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Advice You - How to Market Like Warren Buffett – Through the Eyes of An Investor.
Let’s take a break for a minute from the flashy TV ads and the phone calls at dinner time asking us to change long distance plans.
Let’s put away and forget everything we know about marketing
Let’s put away and forget everything we know about marketing
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
just for a second, just long enough to see it from another angle, because in a minute I want to show you how to look at marketing and investing that will change your life forever.
To start,
To start,
; 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
ow do we define the two terms: marketing and investing? Well, investing is defined as “to commit something (usually money) in order to obtain a financial return.” But the word is based from t
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
e word investire in Latin, which means “to clothe, or to cover, gain control of something.”
So investing is all about gaining control over something in order to obtain a return correct?
Okay
So investing is all about gaining control over something in order to obtain a return correct?
Okay
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
, now let’s examine what marketing means. Marketing is defined as “the total of activities involved in the transfer of goods from the producer or seller to the consumer or buyer, including ad
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
ertising, shipping, storing, and selling.”
But why on earth would someone want to transfer their goods to a consumer?
To make money, to make a profit and to grow larger as a business that’s
But why on earth would someone want to transfer their goods to a consumer?
To make money, to make a profit and to grow larger as a business that’s
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
hy. At least, that’s how it is in a capitalistic society, which I am presupposing.
So, can you see how the two concepts are linked? Can you see how the very act of marketing is also investin
So, can you see how the two concepts are linked? Can you see how the very act of marketing is also investin
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
g?
Now, let’s take a page out of the book of the most famous and ridiculously rich investor, Warren Buffett. You know him; he is the king of marketing. He above everyone else, understands h
Now, let’s take a page out of the book of the most famous and ridiculously rich investor, Warren Buffett. You know him; he is the king of marketing. He above everyone else, understands h
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
w investing and marketing are linked.
What’s important about his style of investing is that he doesn’t hold the charts, graphs, market capitalization, and the other technical business statist
What’s important about his style of investing is that he doesn’t hold the charts, graphs, market capitalization, and the other technical business statist
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
cs with the same importance as does Wall Street.
In fact, he snubs Wall Street by looking at the fundamentals of the marketing aspects of a business. Let’s examine them; there are only 3 rea
In fact, he snubs Wall Street by looking at the fundamentals of the marketing aspects of a business. Let’s examine them; there are only 3 rea
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
big ones:
1) He understands that you shouldn’t fight the market. If people all of a sudden wanted Pogo Sticks instead of Coca-Cola, then he would look at that company. He looks for winners
1) He understands that you shouldn’t fight the market. If people all of a sudden wanted Pogo Sticks instead of Coca-Cola, then he would look at that company. He looks for winners
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
and products that market must have.
2) He understands that in order to protect a future investment, the product must have a high profit margin – in other words, it cannot have a lot (or any)
2) He understands that in order to protect a future investment, the product must have a high profit margin – in other words, it cannot have a lot (or any)
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
competition. He calls this a “consumer monopoly.” A product that can ride through the ups and downs of a roller coaster economy and still retain healthy margins.
3) He understands consumable
3) He understands consumable
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
. He wants to know that a consumer of that product will be buying that product again and again. That is the secret, he understands, to protecting his investment. A product that is a one tim
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
e sale, will force the company to spend all their efforts on pursuing new customers. An effort, that is not only extremely costly, but takes away from their ability to innovate.
He picks the
He picks the
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
companies with those 3 attributes and waits for the price to go low so he can get a great return on investment.
So what can we learn about Warren Buffet’s marketing approach to investing? A
So what can we learn about Warren Buffet’s marketing approach to investing? A
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
ot.
If you are in business: Look at your own business and see if you can apply his 3 basic fundamentals to your business. Come up with creative ways to increase your profit margin and test t
If you are in business: Look at your own business and see if you can apply his 3 basic fundamentals to your business. Come up with creative ways to increase your profit margin and test t
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
hem out, before you commit.
If you are an investor: Look at the companies you want to buy or already have bought. Will they provide you the return you want? Does their business model contai
If you are an investor: Look at the companies you want to buy or already have bought. Will they provide you the return you want? Does their business model contai
.
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
any of those three fundamentals? If not, perhaps they might be worth re-examining.
While Warren is unusual in that he made so much money, his principles are sound.
If you are looking out f
While Warren is unusual in that he made so much money, his principles are sound.
If you are looking out f
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
r the long term then investing and marketing become clearly linked together. Because with both of them, you expect an outcome that takes you further ahead compared to where you were yesterday
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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