Just Other Articles

So you’ve tried direct mail, advertising, you’ve got a web site, maybe you’ve even tried networking as a marketing strategy. These and many other marketing strategies are all good and if 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

erformed properly will most likely bring you favorable results. A word to the wise here though, some of them can run you a fortune in marketing costs. And in my experience, cost has a lot

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

less bearing on effectiveness than one would like to believe. Now being a fan of Jay Conrad Levinson and his concept of “Guerrilla Marketing”, I am always on the lookout for innovative and

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

inexpensive ways to market. And what I have for you here certainly fits that bill.

I believe Napoleon Hill in his 1930’s classic book “Think and Grow Rich” was the first person to coin th

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

phrase “Master Mind” and he defined it as: “Coordination of knowledge and effort, in a spirit of harmony, between two or more people, for the attainment of a definite purpose.”

Hmmm… So b

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

sically it’s building a team that leverages their collective brains and brawn to help one another get what they want.

So let’s not beat around the bush here. Are you ready for the secret

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

arketing strategy? Well here goes… It’s quite simple really… there is strength in numbers. Two minds are exponentially more capable than one mind alone. In this equation, one plus one 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

s not equal two, it more closely resembles eleven. We’re talking about leverage here. The secret is simply to gain leverage by creating your own mastermind. Not just any mastermind thoug

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

; One that specifically focuses on marketing – a “Marketing Mastermind” so to speak.

So my proposal to you is to take that exact concept of a mastermind as Napoleon Hill defined it, and ni

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

he it to focus primarily on marketing.

So real quick what should this mastermind look like? My suggestion would be 4 to 8 members from different, non-competing industries, meeting weekly

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

o discuss how they can help each other market their respective businesses – Plain and simple.

Now it’s not my intention here to educate you in any detail on how to set up and effectively p

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

articipate in a mastermind group, as there are plenty of resources out there already that can do that for you, it is simply to share with you what’s possible by leveraging this concept to s

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

pport your marketing efforts.

Personally, I see this strategy as a phenomenal way for organizations, especially smaller ones with little spending money for marketing, to use the power of l

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

verage to broaden their capability and effectiveness.

While the benefits of doing this could be endless, let me just share with you five of my favorites:
1. Plain and simple, it keeps

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

you in the conversation of marketing. 2. It can provide you with unbiased feedback, brainstorming, and marketing advice based on experiences of what has worked, or hasn’t worked for your m

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

stermind teammates.
3. You will significantly expand your reach and go beyond who you know and tap into who your teammates know. Now depending on what the group agrees to, you may gai

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

access to the client list and/or mailing list of the other members. Additionally, you can explore the possibilities of joint marketing initiatives and joint venture arrangements where mul

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

iple parties share in the results.
4. You’ll be held accountable to get done what you say you will get done. This alone inspires people into action and action ultimately leads to resu

.

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

ts.
5. The list can go on and on and on however, best of all, masterminding is free!

So need I say more? I sincerely hope you’ll take this strategy on and try it on for a while. Wha

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.justotherarticles.org.ua/article/27715/justotherarticles-Secret-Yet-Powerful-Marketing-Weapon-Revealed.html">Secret, Yet Powerful Marketing Weapon Revealed</a>

BB link (for phorums):
[url=http://www.justotherarticles.org.ua/article/27715/justotherarticles-Secret-Yet-Powerful-Marketing-Weapon-Revealed.html]Secret, Yet Powerful Marketing Weapon Revealed[/url]

Can talk radio advertising work for you? Radio talk shows are targeted specifically towards an audience that share an interest for a particular topic and advertising on talk radio stations could, quite possibly, be better targeted than a music radio station would be.

Serious about your project? Need some investment help? Why not find a consultant who can guide you to new areas of investors? Think “Far East.”

Having wheelchair to get around is not enough no matter how adaptive structures are designed to accommodate disabled people. To extend more on giving comfort, wheelchair lift for car will make the whole idea complete.

Tags

Links

Just Other Articles - Secret, Yet Powerful Marketing Weapon Revealed

Related Articles: