Advice You - Business

There’s a lot of maneuvering going on in today’s entrepreneurial marketplace. Everyone’s trying to get their piece of the action or in some cases, all of the action. How does a business get an edge?

Many businesses have products or services that never get the recognition and commercial success they should simpl

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

y because they are the victims of bad or improper marketing, advertising and public relations. No matter how great the organization believes their product or service is, if they haven’t put together a plan to inform their target audience that it’s on the market, they might as well close up shop.

An effective ma

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

Examples of combination products may in

keting plan should incorporate a clear knowledge and understanding of whom the company sees as their customer. This can be accomplished by researching who currently uses a similar product or service. In the case of consumer products and services find out where potential customers live, how old they are, what the

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

ir shopping habits are, what newspapers they read, television shows they watch, radio stations they listen to, and when applicable, what gender or ethnic groups they are. All this information is available on the web, through media and marketing consultants, chambers of commerce, trade associations and newspapers

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

magazines, television and radio stations.

If you are a business-to-business organization the overall research will be similar, however, the targets will be different. Find out what companies and organizations use comparable products, where they are located, what the usage rate is for their industries, what pro

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

Combination pro

blems are pervasive relative to your type of products and/or services, and what trade periodicals they read. The periodicals will, quite often, help you with data to support your marketing decisions if they feel that you may advertise in their publications.

After you or your marketing professional has completed

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 research, break your plan into three distinct areas: marketing, advertising and public relations. Each area supports the other but is a separate entity unto itself.

Marketing is the function of selling products and services by communicating with the targeted market directly. Marketing deals with the shape o

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

f the bottle; color, style and feel of the blouse; logo and tag line of the brand and/or company; placement of the product in stores; look of the salesperson; a brochure’s graphics, fonts, textures and photos; design and functionality of a machine, website and/or product; and all the other nuances that create a

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

irect impression in the mind of the customer and/or prospect.

A logo that is too confusing or amateurish can leave a prospect wondering about the credibility of the organization. The “wrong” paper stock in your brochure can do the same. A salesperson that is untrained or unkempt projects a marketing message tha

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 says the company is not up to par. How often have you passed a product simply because of the look of its packaging? We all are guilty of judging a book by its cover…that’s marketing!

Your product or service must reflect a sellable marketing image.

Public relations (PR) is the function that builds relationshi

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

s and camaraderie between a business and its target markets. Whether it takes the form of a feature story about the company and its founder in the local newspaper, is done as a planned special event, or is a report or interview on the national news, the public relations function makes the reader, viewer or liste

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

Following aspects would a

er feel closer to the organization, its founder or spokesperson, and its products and/or services. That is, of course, if the stories are positive. Bad public relations can destroy an organization, as we all have seen within the past year. The old adage that there’s no bad PR…because as long as they’re talking a

dd to the challenges in developing combination products:

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

bout you, it’s better than no PR at all, is a lot of garbage. Just ask the folks at Rite Aid, Enron, WorldCom and Martha Stewart.

Make sure that before you execute your public relations campaign you have all aspects of what you are about to promote fully understood. Rehearse your responses to what you think you

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

may be asked (even the more controversial items). Have your facts easily accessible. And don’t prompt questions into areas you know nothing about. It’s ok to say, “I’m not sure.”

A common error that befalls many businesses is that the lure of the media is stronger than the preparedness of the organization. It i

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

s not unusual for a company to hear the call of the media and jump at the chance to appear without sizing up the capabilities of the organization. Once a media outlet (whether it’s consumer or trade) comes calling and you and your company answers the call unprepared it is extremely difficult to get the same publ

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

cation, television or radio station to return. Being unprepared also means having the means to handle the onslaught of business that often comes with media exposure. If you are not ready to handle the increase in customers don’t execute the PR plan, it’s the easiest way to lose credibility and clients.

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

Professional from academic institutions, pharmaceutical industries, health care indust

ing is the third side of the marketing triangle. It is used to sell an organization’s products and/or services outside of their locations in order to bring customers or clients to the store or office (or have them contact the company by phone, fax or e-mail). Advertising is done through paying the mass media for

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

space in their publications or time on their radio or television stations. Advertising integrates many of the marketing elements into its implementation. McDonald’s “Golden Arches” are a marketing element that appears in all its advertisements, as is Nike’s “Swoosh”. Target advertising can be quite effective. Un

.

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

targeted advertising can create an unnecessary revenue drain.

A business that is positioned for success is a business that understands the importance of the integration of marketing, advertising and public relations. Each area supports the other. To do two without the third is like building a two-legged chair.

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

Companies that provide selfless information through particip

pend the time to examine how you want to position and promote your organization. Stand back and realistically ascertain your target markets and how you intend to capture them. Then create, with the help of a professional if need be, a strong and viable three-pronged marketing plan that will enable you to succeed

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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Are you one of those people who live life trying to impress others? Well, if you are, you are headed for major disappointment. You see, 90% of ALL people in multi-level marketing barely make enough money to pay off their gas bill. Yet they stick around and continue to lose more money because they want their upline to be happy. If you are one of them, why are you still sticking around another year and killing your own future?

You pay commission for each closed sales to your sales reps. You don't pay any commission to your customer service reps. Perhaps you should. Perhaps it's time to start paying commissions to your customer service reps. Here's why.

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