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Just Other Articles - Boost Your Emotional Marketing Potential
Why do people buy your product? If you stack up enough benefits to outweigh the costs of purchasing it, do you automatically close the deal? It doesn't always happen, does it? Consumers are not calculating machines. They are soft, warm,
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
breathing humans with emotions that assign meaning and personal significance to your products.
How do potential customers evaluate your products (or services)? How do they trade off various factors before deciding? How are their emotio
How do potential customers evaluate your products (or services)? How do they trade off various factors before deciding? How are their emotio
; 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
ns involved in the process? Consumers--whether they realize it or not--use up to six categories of emotional criteria when they decide to purchase your product.
Technical criteria
Technical criteria relate to what your
Technical criteria
Technical criteria relate to what your
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
product does. Every product performs a function. It may also perform additional functions or have features that make it easier to operate or use. If your type of product has been around for a while, everyone assumes it will perform its
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
basic function. Marketing battles are fought on the ground of extra features and ease of use.
Does your product perform its core function better, faster, or more smoothly than your competitors' products? Have you enriched your product w
Does your product perform its core function better, faster, or more smoothly than your competitors' products? Have you enriched your product w
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
ith additional features? Is your product easier to buy and simpler to operate?
Economic/sacrifice criteria
Economic/sacrifice criteria relate to price. Consumers live in an approach/avoidance world. Your product's bene
Economic/sacrifice criteria
Economic/sacrifice criteria relate to price. Consumers live in an approach/avoidance world. Your product's bene
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
fits are in a tug of war with its price and the effort it takes to purchase it. For most consumers, the psychological cost of paying for your product reduces their enjoyment of it. Several emotionally significant factors influence the ma
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
ximum price you can charge for your product.
How closely does your product relate to the buyer's needs? How unique is your product? Do you charge a "fair" price? Is paying the asking price socially acceptable for your customers?
How closely does your product relate to the buyer's needs? How unique is your product? Do you charge a "fair" price? Is paying the asking price socially acceptable for your customers?
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
g>Legalistic criteria
Consumers are also guided by what others demand or want. Some potential buyers must obey legal requirements and this loss of control may be frustrating. Consumers also feel obliged to consider the needs an
Consumers are also guided by what others demand or want. Some potential buyers must obey legal requirements and this loss of control may be frustrating. Consumers also feel obliged to consider the needs an
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
d desires of others, like their spouse or children.
Does your product help your customer comply with any legal requirements? Can your product be made more appealing to your customer's children or spouse?
Integrative criteria
Does your product help your customer comply with any legal requirements? Can your product be made more appealing to your customer's children or spouse?
Integrative criteria
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
trong>
How does your product or service fit with your potential customer's social group or personal identity? Consumers belong to social groups. They face potential embarrassment if they don't conform. So they constantly try to strike a
How does your product or service fit with your potential customer's social group or personal identity? Consumers belong to social groups. They face potential embarrassment if they don't conform. So they constantly try to strike a
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
balance between group membership versus visibility and self-esteem. Any product or service that increases their self-esteem is emotionally satisfying.
Does your product help your customer express their identity? Can your product be des
Does your product help your customer express their identity? Can your product be des
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
cribed as "upscale" or "exclusive"?
Adaptive criteria
Consumers want to minimize any risk that they will regret their purchase later. The easiest solution is to avoid responsibility completely and trust the advice of o
Adaptive criteria
Consumers want to minimize any risk that they will regret their purchase later. The easiest solution is to avoid responsibility completely and trust the advice of o
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
thers, preferably an expert. Consumers also lower their risk of future regret by imitating the buying habits of others that they assume are "in the know," by looking for guarantees, or by basing their decision on your reputation.
Are yo
Are yo
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
u able to offer endorsements from recognized experts? Do you have testimonials from satisfied customers? Do you offer a strong guarantee? Is it possible to offer a free trial or sample?
Intrinsic criteria
Intrinsic cr
Intrinsic criteria
Intrinsic cr
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
iteria relate to your product's basic nature--how much the consumer "likes" your product. Appeal to your customer's senses. How does your product look, feel, taste, smell or sound?
Curiosity is another intrinsic criterion. Consumers are
Curiosity is another intrinsic criterion. Consumers are
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
always looking for something new and different. Familiar products are reassuring, but they are also boring. The trick is to not go too far. Every consumer has an optimal level of novelty and complexity that maximizes their curiosity and
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
their desire to satisfy it. If you push beyond the optimal point, they will return to the familiar.
Is your product "refreshing" or "alluring"? How about "enchanting" or "elegant"?
If you focus only on rational behavior, then you choo
Is your product "refreshing" or "alluring"? How about "enchanting" or "elegant"?
If you focus only on rational behavior, then you choo
.
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
se to ignore enormously powerful emotional forces that ultimately make your customer's final decision. The rational argument should already be won by your product's high quality design. Creative innovation, savvy pricing, and persuasive
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
presentation will win your customer's emotions.
*The six categories of emotional criteria were developed by John O'Shaughnessy, and Nicholas Jackson O'Shaughnessy, The Marketing Power of Emotion (New York: Oxford University Press, 2003)
*The six categories of emotional criteria were developed by John O'Shaughnessy, and Nicholas Jackson O'Shaughnessy, The Marketing Power of Emotion (New York: Oxford University Press, 2003)
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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