Advice You - Business

A mistake that entrepreneurs and business owners making is trying to create their own marketing materials or to have an amateur – a friend, relative, or neighbor design their materials. It may seem like you are saving money by do

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

ing your own logo, business card, or website, however, the reality is that you are making a VERY costly mistake that can make your business more likely to fail.

By trying to create your marketing materials cheaply, you end up lo

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

Examples of combination products may in

king…well…cheap. Many business owners do not realize the high cost of this mistake. They do not understand that by having a logo, stationery, brochures, and other marketing materials that looks unprofessional and poorly designed

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

is creating a sub par impression in the minds of new prospects.

When you are in the building and growing phase of your business, you need everything you do to accelerate your success. Your logo and marketing materials are the fi

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

st impression people get of your company – a professionally designed logo contributes to your success by enhancing your business visibility and credibility.

Your marketing tools should move your prospects closer to making a purc

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

Combination pro

ase. You cannot afford to look unprofessional and “thrown together” because you won’t look like the expert you are, and you won’t attract your dream customers. If a prospective customer views your materials as unprofessional or c

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

onfusing, you will lose them to a competitor.

Here are specific reasons why unprofessional marketing hurts you:

1. Your business does not look reliable and trustworthy. Customers may assume your company is more likely to fail b

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

cause you have not taken the time to create a stable branding presence. No matter what business you are in, people want to purchase services or products from a company that appears established and secure. They want to know that y

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

ou will be there for them if they have a problem or need your products/services in the future. Well-established, sound businesses need to look that way.

2. You appear less capable. Larger, successful businesses would never condu

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

t business without professional, custom-designed marketing materials. Using marketing materials designed from templates or by an amateur gives your company the appearance of being flighty and inexperienced. You are less likely to

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

attract professional clients when your business doesn’t appear professional. It may give people the impression that you don’t care about quality and attention to detail.

3. You are less likely to stand out. By using homemade mar

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

Following aspects would a

keting materials, you not only make your business look confused but you also have a problem differentiating your company from your competitors. You don’t have a solid branding strategy, your core-marketing message isn’t being rei

dd to the challenges in developing combination products:

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

forced, and you aren’t memorable.

People make decisions on where they make a purchase based on first impressions and imagery. Anything your company puts out in front of prospects and customers must be of the highest quality. If

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

your logo, website, business cards, and brochures aren’t well designed and professional, why would prospects think your services are any better?

Your appearance sells your company first!

Here are some specific tips to help you

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

ith the first impression you make through your marketing materials:

- Never hand out a homemade business card.

- Don’t print out your own marketing materials.

- Go to a professional designer to create your marketing materials,

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

especially your logo.

- Make sure all of your links on your website work. Avoid "under construction" and simply hide teh pages that aren't completed yet.

- Add your website URL to all of your printed materials.

- Avoid clipart

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

Professional from academic institutions, pharmaceutical industries, health care indust

in your printed materials and never use jumping animals or rotating whirly-thingys on your website.

Remember, people make decisions on where they make purchase based on first impressions and imagery. Anything your company puts

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

ut in front of prospects and customers must be of the highest quality. If your logo, website, business cards, and brochure aren’t well-designed and professional, why would prospects think your services are any better?

ACTION ITE

.

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

M: Conduct an audit of your current marketing materials. What is your logo like? Your business card? Website? Brochure? Are there specific items that need to be designed, redesigned, or rewritten? If so, which ones? Keep in mind,

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

Companies that provide selfless information through particip

your appearance sells your company first! Spending money to have your marketing materials professionally designed is in investment in the future of your company that will pay off 100-fold over time.

Copyright 2006 Marketing Mave

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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