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Other Articles - Why The Best Marketing Tactics May Have Failed You Up Until Now….
Ever wonder why some marketing tactics work for some businesses but not others? Maybe you heard about a business that paints their company website’s URL on the top of their delivery trucks and increased sales by 25%, yet when you try the same tactic, sales remained flat.
The reason most marketing tactics fail is that they are not part of a comprehensiv
The reason most marketing tactics fail is that they are not part of a comprehensiv
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
e marketing strategy. A comprehensive marketing strategy helps you to choose which tactics will work for your business and keep the sales coming in like clockwork no matter what the economy.
Defining Marketing Strategy
After 20 years of working with businesses on creating advertising messages that deliver results, I've come up with a few word pic
Defining Marketing Strategy
After 20 years of working with businesses on creating advertising messages that deliver results, I've come up with a few word pic
; 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
ures to try to help clients better understand why we do the things we do in advertising and marketing. To help clients get a handle on marketing strategy, I use the following illustration.
If you have ever gone fishing, you have probably realized that there is more to fishing than merely baiting your hook, casting it into the water and reelin
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
g in fish. The same is true in advertising.
When I was a child, I would take a fishing rod and reel -equipped with little more than a hook and a bobber - down to a creek behind our house. As I made my way to the creek, I dug up a few worms, and when I arrived at the water’s edge I impaled the unlucky creatures on my hook and tossed the line into the cree
When I was a child, I would take a fishing rod and reel -equipped with little more than a hook and a bobber - down to a creek behind our house. As I made my way to the creek, I dug up a few worms, and when I arrived at the water’s edge I impaled the unlucky creatures on my hook and tossed the line into the cree
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
.
Because my goal was to catch “anything,” the only fish I ever caught were either carp or catfish and I didn’t catch those very often. I knew that the creek that ran behind my childhood home was teaming with blue gill, bass and other “desirable” fish. I knew because I saw other anglers stand in the very spot I did and catch those very fish. However, des
Because my goal was to catch “anything,” the only fish I ever caught were either carp or catfish and I didn’t catch those very often. I knew that the creek that ran behind my childhood home was teaming with blue gill, bass and other “desirable” fish. I knew because I saw other anglers stand in the very spot I did and catch those very fish. However, des
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
pite my good intentions and all of my efforts, the best I ever caught was an occasional carp or catfish.
Years later, I can see that the reason I was catching these “bottom feeders” is that I had my hook lying on the bottom of the creek. The anglers who were bringing in the fish I desired weren’t using the huge hook I was using, nor were they using earth
Years later, I can see that the reason I was catching these “bottom feeders” is that I had my hook lying on the bottom of the creek. The anglers who were bringing in the fish I desired weren’t using the huge hook I was using, nor were they using earth
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
orms for bait. (Nor, for that matter, were they using an oversized orange bobber!) In my youthful exuberance, I had over-estimated the depth of the waters and seriously over-estimated the mouths of the creek’s “desirable” fish. No matter how noble my goals, I was not fishing with the proper bait and tackle, so I could not catch the fish I desired.
Experi
Experi
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
enced anglers know that choosing the proper tackle is essential before you begin to fish. You have to know what fish you are targeting, because that determines everything else. By the time an angler picks a target, s/he will have made many decisions well in advance. The first choice is whether to fish in fresh water or salt water. From there, the angler w
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
ll choose the weight of the line, the type of bait and the size of the hook.
If you want to be successful in fishing, you have to choose your target in advance. You have to develop a "fishing strategy". The same is true when you're fishing for customers for your business.
Using marketing tactics is like using bait when you fish. You may b
If you want to be successful in fishing, you have to choose your target in advance. You have to develop a "fishing strategy". The same is true when you're fishing for customers for your business.
Using marketing tactics is like using bait when you fish. You may b
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
e using a bait that is irresistable to sailfish on the open ocean, but when you're sitting on a boat in the middle of a lake teaming with bluegill, your irresistable bait won't result in catching very many fish.
