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Advice You - What Word Do You Own?
When I hear the word pyschology, I think of Dr. Phil.
When I hear the word motivation, I think of Tony Robbins.
When I hear the word marketing, I think of Seth Godin.
And when I hear the word closeout, I think of my Dad.
Why?
Because each of those people are ind
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
ividuals who, in MY mind, have the most expertise about, and most association with a particular word. That’s called word ownership.
In terms of personal branding, however, word ownership is a great advantage to your business. It differentiates you from your competitors, keeps you in the minds of the people you serve
In terms of personal branding, however, word ownership is a great advantage to your business. It differentiates you from your competitors, keeps you in the minds of the people you serve
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
and positions you an expert. Ultimately, it’s a fundamental key to entrepreneurial success.
Origination
In Al Ries’s famous book, 22 Immutable Laws of Branding, he explains that if you want to build a brand, you must “focus your branding efforts on owning a word in the prospect's mind. A word that
Origination
In Al Ries’s famous book, 22 Immutable Laws of Branding, he explains that if you want to build a brand, you must “focus your branding efforts on owning a word in the prospect's mind. A word that
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
nobody else owns.”
He also and said, “Forget about the laundry list of wonderful attributes your product has. You can't possibly associate them all with your brand name in a human mind. The key to getting into the consumer's mind is sacrifice. You have to reduce the essence of your brand to a single thought or attrib
He also and said, “Forget about the laundry list of wonderful attributes your product has. You can't possibly associate them all with your brand name in a human mind. The key to getting into the consumer's mind is sacrifice. You have to reduce the essence of your brand to a single thought or attrib
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
te. An attribute that nobody else already owns in your category.”
With that in mind, the first question to ask yourself is, “Do I already own a word?”
If so, congrats! You’re way ahead of the crowd. If not, that’s cool too. You’re reading the right article. (Odds are, you already DO own a word, you just don’t kno
With that in mind, the first question to ask yourself is, “Do I already own a word?”
If so, congrats! You’re way ahead of the crowd. If not, that’s cool too. You’re reading the right article. (Odds are, you already DO own a word, you just don’t kno
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
w it yet!)
To discover which word you own, ask yourself the following questions:
*If you looked up the word _______________ in the dictionary, you’d see a picture of my company
*If you googled the word ________________, the first ten pages would be my company’s website
*If was about to give a speech to 10,000 peopl
To discover which word you own, ask yourself the following questions:
*If you looked up the word _______________ in the dictionary, you’d see a picture of my company
*If you googled the word ________________, the first ten pages would be my company’s website
*If was about to give a speech to 10,000 peopl
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
e and one of the audience members came back stage and asked, “So, what’s your speech about?” I’d probably say ____________________
*In my marketing materials, the one word you will find that no other company uses is ______________________
*If CNN called me for an interview, they’d want my expert opinion on __________
*In my marketing materials, the one word you will find that no other company uses is ______________________
*If CNN called me for an interview, they’d want my expert opinion on __________
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
_______
*After people get to know me, they’ll never think about the word ________________ the same way again
*The reason my customers love me so much is because I always help them with _________________
*If people were talking about me behind my back, they’d probably call me “The ____________ Guy”
Obviously, the go
*After people get to know me, they’ll never think about the word ________________ the same way again
*The reason my customers love me so much is because I always help them with _________________
*If people were talking about me behind my back, they’d probably call me “The ____________ Guy”
Obviously, the go
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
l of this exercise is to arrive at the same answer for every question. Now, if can't do that yet, here’s what to do. Ask those same questions to 20 of your closest friends, family members, customers and coworkers. They might match with some of your answers, they might be way off, they might even think of words that
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
never occurred to you! But at least it will give you an objective perspective on your degree of word ownership.
Hey! That’s My Word!
Ok, now that you’ve explored some possibilities as to which word you own, you need to maintain that ownership. After all, that word is yours, baby! Nobody else in the wor
Hey! That’s My Word!
Ok, now that you’ve explored some possibilities as to which word you own, you need to maintain that ownership. After all, that word is yours, baby! Nobody else in the wor
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
ld deserves to own it besides you! Here are some suggestions to make sure you keep it.
