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Advice You - From Corn Flakes to Combined Annuities - Women Make the Buying Decisions
Details, details, details. They usually bore us men to tears or sleep. Here are some details you won't cry or snooze over when you r
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
ead them. We are asleep at the advertising and marketing switch if we ignore this freight train of information about how women think
; 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
and make decisions.
The five stages of the buying process:
1. Deciding to buy. Women usually make the decision it's time to buy.
The five stages of the buying process:
1. Deciding to buy. Women usually make the decision it's time to buy.
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
2. Research. Women "shop" the market for possibilities, eliminating the non-contenders.
3. Purchase. Women usually close the sale a
3. Purchase. Women usually close the sale a
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
lone (with exception of car purchases) by making the deal.
4. Maintenance. 83% of household finances are handled by women. If they
4. Maintenance. 83% of household finances are handled by women. If they
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
on't like the attitude, treatment or "feel" of the company, they will fire the company.
5. Referral. Women are much more likely to
5. Referral. Women are much more likely to
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
provide referrals. In insurance, over the lifetime of a customer, a woman provides on average 28 referrals, vs. 13 for men.
Did you
Did you
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
catch the word women in each of the five stages above?
The points are taken from an interview by Tom Peters with Martha Barletta a
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
uthor of "Marketing to Women."
This shouldn't be a shock, men, but I want to remind you that women notice more things than men. As
This shouldn't be a shock, men, but I want to remind you that women notice more things than men. As
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
xamples, women notice the belt loop you missed when you got dressed, the look the clerk at the hardware store gave to her, the tone
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
of the teller at the bank. They also notice the grime on the office entry door, the fact that the salesman directs his sales pitch t
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
o the male in the couple and that car repair guy has no patience to explain the problem.
Guys, here is the one thing that I want yo
Guys, here is the one thing that I want yo
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
to notice.
Take a deep breath, focus and read the following sentence.
Women are the primary customers for your goods or service
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
s.
Wouldn't it make sense to spend some time and money to do a better job marketing to them?
That doesn't mean we have to enroll
That doesn't mean we have to enroll
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
n sensitivity school. (although this might not be a bad idea)
It does not mean that we have to create new products or services jus
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
t for women.
Here is what you can do:
1. Recognize and track your female customers who make 85 % of all household purchases.
2. R
Here is what you can do:
1. Recognize and track your female customers who make 85 % of all household purchases.
2. R
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
focus your advertising and marketing efforts to women when appropriate.
3. Reward referrals since women's word of mouth endorsement
3. Reward referrals since women's word of mouth endorsement
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
s will carry much credibility to the listener. Track where the referrals come from and say thank you.
4. A small gesture of a hand
4. A small gesture of a hand
.
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
ritten thank you or gift box of hand soap will create a mountain of good will.
Guys, there is more material than ever available on
Guys, there is more material than ever available on
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
the web and in books and magazines on marketing to women . . .pay attention, are you listening?. . . get the details working for 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
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