Marketing Tactics, when used to support a Marketing Strategy, can be powerful. However, when used haphazardly, they can actually hurt your busin
Marketing Tactics, when used to support a Marketing Strategy, can be powerful. However, when used haphazardly, they can actually hurt your busin
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
ss.
There is no such thing as a "magic marketing tactic" that works for everyone, every time. Yet, you'll find entire books focused solely upon marketing tactics instead of helping you develop a marketing strategy. That's probably because executing marketing tactics is easy. Developing a marketing strategy can be hard if you don't have direction.
There is no such thing as a "magic marketing tactic" that works for everyone, every time. Yet, you'll find entire books focused solely upon marketing tactics instead of helping you develop a marketing strategy. That's probably because executing marketing tactics is easy. Developing a marketing strategy can be hard if you don't have direction.
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
ong>The basics of developing powerful marketing strategies
STEP ONE - Research, research research
This is where you find out what you do not know. The more you know, the better your marketing strategy will be. Be certain you define the following:
STEP ONE - Research, research research
This is where you find out what you do not know. The more you know, the better your marketing strategy will be. Be certain you define the following:
- Your customers
Why do they buy from you?
What are t
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
hey buying from you? (It may not be what you think!)
What problems are they trying to solve?
How old are they?
What is their income?
What is their level of education?
What is their marital statues?
Do they have a religious preference?
What is their comfort level with technology?
Where do they live?
Wher
What problems are they trying to solve?
How old are they?
What is their income?
What is their level of education?
What is their marital statues?
Do they have a religious preference?
What is their comfort level with technology?
Where do they live?
Wher
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
do they work?
What do they drive?
How far do they drive?
The list goes on and on. You simply cannot know too much about your customers.
Your competitors
What do they drive?
How far do they drive?
The list goes on and on. You simply cannot know too much about your customers.
Who are your competitors?
Are they only in your industry?
What is their USP (Unique Selling Proposition)?
Why do their customers c
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
hoose them?
You may be surprised to discover your competition may not be another business after all. Consider the car wash chain that discovered their biggest competitor was their own customer! Instead of focusing their marketing messages on "on upping" other car wash facilities, this chain changed their focus and began airing messages to ed
You may be surprised to discover your competition may not be another business after all. Consider the car wash chain that discovered their biggest competitor was their own customer! Instead of focusing their marketing messages on "on upping" other car wash facilities, this chain changed their focus and began airing messages to ed
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
cate their customers on the benefits of their system over washing their cars at home.
Once this business recognized who their true competitor was and changed their ad copy, they began to see measurable results in the bottom line!
STEP TWO - Determine the problems your customer has and the solutions you offer.Everyone has problems.
Once this business recognized who their true competitor was and changed their ad copy, they began to see measurable results in the bottom line!
STEP TWO - Determine the problems your customer has and the solutions you offer.Everyone has problems.
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
Marketing is merely the act of bringing your solutions before the people who need it most and are ready, willing and able to pay for it.
STEP THREE - Determine the emotional triggers that will ign
The more you know about your customer, the better you'll be able to showcase the solutions you offer that s/he is seeking.
STEP THREE - Determine the emotional triggers that will ign
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
te your sales.
The act of buying is a complex and emotional decision. The reason your customer is making a purchase is not always readily apparent. While you may think that you are selling candles, your customers may actually be buying:Notice, not one of the customers abov
- Emergency lighting
- Aroma therapy
- Ambiance
.
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
e is buying candles. They are instead, purchasing a function of the candles.
Find out why your customers are buying and you will be on your way to marketing success.
STEP FOUR - Creating a marketing strategy that delivers results!
Find out why your customers are buying and you will be on your way to marketing success.
STEP FOUR - Creating a marketing strategy that delivers results!
Now it is time to take the information gathered in the first three steps to create a preci
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
e marketing strategy for your business or product. Once you recognize who your potential customer is, you can begin to focus your message on their wants, their needs and their desires.
A marketing strategy is simply a plan where you get your message in front of the right people, those who want and need your product or service.
A marketing strategy is simply a plan where you get your message in front of the right people, those who want and need your product or service.
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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