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Just Other Articles - Advantages & Disadvantages Of Guerilla Marketing
We’ll start with the good stuff: • Guerilla marketing is cheap. At the high end, you may end up investing a 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 few hundred dollars in
promotional items or a major, centralized piece that
you can build a number of different campai ; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug. Examples of combination products may in ns around.
At the low end, it’s free -- and you can’t beat free! • In addition to growing your busin lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together. ess, guerilla
marketing involves networking, both with your
customers and with other businesses. In the process of
exe here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe uting and maintaining your campaign, you will make
a lot of new friends and allies. • Guerilla marketing is speci d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations. Combination pro fically tailored to meet
the needs of small businesses, whereas traditional
advertising venues are complicated and expe 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 sive to
the point of exclusion (bordering on snobbishness). • Many aspects of creative guerilla marketing campai 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 gns are just plain fun! You get to perform wacky
stunts and engage in unusual activities, all in the
name of working fo nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically a living. • Guerilla marketing works. If you do your research, plan your campaign, and stick with it, you will m 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 ore
than likely end up with a better and more profitable
business. And now, the bad: • Guerilla marketing works ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi -- but it is not completely
failsafe. It is, after all, advertising; which is far
from an exact science. The number of ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it. Following aspects would a ariables
involved in advertising guarantees that nothing is 100
percent effective. • As with any advertising cam dd to the challenges in developing combination products: Which markets to tap where the combination products can do fairly well? Which combination prod paign, you will not be
able to pinpoint exactly what works and what doesn’t.
Obtaining measurable results is diff cts are meaningful and rational? Which therapeutic categories to select? Which Combinations can address unmet needs of the patients? Do combin cult (but not
impossible, unlike other marketing techniques). • Guerilla marketing requires a greater level of d tions increase the patient compliance? What would be the developing cost? How to tackle the risks encountered during combination product developmen edication and energy than traditional advertising
venues, which often consist of throwing large amounts
of money at oth 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 r people to do the work for you. • If you’re looking for a quick fix, guerilla marketing is not your soluti ping new procedures for reviewing their safety, efficacy and quality. Professional from academic institutions, pharmaceutical industries, health care indust on. You will not see
instant or overnight results stemming from your
efforts. An investment of time is required in orde y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products to
achieve your business sales goals. • Guerilla marketing is not for the thin-skinned or faint of heart. At th . 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 e very least, you will have a few
detractors who find fault in your methods. At worst,
you may be threatened with legal elopment. They need to be wiser in analyzing the market trends and the regulatory requirements. Companies that provide selfless information through particip action (which is why
it’s so important to check your local laws before
engaging in a guerilla marketing campaign) 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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