Advice You - Business

I am still amazed that some marketers (not you of course, other marketers) don’t use endorsement

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

marketing or don’t use it to its fullest capabilities.

Endorsement marketing (as you probably kn

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

Examples of combination products may in

ow) is having famous or reputable people recommend your product or service to others. They could

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

be celebrities, star athletes, musicians, etc. For a real impact, choose people that are related

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

to your business and might actually use your product or service.

1. Make no mistake. Before a

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

Combination pro

king anyone for an endorsement, be sure your product or service gives the results you say it does

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

. The celebrity may ask you to prove it before they will agree to give an endorsement.

When Ray

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

Romano agreed to give me a blurb—he first asked to read my book. (Yes, I shamelessly name droppe

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

just now.)

2. Once you find the ideal person to endorse your product or service simply contact

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

them and ask. When proposing any endorsement deal, make it a win/win situation. Tell them you

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

ould get the endorsement and they would get free publicity. (I’ve used this technique time and t

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

Following aspects would a

ime again—and usually they are more than happy to do it.)

3. If they're selling a product or se

dd to the challenges in developing combination products:

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

rvice, you could exchange endorsements (viral and affiliate marketing at its finest). If they as

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

for a fee, try to give them a percentage of the profits instead. (In business, you don’t get wh

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

at you deserve… you get what you negotiate.)

4. Once you get an endorsement from someone, use i

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

on all your advertising and marketing material. Put their endorsement and picture on your Web s

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

Professional from academic institutions, pharmaceutical industries, health care indust

ite. Use their testimonial in your ads. Include it on your product packages. (Have you not see

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

n Fran Tarketon doing this for Tony Robbins and vice a versa?)

5. Realize an endorsement can in

.

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

rease your sales fast. It gives credibility to your product or service.

The truth is this: Peop

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

Companies that provide selfless information through particip

le will usually believe a person that's not related to your business before they will believe you

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.adviceyou.org.ua/article/26382/adviceyou-5-Endorsement-Marketing-Secrets.html">5 Endorsement Marketing Secrets</a>

BB link (for phorums):
[url=http://www.adviceyou.org.ua/article/26382/adviceyou-5-Endorsement-Marketing-Secrets.html]5 Endorsement Marketing Secrets[/url]

Operating a home-based business is wonderful but before you dive in there are some things you need to consider.

Any event can be a success with the right planning. Next time you have an event coming up, think about personalizing it a bit with the right kinds of customized products.

Tags

Links

Advice You - 5 Endorsement Marketing Secrets

Related Articles: