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Other Articles - Psychology Private Practice Marketing: Choosing a Niche Market
A niche market is a group of people with common characteristics, issues and concerns.
For example, attorneys, couples dealing with infertility, parents of children with ADHD, children whose parents divorced and career women over 40
For example, attorneys, couples dealing with infertility, parents of children with ADHD, children whose parents divorced and career women over 40
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
are all potential niches.
Defining your services and target groups are an important step in effective marketing. It is not enough to say you are a therapist. “Therapy” is too broad and non-specific.
Marketing is simply getting the
Defining your services and target groups are an important step in effective marketing. It is not enough to say you are a therapist. “Therapy” is too broad and non-specific.
Marketing is simply getting the
; 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
word out about what you do.
Not choosing a target market or markets is like trying to get your voice heard over the din of your whole community.
You aren’t going to be heard.
If you want to effectively communicate and get the word
Not choosing a target market or markets is like trying to get your voice heard over the din of your whole community.
You aren’t going to be heard.
If you want to effectively communicate and get the word
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
out, you need to know to whom you want to communicate.
That’s the idea behind the exercise of choosing a niche market. No one can effectively market to everyone.
Great marketing goes in depth with a specific target group. Surface
That’s the idea behind the exercise of choosing a niche market. No one can effectively market to everyone.
Great marketing goes in depth with a specific target group. Surface
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
attempts to get the attention of the masses does not work.
Sometimes a niche can be a clinical specialty. Specialties attract clients more than a general practice. It will also attract your ideal client — the type of client and serv
Sometimes a niche can be a clinical specialty. Specialties attract clients more than a general practice. It will also attract your ideal client — the type of client and serv
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
ices you most enjoy in your work. Sophisticated consumers today are more likely to seek out a specialist if they can find one.
It may take some time and reflection to identify ideal niches for your practice. It may evolve over time.
It may take some time and reflection to identify ideal niches for your practice. It may evolve over time.
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
Or maybe one day, your niche will jump out at you.
Richard Bolles said, “Your mission is where the world’s deepest hunger and your heart’s greatest gladness intersect.” The same can be said for identifying your niche.
Some questio
Richard Bolles said, “Your mission is where the world’s deepest hunger and your heart’s greatest gladness intersect.” The same can be said for identifying your niche.
Some questio
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
ns to stimulate your thinking:
- Think about your previous clients. What profession was your most enjoyable client?
- What characteristic of clients do you tend to attract?
- What similar problems do your clien
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
ts seem to have?
What type of situation have you been most effective in?
What knowledge and skills have your accumulated? How have you utilized (or underutilized) them in your work to date?
Developing a
Developing a
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
Service Line
As you define your practice, you will want to select a niche or maybe a few niches and get to know them well. You will research their felt needs and urgent concerns. You will shape your services to meet these needs and
As you define your practice, you will want to select a niche or maybe a few niches and get to know them well. You will research their felt needs and urgent concerns. You will shape your services to meet these needs and
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
develop effective ways of communicating to your niche.
Do some market research. What are the felt needs and issues that appear to be of urgent concern to people in the target group you plan to serve? Talk to and interview a number
Do some market research. What are the felt needs and issues that appear to be of urgent concern to people in the target group you plan to serve? Talk to and interview a number
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
of people in your target market to find out. Read the newsletters they read. Attend meetings they attend.
Make a list of the kinds of services you have interest in providing and what interests and energizes you.
Examples:
Make a list of the kinds of services you have interest in providing and what interests and energizes you.
Examples:
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
Helping ADHD executives increase productivity
Assisting struggling college students to achieve better grades
Helping singles to have greater success in dating relationships.
The basic idea is to match t
The basic idea is to match t
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
he felt needs of your market with solutions that you can offer, based on what services command your interest and is within your capability. You may need to receive some training if a service is not within your current skill set.
By
By
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
zeroing in on a specific niche and line of services, you will develop a competitive advantage over other providers in your area, due to your specialization. You will eventually develop a reputation for the service that will attract r
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
eferrals to you.
Speaking of competition, there are advantages to having services in our line that are not covered by managed care. Although many people will opt to pay out of pocket for customized, quality services, others may not.
Speaking of competition, there are advantages to having services in our line that are not covered by managed care. Although many people will opt to pay out of pocket for customized, quality services, others may not.
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
Examples of services that are not covered by managed care include child-custody evaluations and other court-related services, psycho-educational evaluations, business consulting and coaching business owners or executives.
Other exa
Other exa
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
mples of specific services include resiliency training, co-parenting counseling for divorcing parents, divorce recovery groups, marriage enrichment retreats, career counseling for professionals in transition, court-ordered psychologi
.
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
cal evaluations, forensic consulting in personal injury cases, or a 10-week group for business professionals with ADHD.
Again, more traditional services, such as psychotherapy for anxiety or depression, are fine as well. There are e
Again, more traditional services, such as psychotherapy for anxiety or depression, are fine as well. There are e
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
ffective ways to market these services and gather private-pay referrals. I have a steady stream of referrals based on my reputation for cognitive therapy of anxiety and depression. If this applies to you, keep it as a part of the mix
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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