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Just Other Articles - Caution: USPs Can Cause Advertising Failure
Why do advertisements fail? The answer’s not what you might think. The most common cause of failure in both advertisement and marketing campaigns is that the company’s USP is either weak or non-existent.
What is a USP?
USP stands for a company’s Unique Selling Proposition. Th
What is a USP?
USP stands for a company’s Unique Selling Proposition. Th
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
at is, an aspect of a company or product that sets it apart from the competition. It’s what makes customers want to buy your product or service over your competitor’s.
There are three things that a USP must be in order to accomplish this.
1.Descriptive. A strong USP will be d
There are three things that a USP must be in order to accomplish this.
1.Descriptive. A strong USP will be d
; 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
escriptive. It will tell the customer exactly what your product or company does differently or better than the competition.
2.Clear. A strong USP will leave no fog in a customer’s mind regarding exactly
2.Clear. A strong USP will leave no fog in a customer’s mind regarding exactly
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
how he will benefit from using your product or service.
3.Short. A strong USP will be short and to the point. There’s no need, or rather, no room for a long, drawn out explanation in the USP. This is the place to be brief.
Now that you know what a USP must be in order to
3.Short. A strong USP will be short and to the point. There’s no need, or rather, no room for a long, drawn out explanation in the USP. This is the place to be brief.
Now that you know what a USP must be in order to
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
be strong, let’s take a look at how to come up with one that will turn those failing advertisements and marketing campaigns into successful, money generating profit machines. You see, once you have a strong USP in place you can build all of your advertising and marketing, in fa
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
t everything about your company, around that USP.
How is a strong USP created?
Formulating your company’s USP isn’t, nor should it be, a quick, simple thing. It will take a lot of thought and research. But it will be well worth it, I guarantee it. To simplify it slightly, I h
How is a strong USP created?
Formulating your company’s USP isn’t, nor should it be, a quick, simple thing. It will take a lot of thought and research. But it will be well worth it, I guarantee it. To simplify it slightly, I h
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
ave broken it down into a three step process.
Step 1: Features and Benefits
Take a piece of paper and divide it down the middle. In the left hand column list all the product’s features. In the right hand column list the benefits of each feature.
“Aren’t they the same thing?
Step 1: Features and Benefits
Take a piece of paper and divide it down the middle. In the left hand column list all the product’s features. In the right hand column list the benefits of each feature.
“Aren’t they the same thing?
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
” you may ask. The answer is no, they aren’t. A feature is something a product has (such as a lifetime warranty or a special adaptation) or something a company does (such as tax preparation). A benefit, on the other hand, is how that feature is important to your customer. How d
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
oes it improve your customer’s life? Does it make things simpler? More enjoyable? Give her more time? You get the picture.
Step 2: Identify the USP of your competition
In this step you’re going to do a bit of research on your competition. You need to find out what the USP is
Step 2: Identify the USP of your competition
In this step you’re going to do a bit of research on your competition. You need to find out what the USP is
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
for each of your competitors. Next, you’ll want to find out all you can about what features and benefits your competitor’s products offer.
By doing these things you will be able to compare your product with your competitor’s and find out what sets you apart. You can’t build a
By doing these things you will be able to compare your product with your competitor’s and find out what sets you apart. You can’t build a
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
SP on something that is not unique to your product or company.
But what if your product is so common that there really isn’t a difference strong enough to base your company’s USP on? This is where it can get tricky. But there is hope. If you can’t find a benefit in your produc
But what if your product is so common that there really isn’t a difference strong enough to base your company’s USP on? This is where it can get tricky. But there is hope. If you can’t find a benefit in your produc
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 that you can use for a strong USP then you may have to get creative. Check out the USP of M&Ms candy: “M&Ms melt in your mouth, not in your hand.” How many other candies can you think of that could claim this same benefit? At least a few, right? But none of the competition wa
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
s using this benefit as their USP, so it worked. And worked very well. Now that’s being creative.
Dig deep and you just may be able to find such a gold nugget in your own product or service. When you do, use it to its fullest advantage in all your advertising, marketing and ot
Dig deep and you just may be able to find such a gold nugget in your own product or service. When you do, use it to its fullest advantage in all your advertising, marketing and ot
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
her publicity.
Another angle to try if you’re stuck for a unique product benefit is to look at the company offering the product. In what ways does the company itself differ from the competition? Do you offer outstanding customer service? Do you make a guarantee that your compe
Another angle to try if you’re stuck for a unique product benefit is to look at the company offering the product. In what ways does the company itself differ from the competition? Do you offer outstanding customer service? Do you make a guarantee that your compe
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
titors do not? Do you provide an actual human when a customer calls rather than an automated run-around? In short, what makes your company unique? This can be the basis for a very strong USP.
Take State Farm Insurance’s: “Like a good neighbor, State Farm is there.” This is a p
Take State Farm Insurance’s: “Like a good neighbor, State Farm is there.” This is a p
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
rfect example of basing a USP around the company rather than the product.
Step 3: Contact customers and clients
This can be one of the most informative ways of building your USP. Past and current customers or clients will tend to tell you exactly what they did or did not like
Step 3: Contact customers and clients
This can be one of the most informative ways of building your USP. Past and current customers or clients will tend to tell you exactly what they did or did not like
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
about your product or service. But be careful. Make certain they are sharing ways their lives were benefited by the product rather than simply what features they liked. You may have to ask specific questions and dig a little deeper in order to extract the information you need,
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
but when you do you’ll know you have a gold nugget.
Contacting customers and clients can be helpful in other ways as well. By keeping customer interview transcripts or questionnaires on file your copywriter can glean them for testimonials or for implying a market preference.
Contacting customers and clients can be helpful in other ways as well. By keeping customer interview transcripts or questionnaires on file your copywriter can glean them for testimonials or for implying a market preference.
.
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
This is done quite often. Take Jiff Peanut Butter for example: “Choosey moms choose Jiff.” This is an implied preference.
These three steps will help you on your way to identifying a strong USP for you company or product. Remember, however, that a USP must be important enough
These three steps will help you on your way to identifying a strong USP for you company or product. Remember, however, that a USP must be important enough
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
to a customer to make him want to buy your product or service over your competitor’s. So, know your customer as well as you do your product and company and you will soon have a USP strong enough to turn those failing advertisements and marketing campaigns into sure-fire winners
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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