Advice You - Business

Here's the #1 secret to sales and marketing: No matter what veneer we put on it, there is only one reason in the whole world that anybody buys anything. Master that co

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

ncept and rule the world. I'm working on it - join me.

So here it is: the only reason that anybody buys anything is to feel relatively good. It sounds almost too simp

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

Examples of combination products may in

e right? Read on...

I call this the Tao of sales and marketing because, like the Taoist model of the universe, first there is nothing, then the one thing, then two th

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

ings, then 10,000 things. The one thing in my model is the idea of wanting to feel relatively good.

Wanting to feel relatively good gives rise to two things - seeking

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

pleasure and avoiding pain. From those two impulses we get our 10,000 made-up reasons for buying stuff.

Every time I talk about this, I make some people uncomfortable

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

Combination pro

Some like to believe that all their purchases are rational. Of course they are frequently the ones buying cars and houses they can't afford. People are great at ratio

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

nalizing everything. Rationalizing is another thing we do to make ourselves feel good.

Brain scan research shows us that every single decision we make starts out in t

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

e emotional center of the brain. Even very simple decisions start as a feeling. Then, we rationalize by moving through the logical centers of the brain. Honestly, if p

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

eople made decisions rationally would we have wars, drug abuse, or karaoke? Probably not.

My wife and I bought a house right after we got married. The price was good,

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

in a good neighborhood, and I knew that the equity would grow fast. But the real reasons we bought were more emotional. It made us feel like we were really married to

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

wn a house. I feel better paying mortgage than paying rent. I have a greater sense of ownership of my home than I ever did with an apartment. It may have made logical

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

Following aspects would a

sense to buy the house, but logic is not enough to get somebody to buy.

A critical part of the Tao of sales and marketing is the phrase, "relatively good". You might

dd to the challenges in developing combination products:

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

ust say, "better". We can't always make somebody feel truly good. However we might be able to take away some of their emotional pain. This is a gigantic motivator for

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

people. Here's a Marketing Comet Principle: The cure to any ill will always outsell the prevention.

How much could you get for a carton of orange juice on a ship of p

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

ople afflicted with scurvy? Probably you could become the richest person on the ship. However, I don't think you're going to increase the perceived value of orange jui

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

e at your grocery store by slapping up a sign that reads, "prevent scurvy!" Not too many people in America feel the pains of scurvy and would be willing to give up the

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

Professional from academic institutions, pharmaceutical industries, health care indust

ir life savings to get a carton of juice.

How to use this in your sales or marketing efforts:

There are many ways to use this principle, here are a few:

1. Make peo

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

le happy when they do business with you.

2. Find out what people's most painful problem is and offer to solve it.

3. Persuade with emotion, and give them logic to ra

.

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

tionalize with

4. Pay attention to the emotional impact of your marketing materials

5. Communicate with people in ways that make them more comfortable

Sales and mar

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

Companies that provide selfless information through particip

eting are ultimately about engineering emotion and state of mind - getting people emotionally ready to buy.

J D Moore - Marketing Comet

Copyright 2005 Marketing Come

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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