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Advice You - Target Marketing - The Prince Holds a Web Seminar
Once upon a time, there was a young prince who was kicked out of the royal palace. With no place to live and little cash, he needed to find a job
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
quickly. Searching for employment, he stumbled across an incredible line of health and beauty products that paid big. He thought to himself "Per
; 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
ect, the ladies love me. I'll make a fortune!" His product line carried over 3000 products ranging across the board from diaper rash cream to ta
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
ning oils to anti-aging cream. "All the better" thought the prince. There were no limitations, he could attract each and every maiden in the vil
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
lage with his incredible product line - from young to old.
The Prince Attempts Mass Marketing
The Prince decides to hold a web
The Prince Attempts Mass Marketing
The Prince decides to hold a web
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
seminar for all of the women in the village. "I'll land them all with just one stone" thought the prince. Special invitations were emailed to ev
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
ry woman in the village, young and old - from young mothers to grandmothers.
The turnout was spectacular. Prince Mark charmingly welcomed all of
The turnout was spectacular. Prince Mark charmingly welcomed all of
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
the women and began his web seminar. He promoted his diaper rash cream, his tanning oils, and his anti-aging cream for 3 full hours. At first,
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
t seemed like an interesting concept. But soon, grandmothers became tiresome listening to the benefits of diaper rash creams for infants. They h
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
dn't had an infant in the home for years. Mother's were pre-occupied with small children and wandered off thinking about the long list of things
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
hat needed to be done. The young maidens were just too bored hearing about babies diaper rash and grandmother's wrinkles. "Let me out of here!"
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
they thought, and so one after another began to log off. Altough his pitch was filled with charm in an attempt to make each and every woman feel
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
pecial, the women gradually became disconnected as he focused and talked about the other groups needs. They began to feel as though he was not sp
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
aking to them at all. All of the princes schmoozing left a very unfavorable impression.
The prince had thought that by charming ALL of the women
The prince had thought that by charming ALL of the women
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
, that they wouldn't be able to resist his product. They were quick to see past his seemingly sincere gestures. He had attempted to make ALL of
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
he women feel special. But, his attempts left none of the women feeling very special at all.
Had the prince chosen to hold a seminar just for y
Had the prince chosen to hold a seminar just for y
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
ung mother's with childcare available and done his homework about this group of counsumers, he would have caught their interest and their dollars.
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
He would have freed up their minds long enough to listen and it is likely they would have enjoyed the break from their small children. He would
.
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
have been able to focus on this group and hone in on their specific needs like a laser.
The Moral of the Story
Speak to everyon
The Moral of the Story
Speak to everyon
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
and few will listen. Speak to one niche group and your client will feel like they are special and that you are listening to their specific needs
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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