Advice You - Business

You may be aware that diamonds are graded by 4 C's: Cut, color, clarity, and carat weight. Suppose marketing, too, had its 4 C's. We call them Commitment, Consistency, Connection, and Change.

And they apply

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

whether you own a retail shoe store; are a professional such as a financial advisor, attorney or consultant; have an internet business selling coat hangers; offer a service for laser welding; or provide voice-ove

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

Examples of combination products may in

s for commercials.

#1 Marketing C - Commitment

Marketing isn't a once-in-awhile, take-it-or-leave-it activity, but a continual commitment. Business owners and professionals who are serious about growing their

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

businesses may invest as much as one-third of their time in marketing. To them, marketing is an ongoing process to:

- Gather the information they need,

- develop a plan,

- invest resources to carry out their

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

lan, and

- learn from the outcomes.

Recently, a friend of ours quit her job of 12 years to become a consultant. In her new role, her former employer offered her all the work she could handle...and more. The c

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

Combination pro

mpany wanted her for two projects -- each one would give her three days of work every week for several months. She, however, wasn't tempted by the lure of all those billable hours.

She realized that the way to

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

grow her business and to expand her capabilities was to keep time free each week to make plans for working in new areas and to attract new clients. She saved time to thoughtfully explore the different directio

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

s she would like to take her business (especially leveraging her expertise and experience) and to initiate marketing methods to make this happen.

#2 Marketing C - Consistency

Think of it this way. If you wan

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

to lose weight, you can add 2 flights of stairs to your normal physical activity each day. Just by doing that simple thing -- consistently -- you will lose about 12 pounds a year. What if you added to your bus

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

iness the marketing equivalent of 2 flights of stairs every day? How much new business do you think you will attract?

Consultant Paul Fraser found himself with just a few small jobs one year. He knew why. As

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

result of the profitable marketing he had done previously to start his consulting practice, he became "almost too busy" the prior year. He didn't set aside time to invest in marketing. As a result, he sacrifice

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

Following aspects would a

future clients, stability, and growth to present busyness and income.

So more than halfway through the next year he still experienced a painful lesson. He knew what to do about his marketing (and he had plenty

dd to the challenges in developing combination products:

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

of time to act on his strategies), but the big jobs he needed weren't appearing overnight.

#3 Marketing C– Connection

Apply creativity to make vital connections. The ones we are talking about are connections

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

ith your ideal market -- to gain more of the type of customers and clients you really want to attract.

First, it is essential to define your Ideal Customers with clarity. They may be ones who come back again an

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

again to purchase what you offer. They may give you the least hassle. They may be a fountain of referrals. Or they may be early adapters leading you to a promising new area of business. Be sure you know exac

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

tly who they are and where you will find them.

And, then, through your marketing, connect with them by speaking vigorously and in a straightforward manner directly to their wants and needs. That's where true cr

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

Professional from academic institutions, pharmaceutical industries, health care indust

ativity in marketing lies.

Also, remember, marketing is more than keeping in touch with new prospects. Connect to your current customers and clients. They will make a valuable contribution to your future -- for

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

more purchases and fees and for referrals.

The more deeply you connect the more opportunities you open to gain the marketing results you’re after.

#4 Marketing C - Change

The biggest barrier to making a change

.

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

is...you. At the same time, the only lever for change is within you. If you want to bolster your marketing results, then the 4 C's show you how. Breakthroughs can happen in as little as 30 minutes a day when

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

Companies that provide selfless information through particip

you practice high-gain activities. Be Committed to marketing, Consistent in your efforts, and Connect with the right people with a welcome message.

You’ll see lasting results from Changing to the 4 C’s approach

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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Part of the glamour of traveling to conferences is staying in hotels - all brands, varieties and levels. One thing I've recently noticed is many hotels are teaching their employees to listen to the guest. Not in the traditional sense, but at a new level, and it's something restaurants can borrow a page from.

Getting the ball rolling in an online business is the hard part. Just get going, and as you gain practice and momentum, good things will start to happen!

In all the businesses we conduct, there are customers. And they are the life-blood to us. It's TRUE! Despite all the million and one things we are doing - we've got to have paying customers! Nevertheless, just five things will dictate success or failure. Have you got them right?

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Advice You - Follow The 4 C's Of Marketing For Optimal Results

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