Advice You - Business

Advertising is an investment in your business and is similar to other investments that are designed to improve and expand your business. The return you receive depends on the planning and thought that precede the actual commitment and expenditure of advertising dollars. By first

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

developing an effective advertising plan, you increase the likelihood of a positive return on your advertising investment, regardless of the amount of money you spend.

Four Basic Questions

The basic premise of an advertising plan requires you t

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

Examples of combination products may in

thoroughly analyze the answers to key questions before you can make effective advertising decisions. There are four key questions to ask yourself:

1. What do I want my advertising to accomplish?

2. Who should my advertising speak to?

3. What should my advertisin

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

g say?

4. What advertising medium should I use?

In a specific business situation, each question has any number of potential answers. As you think about each question, do not accept any answer until you have considered and explored the full range of possibilities.
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here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

r>What Do I Want My Advertising To Accomplish?

The first step in developing your advertising plan is to specify your advertising goals. Be as precise as you can as to why you are advertising and what you want to achieve. Everyone wants advertising to increase b

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

Combination pro

siness, but for your advertising plan to work, it requires you to be more precise. Some possible goals for your advertising are:

To increase awareness of your business.

To attract competitors' customers.

To increase the likelihood of keeping current

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

customers and developing their loyalty.

To generate immediate sales or sales leads.

It is possible that you may want your advertising to achieve all of these goals plus some others. What is important is that you prioritize your goals. Advertising works best when it

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

is developed to meet one specific goal at a time.

Who Should My Advertising Speak To?

Once you determine your advertising goals, you can then select the target audience for your message. Keep in mind that advertising that tries to reach "everyone" rare

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

ly succeeds. Successful advertising is written with a specific customer in mind. Try to picture the person you must reach in order to achieve your advertising goals. Try to describe your target consumers in each of the following:

Demographics: such as gender, age, income, l

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

cation of residence or business, etc.

Behaviors: such as current awareness of your business; the products, services or vendors they currently use; loyalty to either you or your competitor's business, etc.

Needs or desires: such as what benefits consumers look f

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

r, the basis on which they will decide whether to use your product or service, how your business can fulfill those needs, etc.

What Should My Advertising Say?

Once you know who your target audience is and what they are looking for in terms of the produc

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

Following aspects would a

t or service you offer, you can decide what your advertising will say. Advertising should always be written to communicate a message that will be seen as important by your target customer. Your advertising should clearly and convincingly "speak" to your target audience, explaining the i

dd to the challenges in developing combination products:

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

portant benefits your product or service offers. In deciding how to discuss the major benefits of your product or service in your advertising, keep "AIDA" in mind: attract Attention, hold Interest, arouse Desire and motivate Action.

Where Should I Place My Advertising?<

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

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Every month, new advertising options become available. Beyond "traditional" media you can place ads in airports, on ski lifts and on television monitors in the front of grocery carts. Where you place your advertising should be guided by a simple principle: Go where your

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

target audience will have the highest likelihood of seeing or hearing it. Many advertising media work well to reach a diverse range of target consumers. There is no single medium that is inherently good or bad. In fact, a good medium for one product or service may be a poor medium for a

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

other. As you consider media choices, look for one that fits your advertising goals, reaches your target efficiently and cost effectively and is within your advertising budget.

Learning how to persuade and influence will make the difference between hoping for a better income and

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

Professional from academic institutions, pharmaceutical industries, health care indust

having a better income. Beware of the common mistakes presenters and persuaders commit that cause them to lose the deal.

Conclusion

Persuasion is the missing puzzle piece that will crack the code to dramatically increase your income, improve your rela

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

ionships, and help you get what you want, when you want, and win friends for life. Ask yourself how much money and income you have lost because of your inability to persuade and influence. Think about it. Sure you've seen some success, but think of the times you couldn't get it done. Has

.

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

there ever been a time when you did not get your point across? Were you unable to convince someone to do something? Have you reached your full potential? Are you able to motivate yourself and others to achieve more and accomplish their goals? What about your relationships? Imagine bein

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

Companies that provide selfless information through particip

able to overcome objections before they happen, know what your prospect is thinking and feeling, feel more confident in your ability to persuade. Professional success, personal happiness, leadership potential, and income depend on the ability to persuade, influence, and motivate others

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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