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Just Other Articles - The Five Secrets of Marketing to Marketers
If you market a product or service, how do you want to be approached by another marketer? In a recent study, conducted by Three Deep Marketing, with assistance from Marketing Sherpa, more than 70 percent of the marketer
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
s told the researchers that they did not want to be approached by a telephone call or a face-to-face meeting. Of the respondents, 70.9 percent said “no” to phone calls, 63 percent didn’t want group presentations; and 57
; 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
ercent didn’t want a face-to-face meeting.
Today, links to a web site and email presentations are favored by most marketers. Specifically, 87.4 percent liked web sites and also approved email solicitations (pitches). Ev
Today, links to a web site and email presentations are favored by most marketers. Specifically, 87.4 percent liked web sites and also approved email solicitations (pitches). Ev
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
en 74 percent liked a web-based demonstration from their computers. Each of these numbers is greater than those who preferred the “pre-Internet” way of communicating a sales pitch.
Why is any of this important to you? I
Why is any of this important to you? I
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
’s important to know what other marketers are up against these days. First and foremost, they are anxious to be able to demonstrate a positive return on their investment in marketing dollars. There is tremendous pressure
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
from the top to clearly show that marketing is paying its way. This is one of the most difficult and elusive measurements possible. What acceptable method can you use to prove that you are earning a proper “return” on yo
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
ur dollars? And what, pray tell, constitutes a “return?Next comes the need for generating some flow of leads. The tactic must produce an ongoing “flow” of leads to be considered successful. The next most anxious thing 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
their list should really be at the top of it. They have it a bit mixed up, but this is due to the pressure from the boss, many of whom are bean counters and really don’t understand the art and science of marketing. They
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
are only about numbers, so the marketer feels the pressure to perform, and hence today’s marketer’s biggest worry is the one connected with longevity at this employer.
At the top of the list should be “how to differenti
At the top of the list should be “how to differenti
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
ate oneself”. This is next on the list the researchers discovered. You need to know how to successfully differentiate yourself, hopefully in a preemptive manner. Next, you must incorporate that into your master marketing
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
strategy and logical tactics required to accomplish that strategy. If you do so, your marketing dollars will sprout great returns and your leads will flow like good wine. (Refer to my recent article, Flying Blind: Wi
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
hout The 2 Secrets of the USP).
However, “differentiating their company from their competitors”; only comes in third in importance to the marketers in this study. Fourth on the list is the need to deliver the marke
However, “differentiating their company from their competitors”; only comes in third in importance to the marketers in this study. Fourth on the list is the need to deliver the marke
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
ting communications in a clear, consistent manner at all times. Last on their list of concerns is the need to qualify the lead status before handing leads off to the sales force.
Take a close look at these “concerns” he
Take a close look at these “concerns” he
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
d by this particular group of marketers surveyed. Four out of the five concerns are “tactics” or “measurement tools” while only one is strategic in nature; then it is placed in third order of importance to them.
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
This is the reality of what you have to face out there these days. Strategy should always come first, tactics to accomplish the strategy, second.In order to get the positive attention of another marketer, and th
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
en close him/her on your products or services, you must know “how” they want to hear your message (and this implicitly includes the “when” they want to hear it too). Moreover, you need to clearly understand other markete
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
s’ concerns; anxieties and needs in terms of what your product or service can do for them. If it can’t help them with one of these five problem areas, you are going to be hard put to get their attention, let alone close
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
hem on what you offer.
Re-think the benefits of your product/service and re-frame them in the context of these five key areas of need as perceived by other marketers. Then indicate that if the prospect is truly differen
Re-think the benefits of your product/service and re-frame them in the context of these five key areas of need as perceived by other marketers. Then indicate that if the prospect is truly differen
.
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
tiated, it and they will attract more positive attention from potential buyers, generating higher sales, which in turn will increase the return on the marketing investment. This will always result in more consistent lead
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
and hence more closed and profitable sales. This should get her attention. But don’t call him on the phone or ask for some face time. Send an interesting, well crafted email instead.
©Copyright, Roy W. MacNaughton, 200
©Copyright, Roy W. MacNaughton, 200
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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