and go to the dentist.

By scheduling time,

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

you MAKE your marketing a priority and eventually doing your marketing activities will become a part of the way y

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

ou do business.

Your Marketing Step

Have you let your busy schedule, or an aversion to marketing let you get off

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

Professional from academic institutions, pharmaceutical industries, health care indust

track? If so, it's only a matter of time before your lack of marketing starts to have a negative impact on your

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

business.

Take some time this week to create a marketing calendar. Then schedule time for your marketing activiti

.

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

es, just like you schedule time for everything else in your business and daily life.

Abide by that schedule and I

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

Companies that provide selfless information through particip

think you'll be amazed at how easy it is to stay on track! By the way, you can use this system in your life, too

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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The key focus of every business is maintaining a client base that will ensure success and future operations. As such, it is important for businesses to engage in constant self-promotion, to keep the name, products and services on the front of the minds of their clients.

Spreading best practices is heavily dependent on effective communication, influencing people to do new things, or to do old things in new ways. Getting expert help, in the form of skilled writers and communication designers, can make a big difference - unless you forget that you need their skill more than you need them to be experts in your field. You may be more comfortable hiring someone who knows exactly what you know, but you will be throwing your money away if you do.

Dr. Gary S. Goodman's wallet is so fat with loyalty program cards that it barely fits into his pocket. Worse, according to this top speaker, international consultant, and President of Customersatisfaction.com, most of these clubs and frequency plans are NOT REWARDING AT ALL.

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