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You are here: Home > Business > Business > Ensuring Business Success: 4th Quarter Publicity = 1st Quarter Prosperity |
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Just Other Articles - Ensuring Business Success: 4th Quarter Publicity = 1st Quarter Prosperity
As the year 2006 starts to wind down, many businesses and entrepreneurs are making plans and budgets for the year 2007. Those plans could include anything from setting up goals for new p 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 roducts to preparing marketing, sales and PR/publicity campaigns. When it comes to your publicity plan, WHEN you launch your campaign can be just as important to what and how you launch. ; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug. Examples of combination products may in HOLIDAY PUBLICITY OPPORTUNITIES: If your product/business lends itself to increased holiday sales, the next few weeks are a perfect time to get a publicity campaign launched – given th lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together. right media targets. Many holiday issues are already been laid out for magazines, and many other media outlets are feverishly seeking information/pitches on innovative stories for the 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 lidays. Some media outlets even reorganize or beef up staff around the holidays to allow for an increase in stories on products. Have your publicist help you take advantage of this incre d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations. Combination pro sed media opportunity. PLANTING PUBLICITY SEEDS NOW FOR 1ST QUARTER RESULTS: Some business owners may be of the mindset: “I think we’ll wait to launch a publicity campaign until after 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 anuary 1st.” The problem is -- if you wait to launch your publicity campaign until the first of the year hoping for a quick media interest blast in January, you may be in for a quiet mon 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 h. Keep in mind most media outlets have editorial lead-times of a few weeks to 6 months. Also what some entrepreneurs don’t realize is this. Because of the increasing number of publicity nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically pitches media outlets receive, anything you send out is subjected to what I call the “media digestion period” – simply put – that is a period of time (sometimes weeks, sometimes months) 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 hat it takes media outlets to: #1) see/understand your release and decide if they are interested; #2) find space/time in their editorial calendar to place the article/news story/show s ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi gment. The potential placement is also directly dependent upon how quickly and efficiently your publicist or PR agency can help the media secure the placement. Media relations is crucia ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it. Following aspects would a . Your publicist’s job is to make the reporter/editor/producer’s job as easy and as effortless as possible - which will lead to quicker and more numerous placements for your business. W dd to the challenges in developing combination products: Which markets to tap where the combination products can do fairly well? Which combination prod en it comes to publicity pitches, the facts are: placement is totally up to the discretion of the particular media outlet; and very few media responses are immediate. I have in fact had cts are meaningful and rational? Which therapeutic categories to select? Which Combinations can address unmet needs of the patients? Do combin edia outlets respond even before the media release seemed to settle in the fax machine tray. Conversely, I also had one media outlet that responded 17 months after a pitch. (I had to ask tions increase the patient compliance? What would be the developing cost? How to tackle the risks encountered during combination product developmen the reporter what the YEAR was on the release!) NO placement is guaranteed, but you can definitely increase the odds. Even if your product/business if a dead-on perfect match for a media 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 outlet’s editorial profile, you are not guaranteed placement without some hard work and media relations. That’s why timing of your publicity pitch is so critical. Have your publicist get ping new procedures for reviewing their safety, efficacy and quality. Professional from academic institutions, pharmaceutical industries, health care indust your pitch to the media, allow the editorial staff to digest it a bit, and strategically and professionally “rattle the cage” over the next several weeks to generate as many placements a y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products possible. What we are trying to do is plant seeds in media outlets’ editorial garden so they will bear fruit -- in the form of articles/show placements -- continuously over the next se . 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 eral weeks and months. Like the plant that comes from a seed, publicity placements can also grow roots and lead to other arterial media placements in other media outlets. Given the right elopment. They need to be wiser in analyzing the market trends and the regulatory requirements. Companies that provide selfless information through particip tending, the publicity seeds you plant over the next few weeks/months will indeed germinate and you’ll reap a wonderful harvest for your business well past the first quarter of next year 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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