Advice You - Business

Advertising is an ongoing process that is designed for sustainable results over time. However, when your ad contains a coupon, a spe

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

cial time-limited offer or other inducement to act immediately, you can get measurable results almost at once - provided your offer, timing

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

Examples of combination products may in

and media selection were right and you had already established a rapport with your audience.

Remember that a single ad does

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

not an advertising program make! Each individual advertising exposure, whatever response it generates, contributes to a residual result tha

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

will eventually show up at your bottom line: name recognition, reputation and trust. Establish a method to determine how customers found yo

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

Combination pro

u and keep track of the results. Some companies routinely ask, "How did you hear about us?" of every new customer who phones or visits. Othe

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

rs have a "Referred by" box filled in on each invoice. Whatever system you use, unless you've done a coupon promotion and can simply count th

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 number of coupons redeemed, tracking is the only way you can assess how effectively your advertising is working. Tracking tells you which

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

ds or media bring inquiries and which bring sales - a key distinction. If you track by invoice, you can also determine how much revenue each

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

ad dollar is producing.

Most important, tracking helps you decide how to readjust your advertising program periodically to make you

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

r budget work its hardest. You'll know when to discontinue certain media and publications and when to pump more money into others. You'll als

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

Following aspects would a

o be able to see which Yellow Pages directories and headings pull hardest for you. And you'll know when results are dropping off from previo

dd to the challenges in developing combination products:

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

sly good sources, signaling that it's time to give them a rest. In the end, advertising is a trial-and-error process. You may need to spend

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

several years trying out various advertising options and assessing results to know the target markets and media mix that work best for you.<

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

br>
To gauge long-term results, go back to your original benchmark. Were you successful in attaining the goals you set up? Now look at

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

the specific advertising vehicles you employed. Which media were most effective in a quantifiable way - not for a specific ad but during your

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

Professional from academic institutions, pharmaceutical industries, health care indust

overall campaign - in terms of response versus cost expended? Which offers worked best? What pricing levels brought in the biggest sales? Di

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

d you see steeper upward curves during certain times of the year? Armed with this analysis, you can fine-tune your overall advertising progr

.

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

am, and its individual components, for the next year or years. The value of advertising - as a complement to other promotional efforts - ju

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

Companies that provide selfless information through particip

stifies it as an integral part of your marketing strategy. And yes, it does get easier as you test, refine, re-evaluate and measure over time

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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This is the third in a series of articles about the internationally collected sculptor, Nina Winters.

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