Advice You - Business

One of my clients has decided to focus his marketing budget into fewer channels in order to get a larger response from this concentrated spend. So he asked

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

me "Why should I continue to use my Public Relations agency? Why should I invest in PR next year?"

Well, I see PR as a cost-effective way to pl

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

Examples of combination products may in

ce your name in your chosen media and get them to advertise your business. On the back of a good business story, if you can also get editorials written

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

about you, the power and authority of the newspaper, radio station or TV channel will influence and sway your market more cheaply than a paid-for full-page

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

spread or 1 minute ad.

Be visible to prospects and your existing customers

Prospective customers need a positive perception of you and your

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

Combination pro

products and services before you can sell to them - if they do not believe your benefits proposition, they will not buy. When they hear or read about a thi

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

d party speaking well of your business activities, they are encouraged to believe in you.

Existing customers are always interested to see you invol

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

ved in local or national affairs. When they see you raising money for a Disaster Appeal, picking litter off the beach, or running a marathon for breast can

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

er, they connect you with a positive caring and helping image, re-inforcing their belief that they made the right decision to buy from you.

Re-introdu

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

e yourself to lapsed and forgotten customers

Lapsed customers also need to be reminded how they used to enjoy buying from your business. Seeing

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

you open a new office or launch an innovative service reminds them of the good service you gave them a while ago, and the quality of the products they used

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

Following aspects would a

to buy from you. Following up your PR by re-contacting previous customers can be a mine of easy business.

Give your employees and work contacts someth

dd to the challenges in developing combination products:

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

ng to talk about

Your suppliers and employees also benefit from an interesting news coverage: they can say to their friends and relatives ‘I wo

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

k for them’. An interesting story can ripple out through their pubs, gyms or social clubs, giving you a viral word-of-mouth referral to many new customers.

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

Your work team will also gain morale from being associated with a newsworthy business, so their sales technique will be more effective.

Focus y

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

ur efforts on getting the message out

As with all marketing, you need to plan the response you expect from your investment and then measure

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

Professional from academic institutions, pharmaceutical industries, health care indust

our actual response.

If you focus how you place your PR, you will find that quality is more important than quantity - news editors are swamped with mu

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

dane stories so they select for the most interesting news material.

Using a results-driven PR agency means that your fresh ideas can be proj

.

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

cted in an interesting format to build the idea that your business is fresh and interesting too.

And you do not need to manufacture stories about your com

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

Companies that provide selfless information through particip

any because there are probably lots available for you. All you have to do is to tap your staff for the positive stories that they would love to tell

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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In only one book Sun Tzu managed to organize all of his knowledge and the principle rules of the battlefield, such as strategic thinking, effective and understanding leader, the disciplined worriers, the deceptiveness and flexibility in the war, and most importantly the necessity to avoid direct battles when possible. All of the above rules are commonly used and implemented today in the business field, as without strategies companies collapse.

The Open Source market makes a strategic assault on the application space by offering what commercial vendors can't or won't.

Nowadays it is trendy to compare doing business with military strategy - from Sun Tzu to Klausewitz, the book world has lately seen a wave of titles dedicated to the works and teachings of talented military men of the past. While I don't think that doing business in Russia is exactly akin to a battle, there are still some lessons a foreign investor can pull from Russian military strategy to better understand his-her partners and find success in his ventures on Russian soil.

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Advice You - Business Media Marketing: How Good is Your PR and Who Does it Reach?

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