REGISTER IT: just for kicks, see if www.yourword.com is already taken. If not, get it! Domain names are like currency these days! If not, register a name with your word in the URL, i.e., www.thebotanyexpert.com or www.perfectfam
REGISTER IT: just for kicks, see if www.yourword.com is already taken. If not, get it! Domain names are like currency these days! If not, register a name with your word in the URL, i.e., www.thebotanyexpert.com or www.perfectfam
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
ilyphotos.com. This will better position you in search engines.
RESEARCH IT: find out everything you possibly can about your word. Search for books on Amazon with your word in the title. Go on Google, type in your word and spend an hour a week reading every entry you can. Look up the etymology of your word’s origi
RESEARCH IT: find out everything you possibly can about your word. Search for books on Amazon with your word in the title. Go on Google, type in your word and spend an hour a week reading every entry you can. Look up the etymology of your word’s origi
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
. Do anything you can to increase your knowledge because, after all, you’re the expert on that word!
RECORD IT: write and publish articles related to your word. Think of yourself as a syndicated columnist, whose weekly articles always have something to do with your word. And if you don’t like or have trouble writin
RECORD IT: write and publish articles related to your word. Think of yourself as a syndicated columnist, whose weekly articles always have something to do with your word. And if you don’t like or have trouble writin
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
g, don’t worry. Just go online and search “article” + “your word.” Thousands of articles on your word will come up and that will stimulate your creativity.
REVEAL IT: once you’ve developed and positioned your expertise on your word, tell everyone! Use it your lateral materials, website, newsletter, public appearanc
REVEAL IT: once you’ve developed and positioned your expertise on your word, tell everyone! Use it your lateral materials, website, newsletter, public appearanc
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
es, client meetings, face-to-face networking or any of your other marketing channels. Shout it from the rooftops! Over time, customers and prospects will recognize the connection between YOU and your word. And they will know that whenever they need help on (insert your word here,) there is no person in the world the
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
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
y’d rather call than you!
What’s Next?
Ok. You now own a word. The world knows it. Your customers know it. Even Google knows it! So the next question is: how will this word change your business?
I’m glad you asked.
Here’s a personal example of word ownership at its finest. It all started with a voi
What’s Next?
Ok. You now own a word. The world knows it. Your customers know it. Even Google knows it! So the next question is: how will this word change your business?
I’m glad you asked.
Here’s a personal example of word ownership at its finest. It all started with a voi
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
email waiting on my cell phone as I walked off the airplane into the St. Louis terminal.
“Yes, Mr. Ginsberg, I’m one of the editors of Cosmopolitan Magazine. I’d like to set up an interview with you for an upcoming piece. Please call me back at the following number...”
When I returned her call, she enthusiastically
“Yes, Mr. Ginsberg, I’m one of the editors of Cosmopolitan Magazine. I’d like to set up an interview with you for an upcoming piece. Please call me back at the following number...”
When I returned her call, she enthusiastically
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
replied, “Oh great! I’m so glad you got right back to me – my deadline is tomorrow!”
“So, what can I do for you?” I asked.
“Well, have you ever seen those little ‘quizzes’ that Cosmo runs every month?”
“Oh, right. My girlfriend used to take those things in college.” I replied.
“Exactly! Well, as the editor of t
“So, what can I do for you?” I asked.
“Well, have you ever seen those little ‘quizzes’ that Cosmo runs every month?”
“Oh, right. My girlfriend used to take those things in college.” I replied.
“Exactly! Well, as the editor of t
.
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
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
he section, it’s my job to seek out experts to help create those quizzes. And in our upcoming issue for January 2006, we’ll be running a quiz called ‘How Approachable Are You?’”
“Reeeeeely,” I said.
“Yes. And in my research for possible contributors, I went on Amazon to search for books about approachability. And
“Reeeeeely,” I said.
“Yes. And in my research for possible contributors, I went on Amazon to search for books about approachability. And
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
guess what? Your book was the first and only title that came up! So, we’d like for YOU to write the quiz. After all, you are the expert. Would you be interested?”
Um, are you kidding?! Me, write a quiz for one of the most widely read publications in the word?! I thought.
“Yes. Yes I would,” I said.
Word
Um, are you kidding?! Me, write a quiz for one of the most widely read publications in the word?! I thought.
“Yes. Yes I would,” I said.
Word
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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