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Just Other Articles - Is the Role of Marketing Changing
Have you tried any prospecting lately, or talked to any potential customers for your products or services? If any of these people do have the problems your produc 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 ts or services solve, have you noticed that they may already know quite a bit about the types of features your solution does offer. Many savvy B2B purchasers are ; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug. Examples of combination products may in now able to begin the buying cycle without you. It used to be that when a prospect was in the hunt for a solution to a problem he would call his local sales rep, lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together. nd have him come over for a chat. In fact, he would probably call three or four different companies and have each of them send over a representative. As business here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe and sales people, we salivated over this, because this was what we called “low hanging fruit, ripe for the picking”. – We always thought, “I have the information, d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations. Combination pro and they need me to find out about the types of solutions I could offer them to solve their problems.” The Internet has changed all of that. Now your prospects c 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 n go online and learn almost anything they want to know about all of your products and services, as well as the products and services your competitors offer. This 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 takes away the advantage you may have had before. So what can you do to take back that advantage? There are a number of things that can help you. That is why ma nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically keting has become so important now more than ever, and will become even more important in the future. You need to have different marketing campaigns that will gra 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 your prospects and want them to come to you first. Here are five marketing ideas you can pursue to keep your company name constantly in front of your prospects ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi nd customers. 1. Offer them something to prove you understand their business problems. Offer them a free report, a white paper, a webinar; have them sign up for ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it. Following aspects would a our newsletter, etc. Show them you understand their business, and that you can help them. 2. Increase the frequency of your communication with your customers and dd to the challenges in developing combination products: Which markets to tap where the combination products can do fairly well? Which combination prod prospects. You should be sending them something of value at least every two weeks. If you aren’t doing this, you can bet at least one of your competitors is doing cts are meaningful and rational? Which therapeutic categories to select? Which Combinations can address unmet needs of the patients? Do combin it. 3. You should have at least five marketing approaches you are using. These can include any of the following. Direct mail Shows & tions increase the patient compliance? What would be the developing cost? How to tackle the risks encountered during combination product developmen Exhibitions Conference calls Webinars Telephone marketing Email capture Public Relations 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 Press releases Referrals Focused advertising And there are many, many more ways to keep in touch 4. Ask more ping new procedures for reviewing their safety, efficacy and quality. Professional from academic institutions, pharmaceutical industries, health care indust uestions every time you get a chance. Try and understand your prospect and customer from every angle. Get a 360 degree look at your customer. Then send them an em y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products il thanking them and confirming everything you talked about. 5. Get a third party to interview your present and past customers. These types of interviews yield v . 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 ry positive results for two good reasons. First, your customers are impressed that you would pay someone money to interview them. Secondly, your customer will be elopment. They need to be wiser in analyzing the market trends and the regulatory requirements. Companies that provide selfless information through particip ore frank and objective with a third party and you will learn more this way. Always remember to help your customers. Don’t pester them and you will be successful 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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