Advice You - Business

Sales Promotions are Better Than Advertising... Sales promotion is an advertising channel that is directed at boosting short term sales through coupons, discounts, contests, rebates, free samples, incentives, cr

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

oss-product promotions, and point-of-purchase displays. These promotions involve every level of the sales channel – distributors, retailers, sales people, and consumers.

In most cases, sales promotions are better at reaching co

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

Examples of combination products may in

sumers with direct contact than traditional advertising channels are. Sales promotions also can have a more meaningful impact on customers. For example, free samples and point-of-purchase displays will often be accompanied by a

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

store manager or employee who can explain the product and provide further information. You can’t sample a TV commercial or get more information without going to the store or getting on the internet.

... for Four Reason

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

Advertising Fragmentation – When you advertise your products, you can run into a problem known as advertising fragmentation. This is when your advertising encompasses too many channels and forms an in

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

Combination pro

consistent or distorted message. Your target market may be small, but you’re using channels that are too large to reach them.

Sales promotion has the advantage here because you can really control the message y

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

u send. Most of your promotions will be in store (samples/cross-promotions/point-of-purchase) or the content is created by you (coupons/discounts/contests/rebates). Advertising images and slogan change for many companies when 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

hey change ad agencies. However, there is no fear of sending an inconsistent message here because sales promotions are short term.

Accountability – Measuring the number and value of the impressions you get from

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

an advertising campaign can be very hard. You almost always have to ballpark it. However, because many sales promotions are done face-to-face with the consumer either in store or in contact with your promotions, it is

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

easy to measure. You can measure coupon return rates, rebate rates, point-of-purchase sales, and contest entrants. Now you can go back and re-evaluate not only your sales promotion programs, but your entire marketing campaign.

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

Product Proliferation – It can be difficult to cross-promote products through regular advertising. You can ensure that your name is visible and your brand is recognized, but how many people actually listen to th

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

Following aspects would a

e “meat” of the commercial that’s talking about the free $20 Mobile gas card that comes with the purchase?

With sales promotion, it’s very easy to cross-promote inside and outside of your company. When a customer purchases some

dd to the challenges in developing combination products:

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

hing, you can physically hand them a coupon good for another product. You can relocate items on shelving to help the cross-promotion efforts. Sales promotion, specifically cross-promotion, works best when you have a very large

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

product line. With this, you can go to other businesses and present cross-promotional ideas on each of your products. The more products you have, the more cross-promotions can be created.

Short-Term Results –

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

n advertising campaign rarely draws in short-term sales. There has to be some immediate call to action for that work. However, sales promotions are notorious for producing quick revenue. Managers will usually implement some sa

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

les promotions programs if they see they are coming up short for their quarterly close. Running discounts on out-of-date products or coming up with point-of-purchase displays that sell the latest products really work to boost re

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

Professional from academic institutions, pharmaceutical industries, health care indust

enue for a short period of time.

Advertising cannot do this. Not only is there a lengthy process is planning out an advertising campaign, determining message consistency, and coming up with ways to measure impact, but ad campai

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

gns must run for a while before they even make an impact.

But You Still Need Advertising You may say that a marketing campaign cannot survive with simple sales promotion programs. I agree with you. A

.

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

vertising gets people in your door while. Once they’re there, sales promotions sell them more and strengthen your brand image.

Advertising is broad, long term, and is hit-or-miss. Sales promotions are focused, short-term, and

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

Companies that provide selfless information through particip

dependable. Weigh the pros and cons and figure out what your campaign needs. But be aware that sales promotions are very reliable to implement on local or regional scales. They may take more work, but it is definitely worth it

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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When dealing with business, legal contracts like Non-Disclosure-Agreements (NDA) are always necessary to protect your business. This article explains what are NDAs, why we need them for business dealings, and also how to apply them appropriately to the context of your business.

Business cards can be an ongoing advertisement of your business. Unlike flyers they will not just be tossed away in the nearest trash can. Most people tend to keep these cards in a safe place to be referred to whenever they are looking for something in particular.

Business cards are continually in use and never seem to lose their popularity. They are conveniently small and contain no unnecessary information. The essential details of a business are all printed on the card. At one glance the receiver of the card will know what type of business if is and where it is situated.

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Advice You - Stop Blowing Money on Ads and Start Promoting Your Products

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