Tags |
|
|
Links |
|
|
Other Articles - Is Competition in Coaching a Good Thing?
Do you think that having competition for your coaching services is a good thing or a bad thing? I am surprised at the number of coaches who think that competition is 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
bad thing. This is an erroneous assumption.
Coaches often cite the presence of competitors in coaching being bad as they think that there will be less of the pie of
Coaches often cite the presence of competitors in coaching being bad as they think that there will be less of the pie of
; 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
otential clients for them. Believe it or not, competition is a good thing and here is why...
Competition is Good
Having the presence of competition for your
Competition is Good
Having the presence of competition for your
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
coaching services is evidence that:
1. A market place exists - By seeing competitors (with successful practices) operating in your niche market, you know tha
1. A market place exists - By seeing competitors (with successful practices) operating in your niche market, you know tha
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
there is a need for your type of service. People are already demonstrating their need and willingness to do something about it in the only time that matters in market
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
ng - the present moment.
2. There are effective ways to reach your clients - You can learn from observing your competitors and the marketing methods they use
2. There are effective ways to reach your clients - You can learn from observing your competitors and the marketing methods they use
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
to attract clients. This can shorten your learning curve tremendously so you have less trial and error.
3. Other coaches are being fed (and more) - If you s
3. Other coaches are being fed (and more) - If you s
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
e a number of other coaches in your niche market (again with successful practices) this shows you that they are able to contribute to their lifestyle through running t
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
eir own coaching practice.
4. Your idea has potential - If other coaches are operating successful practices in your niche area - then why not you? Just put y
4. Your idea has potential - If other coaches are operating successful practices in your niche area - then why not you? Just put y
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
ur own unique spin on the niche to differentiate yourself slightly from the competition and give people a reason to choose you.
The above points are simply a pragmati
The above points are simply a pragmati
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
way of setting up your own successful coaching practice.
Sure you could go after a fresh market that is untapped and has little or no competition. However, this rout
Sure you could go after a fresh market that is untapped and has little or no competition. However, this rout
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
e contains more uncertainty for you and often has a lower probability of success as it's unproven. Of course, there are benefits of being the 'trail blazer' in your ma
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
ket but there are no certainties that your idea will succeed. It's your choice.
Look for Competition
Here are a few points to consider when looking at your
Look for Competition
Here are a few points to consider when looking at your
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
ompetition:
1. Do you have any? - Ideally, you want to find a niche market where there is some competition. Preferably your competition will come from other
1. Do you have any? - Ideally, you want to find a niche market where there is some competition. Preferably your competition will come from other
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
oaches so your market are already used to purchasing coaching services.
Your direct competition could also come from other trainers and consultants who satisfy a simi
Your direct competition could also come from other trainers and consultants who satisfy a simi
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
ar need in your marketplace.
2. Are they living well? - Have a look at your main competitors in your chosen niche. Are they living the type of lifestyle you
2. Are they living well? - Have a look at your main competitors in your chosen niche. Are they living the type of lifestyle you
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
aspire to?
Be on the look out for competitors that are not really marketing themselves very well but still have some clients. If this is the case, you have the chance
Be on the look out for competitors that are not really marketing themselves very well but still have some clients. If this is the case, you have the chance
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
of greater success with smarter marketing.
3. What will make you different? - Remember that potential clients need a reason to choose you over your competito
3. What will make you different? - Remember that potential clients need a reason to choose you over your competito
.
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
s. Why would someone choose you specifically?
Find ways to differentiate your coaching practice from the competition so you give people a reason to choose you.
I do
Find ways to differentiate your coaching practice from the competition so you give people a reason to choose you.
I do
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
ope that this article is useful for you and that it has got you thinking about what it takes to set up a coaching practice that gives you the biggest chance of success
tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.otherarticles.org.ua/article/28365/otherarticles-Is-Competition-in-Coaching-a-Good-Thing.html">Is Competition in Coaching a Good Thing?</a>
BB link (for phorums):
[url=http://www.otherarticles.org.ua/article/28365/otherarticles-Is-Competition-in-Coaching-a-Good-Thing.html]Is Competition in Coaching a Good Thing?[/url]
Related Articles:
A 7 Step Approach To Building A Client Attractive Brand
How to Feel Satisfied in Your Career
Bookmark it:
|