Advice You - Business

Those of you familiar with my personal history know that I have a strong background in, and affinity for, digital marketing. Now that my bias is fully disclosed, I’m going to tell you what most traditional ad agencies will not…that the digital medium is far an

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

d away the most powerful, cost effective and measurable form of media available today. Advertising and MarComm budgets can no longer focus solely on traditional communications mediums; rather budgets must be spread across a broader spectrum inclusive of digita

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

Examples of combination products may in

mediums.

Digital content is diverse. Like print advertising and direct mail, the content of the Internet is largely based on the written word. As with printed media, much of Internet related media relies on graphic images to support marketing messages. Howev

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

r, unlike print and direct mail, the Web enables moving graphics and sound to be conveyed to the prospect or customer. In that respect, it is more like radio or television and like the telephone, the Web can enable one-to-one, interactive communication with e-

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

ail, instant messaging and voice. Yet, unlike any direct response medium, the Web can present the customer with a virtually unlimited amount of marketing information in multimedia format.

Print advertising is delivered through magazines and newspapers. Direct

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

Combination pro

mail is delivered via the U.S. Postal Service or another delivery service. Radio and television are delivered via airwaves through passive listener or view devices. Telemarketing is delivered over telephone lines. Only the Internet is delivered directly via a

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

omputer. This is perhaps the most intriguing part of Digital Marketing and one of the primary differentiating factors that sets this medium apart from any other. Unlike any other medium, the computer delivers Internet based content in nonlinear information for

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

mat. All other mediums are linear, meaning they have a beginning, middle, and end.

Digital Marketing is direct marketing at its most developed potential. It is the logical extension of a measurability mentality that is already inbred in business-to-business m

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

rketers. They recognize the importance of the brand, and they understand the need for awareness, but they also know that marketing must go well beyond brand image and awareness advertising. They need marketing that produces results.

As a marketing medium, the

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

digital media has become the easiest, most cost-effective route to global marketing. The stunning cost implications of Digital Marketing in part, fuel the Internet’s unprecedented growth. The Internet is not only cost-effective; it is downright cheap in compar

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

son to other media. It is often estimated that Digital Marketing is 60 to 65 percent cheaper than traditional direct mail marketing.

Used effectively, digital media can deliver personalized content to each and every customer, or even automatically to another

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

Following aspects would a

omputer desktop via push technologies. As a result, a marketer can initiate a one-to-one relationship via e-mail and the Web with a prospect, customer or business partner. The marketer can also learn from that relationship via database marketing and grow the r

dd to the challenges in developing combination products:

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

lationship over time.

A marketer can build and host a Website and reach a worldwide audience at a cost that is far less than the cost of one national television commercial. E-communication has a whole different cost structure from traditional print, direct ma

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

l, telemarketing or television media. There are no media placement costs associated with launching a corporate Website or employing e-mail as a marketing medium. You may have to rent e-mail addresses, but you do not have to engage printers or mail houses, or p

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

ay postage when you disseminate e-mail. There are no hotel, travel or on-site materials costs for Webinars and other virtual events. There are no printing and mailing costs for e-fulfillment. Even order fulfillment is cheaper with the Internet, especially if e

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

ectronic catalogs are used to replace traditional paper catalogs.

Research indicates that Digital Marketing represents a threefold cost-savings over traditional direct marketing. Moreover, Digital Marketing can bring up to 10 times the return of a traditional

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

Professional from academic institutions, pharmaceutical industries, health care indust

direct marketing campaign. The areas in which you will achieve the largest amount of savings are likely to be: fulfillment, delivery, the medium used and the analysis of campaign metrics.

Digital media turns traditional media cost structures upside down. With

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

Digital Marketing, there is nothing to print and mail, there are no advertising materials to reproduce, no telemarketing calls to handle. Websites can reach one, a hundred, a thousand, or millions of prospects or customers for about the same cost. With the pro

.

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

er in-house tools, e-mail can be widely distributed without unit cost implications, unlike direct mail, and at least so far, the Internet is a tax-free commerce zone.

The question is not whether Digital Marketing works, or is Digital Marketing here to stay, b

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

Companies that provide selfless information through particip

t rather how can a business leverage an integrated Digital Marketing strategy that will service their needs both now and into the future. So next time your ad agency is getting ready to pitch, make sure that they include a sizeable allocation for digital media

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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While surfing the 'net, I came across a report about the reduction of identity theft and identity fraud. Obviously, it caught my attention. Following, in part, is that report which was produced by Javelin Strategy & Research, and co-sponsored by CheckFree Corporation, Visa Card, and Wells Fargo & Co.

Change is happening all the time. It is part of the natural order of things, but in business many of us resist change. This article takes on change giving examples of companies that have embraced change and those who have resisted change.

High fuel prices are due to bad US Policy and over regulation of American Business by the FTC.

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