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Just Other Articles - Small Business Marketing Lesson From Free Hugs Video
Free Hugs Have you been sent an email with a link to watch the "Free Hugs" video on You Tube yet? If you have, 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 you're in good company. Word about this You Tube video has spread worldwide to millions of people who want to s ; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug. Examples of combination products may in are its heart-warming message. If you haven't seen it yet, you can check it out on www.youtube.com The story? lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together. Juan Mann returned from overseas to his home in Australia and thought everyone seemed just a bit miserable. So h here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe decided to do something to cheer everyone up. He started a one-man campaign called "Free Hugs" and as you see d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations. Combination pro n the video, slowly spread his message worldwide, had others quickly joining his crusade, and single-handedly br 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 ought a little more love into our troubled world, in spite of the fact his local government tried to shut him do 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 n! How does this apply to small business marketing? When people see, hear or do something that evokes a strong nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically reaction,
they want to tell others. They want to "jump on the bandwagon" and spread the word. In marketing, we 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 call this "Viral Marketing" Big brand name advertisers are already creating undercover marketing campaigns unde ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi the guise of viral marketing in the hopes of creating raving fans who will spread the word about their products ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it. Following aspects would a and services. Think about it. When a good friend tells you, "You've got to see this" or "You've got to try th dd to the challenges in developing combination products: Which markets to tap where the combination products can do fairly well? Which combination prod s," what's your reaction? Usually you make a point to see or try whatever they've recommended, right? Because y cts are meaningful and rational? Which therapeutic categories to select? Which Combinations can address unmet needs of the patients? Do combin u trust them. How can you put viral marketing to work for your small business? Look at your business and your tions increase the patient compliance? What would be the developing cost? How to tackle the risks encountered during combination product developmen lients and ask yourself these questions: 1) Are you over-delivering and creating raving fans? 2) Are you givin 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 your clients and prospects something to talk about? 3) Are you giving them reasons to share you with others? ping new procedures for reviewing their safety, efficacy and quality. Professional from academic institutions, pharmaceutical industries, health care indust 4) And, if you're not, how can you? Additionally, pay attention to your own behavior. What kinds of things do y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products ou pass along to other? What products or services do you recommend? And why? Then think about how you might be . 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 able to use this knowledge to get people talking and to build a viral marketing aspect into your marketing plan. elopment. They need to be wiser in analyzing the market trends and the regulatory requirements. Companies that provide selfless information through particip After all, if you can get others to spread the word, it's not only more effective, it doesn't cost you anything 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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