Advice You - Internet and Businesses Online

Viral Marketing is an exciting form of advertising that fits well with network marketing. Both concepts are based around relationship building.

Viral marketing basically creat

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

es a word-of-mouth referral method by using your existing customers and contacts. Your message is passed around and around, creating exponential growth for your company.

This

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

Examples of combination products may in

s very similar to network marketing. Remember me talking about referring someone to a movie or restaurant you liked? This is the same concept.

Studies have shown that the typi

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

cal internet user is very vocal about their online experience. This means that for each person you reach, you are actually reaching a group of their friends as well. And then t

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

ose friends tell other friends, etc. and you have the kind of growth that is similar to the way downlines grow in network marketing companies.

Let me give you an example of vi

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

Combination pro

al marketing in action. Have you ever received a greeting card from Blue Mountain? They are a very popular free greeting card company on the internet. At the bottom of each car

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 you receive, it allows you the option to give a card back to the sender or anyone else you might like. This is viral marketing in action!

The person getting the card now kno

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

s that Blue Mountain is a reliable company. After all, their friend uses their service. This establishes credibility and trust simply by association! The number one barrier to

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

losing sales is already removed by using this method!

Another good example of Viral Marketing is seen at Amazon.com. At the close of each sale, they ask you if you know someon

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 who might like what you have just purchased. If you do, they offer to email them a note saying that you have just purchased this product and thought they might like it as wel

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

. If your friend orders the same product within a certain amount of time, they receive a discount. This is a brilliant concept because it allows Amazon to reach more people thr

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

Following aspects would a

ugh a credible third party. With every email they send on your behalf, you are endorsing their website, and taking part in their viral marketing campaign. In essence, they are

dd to the challenges in developing combination products:

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

getting you to do their advertising for them!

So, why would someone spread YOUR advertising message around to others? What have we been talking about in almost every section?

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

ENEFITS! The bigger the benefit that you can offer to people, the more likely that they’ll pass it along.

For example, create a free report with valuable content and include a

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

"pass it on" link at the bottom. If you have a newsletter, or write articles for one, put a line at the bottom of your article – "Know someone who would be interested in this?

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

Click here to email it to them!"

What benefit does the person sending these receive, you might wonder? They are offering valuable information to friends and colleagues. They a

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

Professional from academic institutions, pharmaceutical industries, health care indust

e helping them out, and in the process, establishing you as a person worthy of their trust.

Contests are also an effective way to generate interest. Encourage people to refer

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

heir friends to sign up for your contest. For each friend they sign up, they could receive another entry into the drawing.

In whatever form you chose, remember to ask the pers

.

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

on for the referral, rather than just hoping that they’ll do it on their own.

Take some time to think about how viral marketing can be used to further your business. Look arou

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

Companies that provide selfless information through particip

d and see what other companies are doing. Don’t overlook this far-reaching, powerful marketing technique! If done correctly, it could be the most valuable one you will ever use

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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Advice You - Viral Marketing: What It Means and How It Can Impact Your Business

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