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Just Other Articles - Want to Know Where Your New Business is Coming From? Top Tips
Jay Conrad Levinson, author of the popular Guerrilla Marketing series, says that once a firm stops marketing it costs those firms three dollars for every dollar formerly spent to reach the same level of consumer recognition and s
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
hare of mind they previously enjoyed. Yet, many companies have scrubbed or reduced their marketing budgets to combat tough times.
But if you were a firm that stopped marketing, you can still be lucky. You can start up again and
But if you were a firm that stopped marketing, you can still be lucky. You can start up again and
; 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
row your revenues in a big way during recovery. It is startlingly simple. Here’s how.
For example, say you are an architectural services firm (although a similar technique of identifying client need will work for any services fi
For example, say you are an architectural services firm (although a similar technique of identifying client need will work for any services fi
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
m.) Your target client is a land developer in Florida. Let’s feel their pain, because we all know that moving away from pain can be a quick way to a sale. If you think like the developer, you will uncover the services they want.
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 traditional developer is involved in handling large tracts of never before developed land. That land no longer exists. With the recent building boom, there is a scarcity of undeveloped parcel, raw tract land that has all but e
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
iminated the traditional developer.
Developers who are still active in Florida are a different breed than those who previously simply bought and built on raw undeveloped land. Developers in the current market cobble together par
Developers who are still active in Florida are a different breed than those who previously simply bought and built on raw undeveloped land. Developers in the current market cobble together par
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
els, utilize infill, or adaptive reuse, and capture problem properties, that formerly would have caused them to walk away. Brownfields, industrial/urban or irregularly shaped parcels with narrow access and rigid setback requirem
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
ents are the norm.
The Developers that are still active have new problems.
1. Problems in obtaining any suitable land for building projects.
2. Problems in making the purchase numbers work on land that has to be scraped (
The Developers that are still active have new problems.
1. Problems in obtaining any suitable land for building projects.
2. Problems in making the purchase numbers work on land that has to be scraped (
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
uildings razed or adapted).
3. Problems in delivering Return on Investment. They must factor in the cost of purchasing land with buildings on it. Then pay for demolishing or modernizing. They must make the new buildings/uni
3. Problems in delivering Return on Investment. They must factor in the cost of purchasing land with buildings on it. Then pay for demolishing or modernizing. They must make the new buildings/uni
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
s affordable to the potential end market and still calculate a profit margin.
4. Problems obtaining zoning changes for density increases or usage changes.
5. Problems navigating through the approvals processes that are
4. Problems obtaining zoning changes for density increases or usage changes.
5. Problems navigating through the approvals processes that are
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
lengthy and now involve extensive community demands.
6. Problems getting through the process of approvals, the design and building process and getting product to market within highly un-flexible timetables. Banks want their
6. Problems getting through the process of approvals, the design and building process and getting product to market within highly un-flexible timetables. Banks want their
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
money. Stockholders want results.
What this means to you is that you are sitting on a gold mine of specialized service contracts.
1. Think of additional products and services that can establish new sources of profits. Base thes
What this means to you is that you are sitting on a gold mine of specialized service contracts.
1. Think of additional products and services that can establish new sources of profits. Base thes
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
services upon these needs of the new breed of developer.
2. Become the expert in these services. Publish and promote your expertise.
3. Break down larger services into smaller services that can be contracted for more o
2. Become the expert in these services. Publish and promote your expertise.
3. Break down larger services into smaller services that can be contracted for more o
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
ten.
4. Back the entire process up two or three steps. Instead of only offering the phases of actual design services such as schematics, design development, construction drawings, and construction administration, heavily ma
4. Back the entire process up two or three steps. Instead of only offering the phases of actual design services such as schematics, design development, construction drawings, and construction administration, heavily ma
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
rket “pre design” and construction services, such as budgeting, feasibility and master planning.
5. Demonstrate to your clients that you have the ability to get them through the approvals process. This means both sophisticat
5. Demonstrate to your clients that you have the ability to get them through the approvals process. This means both sophisticat
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
d and grass roots presentations to community officials, governing bodies, the press and the citizens in the communities.
6. Be willing to be the Community Liaison. Help the client identify with whom he needs to meet before t
6. Be willing to be the Community Liaison. Help the client identify with whom he needs to meet before t
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
e project goes for approvals. Get those approvals parties strongly on board through focus groups and other interactive and cooperative techniques. Show your expertise in this arena of cooperative need. Market these services with
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
ourly contracts or defined number of meetings/presentations, deliverables.
7. Form strategic alliances with other firms that add strength to your services and credentials. Make referrals constant and a two-way street.
7. Form strategic alliances with other firms that add strength to your services and credentials. Make referrals constant and a two-way street.
.
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
. Strive to define and refine the process until it is predictable, repeatable and profitable.
Define, refine, repeat. Make these services profitable and continuous.
Key words: marketing for an architectural service firm, busine
Define, refine, repeat. Make these services profitable and continuous.
Key words: marketing for an architectural service firm, busine
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
s development for architects, getting new business as an architect, land development, the needs of the developer, the approvals process in new building, design and construction services, McKerns Development, development in Florid
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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