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Just Other Articles - The Most Important Business Aspect - Marketing
In your community, I'll bet you can name a company (or perhaps several, if you live in a large geographic area) that has been around many years but cuts many corners in the book of business.
Perhaps they charge extra for prespraying, they leave carpet (or walls, if a restoration company) wet, and the list goes on. B
Perhaps they charge extra for prespraying, they leave carpet (or walls, if a restoration company) wet, and the list goes on. B
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
ut somehow these bad apples never seem to go out of business and you can bet the owner of this type of company is making a decent living and oftentimes making a killing.
There's a company in my service location that fits this description. This owner's house is large and immaculate and he drives an expensive sports c
There's a company in my service location that fits this description. This owner's house is large and immaculate and he drives an expensive sports c
; 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
ar. Unfortunately he's not a scrupulous business owner. He hires bargain-basement subs who drive their own cars to the jobsite, with their own portable in the trunk and have to purchase overpriced chemicals from this owner as a condition of their employment. If the sub doesn't have enough money he simply fills his pr
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
econditioner jug with water and dish soap or laundry detergent. If he runs out of real protector he uses water.
Their "technicians" have never had more than a couple of hours of On-the-Job Training and do a very poor job of cleaning. They advertise low prices and the technicians push the customer hard to try to make
Their "technicians" have never had more than a couple of hours of On-the-Job Training and do a very poor job of cleaning. They advertise low prices and the technicians push the customer hard to try to make
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
a $12.95/room job into a $40+/room sale. Not a month goes by that we don't hear a horror story about this business.
This owner is the epitome of everything that should be unsuccessful in business, but he thrives not because he's a good businessman but because he's a GREAT marketer.
He doesn't care if he develops a
This owner is the epitome of everything that should be unsuccessful in business, but he thrives not because he's a good businessman but because he's a GREAT marketer.
He doesn't care if he develops a
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
bad name amongst other cleaners because they aren't his customer. He could care less if he ticks off customers because his sole purpose in business is not to create cheerleaders that will buy over and over again from him and refer their friends and family but to get as many new customers as possible. He's a master a
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
t creating an image that his company is the best; yet he's not anywhere near even good. His customers often complain about the work his company performs and his only saving grace is that he is a fantastic marketer.
Now don't go telling your friends "..that Rendall guy says it's ok to do crappy work because all I hav
Now don't go telling your friends "..that Rendall guy says it's ok to do crappy work because all I hav
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
to do is market a lot". That's not at all what I'm saying is the right thing to do. What I am saying is just imagine how successful this guy would be if he ran his business the right way and excelled at not only his marketing but also how he conducts business.
The one thing we should all learn from this example is
The one thing we should all learn from this example is
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
that great marketing forgives a lot of business sins. Let's analyze how we can become better marketers in our own business without sacrificing the quality that our customers have come to expect.
5 Profitable Sales Pointers
#1) Know Your Market - By knowing your market you'll know exactly where to spend your
5 Profitable Sales Pointers
#1) Know Your Market - By knowing your market you'll know exactly where to spend your
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
advertising dollars. If you define too broad of a market you'll end up wasting money. Have a laser focus on the type of customer you are seeking first and foremost. If you don't know how to define your target market, conduct a survey of the type of clients you are seeking to attract. Ask questions like "What did you
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
like about us?", "What didn't you like about us?" "What made you choose us over the competition?" "How often do you usually get your carpeting cleaned?" These questions will be invaluable to helping you determine many trends amongst your typical prospect and customer.
#2) Know What They're Looking For and Deliver It
#2) Know What They're Looking For and Deliver It
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
- By knowing what your prospective customer is looking for you can further define that target market. For instance, if you know that the type of customers you're looking for usually look for best quality over best price, you should certainly portray this image in your marketing. If, on the other hand, you're a price
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
- oriented company, portraying the image that you offer good quality (probably not great) at a lower price will be your Marketing Proposition. One simple way to summarize this point is to ask yourself the question - What benefits are my customers looking for and how can I fulfill them?
#3) Know Your Costs and Budget
#3) Know Your Costs and Budget
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
- Before spending a dime on marketing, you should have a good idea of what you can afford and not break the budget delivering your marketing message.
#4) Use Unique Marketing Approaches - In today's business climate, it's difficult to get your message across to prospects and clients. They're already inundated with
#4) Use Unique Marketing Approaches - In today's business climate, it's difficult to get your message across to prospects and clients. They're already inundated with
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
plethora of marketing messages every day. Several studies have shown that the typical consumer is plastered with over 1,000 marketing impressions a day; from billboards to newspaper ads to email, TV, mail, radio, etc. Think of unique ways you can get your message to your prospects and customers. I LOVE postcards. 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
ey don't require that the prospect or customer open them and I know if I'm creative enough with graphics and text the prospect or customer will at least read it. Another useful and often underused tool is the simple telephone. With privacy laws in effect one has to be careful and know the rules. Generally speaking it
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 ok to contact businesses and past customers, though.
#5) Test, Tweak, and Try Again - Marketing is a never-ending necessity of business. If you're not keeping track of who's calling and how they heard about you, now is the time to start. Smart marketers know exactly what works, what doesn't, and when to scrap it
#5) Test, Tweak, and Try Again - Marketing is a never-ending necessity of business. If you're not keeping track of who's calling and how they heard about you, now is the time to start. Smart marketers know exactly what works, what doesn't, and when to scrap it
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
and try again. The only way to determine this is by testing. I once sent out a direct mail piece to 200 commercial prospects. I tracked the disappointing results (one call out of 200 sent) and thought about scrapping the idea completely. Then I decided to try another mailing to the same 200 potential commercial prosp
.
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
ects several months later but this time I added a 2nd page of text and talked more about the benefits of getting and keeping their carpet cleaned. That letter generated 4 bookings which returned well over $3,000 in sales, not including referrals and back-end sales to the owners, managers, and employees. Yes it took m
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
ore work but I found a winner sales letter simply by expounding on more benefits.
To wrap up this edition, Superstar marketers make the phone ring. On the other hand Superstar business owners make the phone ring and make their customers happy. I don't know about you but I much prefer to belong to the latter category
To wrap up this edition, Superstar marketers make the phone ring. On the other hand Superstar business owners make the phone ring and make their customers happy. I don't know about you but I much prefer to belong to the latter category
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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