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Just Other Articles - Great Marketing Makes Selling Unnecessary!
I was listening to my professor, internationally famous management guru, Peter F. Drucker, talk about entrepr
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
eneurship, when suddenly he made a stark statement:
“If your marketing is good enough, then selling becomes
“If your marketing is good enough, then selling becomes
; 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
nnecessary.”
He meant when you have devised the right product, at the right price, and it is promoted capabl
He meant when you have devised the right product, at the right price, and it is promoted capabl
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
, then the world WILL beat a path to your door. You don’t have to twist anybody’s arm to buy.
Willing buyers
Willing buyers
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
will see so much value in your proposition that they’ll giddily part with their money in trade for it.
I kno
I kno
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
, this seems like a fairy tale or a daydream, but I’ve actually experienced this frictionless situation, and
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 is, indeed something to behold.
When I started offering seminars around the country, I developed one progr
When I started offering seminars around the country, I developed one progr
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
am that showed companies how to substitute more effective communication for much more expensive, and less eff
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
cient business travel. Soaring gas prices afflicted the country, so it was fairly easy to say:
(1) You have
(1) You have
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
need;
(2) It’s important;
(3) I can address it; and
(4) No one else offers an equivalent solution.
For a
(2) It’s important;
(3) I can address it; and
(4) No one else offers an equivalent solution.
For a
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
proximately eighteen months, I stood alone, along with my seminar partners, in offering this solution, and th
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
t fact enabled me to do several things, not the least of which was to raise my prices several times, and prof
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
t nicely.
Then, as is the natural course of things, competitors sprang up, confusion in the market was creat
Then, as is the natural course of things, competitors sprang up, confusion in the market was creat
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
d by competing claims, product differentiation had to be made, and downward pressure on prices and profits oc
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
curred.
In short, selling had to get underway, and fast!
For one of the best current examples you need look
In short, selling had to get underway, and fast!
For one of the best current examples you need look
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
no further than Apple’s iPod series. At this moment, it has no viable competition, it is free to get its offe
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
ing price, discounting is rare, and generally, customer satisfaction is high.
This window, from which Apple
This window, from which Apple
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
an see perfectly blue skies, smooth sailing, and a stock valuation that surprisingly surpassed that of Dell,
.
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
on’t last long.
If Apple is really, really clever, it will create another marketing breakthrough--a must-hav
If Apple is really, really clever, it will create another marketing breakthrough--a must-hav
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
, peerless product.
If it falters, it will simply have to learn how to sell, along with most other companies
If it falters, it will simply have to learn how to sell, along with most other companies
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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