E-Folder - Internet and Businesses Online

The internet has changed marketing forever.

If used well, the internet is a marketer's dream, enabling them to directly reach their customers. If misunderstood and used incorrectly, it can severely damage or even destroy a company.

The marketing departments of l

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

arge, traditional companies are just beginning to understand the power of the web and how to use it effectively. When they get it right, the results can be dramatic. Ford made an additional $90 million in revenue just by moving 2% of their marketing budget online.

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

But, just allocating money to online efforts is not enough. Marketers have to understand the difference between simply buying media to push their message and influencing their buyers whilst they make their buying decision.

Traditional marketing focused on creati

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 a message and pushing that message at a target audience through adverts in print publications, billboards, radio and TV. If the audience believed the message and it was relevant to them, they would buy the product or service. Job done.

This situation is changin

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

very rapidly and it's the internet that is driving the change.

Buying a Digital Camera

Last week, I was in the market for a digital camera. I had a rough idea of what I wanted, but was unsure of what was available. A few years ago, the first thing that I would

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

have done to help me make a decision about what to buy would have been to go to a newsagent/news stand and buy a magazine about digital cameras. Every other page would have a large, colourful advert influencing my decision. Advertisers felt in control of how prosp

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

ctive customers consumed the messages they wanted them to hear.

Last week, buying a magazine did not even cross my mind.

I went straight to the computer and started to search for websites offering independent camera reviews. The quality of the free information I

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

found was superb. It was detailed, informed, professional and comprehensive. If you're interested in some of the sites I looked at, go to Digital Camera Review (www.dpreview.com) and Digital Camera Views (www.dcviews.com).

I was in total control of the research p

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

ocess. The camera manufacturers had to sit on the sidelines and wait to see what my verdict was and which camera I had decided to buy.

Customers are now in charge.

Recent research found that over 80% of new car buyers do internet research before making a purchas

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. The figure is probably similar for all large purchases (homes, holidays, TVs, mobile phones, etc.) For the digital generation, internet research is used even more frequently to decide on many more purchases, including music, books and clothes.

People now decid

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

what they want and go looking for it. It is much harder to push your message at your target audience in the online world.

What has this go to do with specialist information publishers?

My example above about looking for a digital camera should give you a good i

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

ea of why specialist information publishers are so important. They are becoming a critical part of the marketing/buying process.

If an online publisher is creating regular articles about a niche subject, they will find their way to the top of the search results p

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

ges. If they are being found by people researching what to buy, they will become an important influence on the final buying decision.

The more savvy advertisers are realising this and are starting to court individual experts who could influence their buyers.

Wor

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

king with Manufacturers and Suppliers

There are many ways that advertisers try to work with (and influence) specialist publishers. They include:

• Provide free products for evaluation
• Invite publishers to company events, such as new product launches

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

Provide free products for competitions
• Involve publishers in product development
• Provide sneak previews of new products
• Ask to advertise on their website
• Offer to sponsor all or part of the website

Staying Independent

Some specialist

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

publishers refuse to work with manufacturers and suppliers because they say that it taints their independence.

I think that this is a mistake for three reasons:

A relationship with key companies in your sector should give you access to information that is exclus

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

ve and unique. This is very valuable to your readers and is what will keep them loyal to your site. Having access to senior people in organisations in your sector gives you credibility. If they are willing to spend time talking with you, it endorses you as an expe

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

rt and a credible source of information. These companies can become an important regular income stream for your online business through advertising and sponsorship.

Of course, it is essential that you are open and honest about these relationships to all parties c

.

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

ncerned.

You must tell suppliers that any relationship will not influence what you write and they will not be able to edit your articles.

Likewise, you should be open with your readers about any relationship you have with companies when writing about them or the

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

r products.

It can be a difficult balancing act, but magazine publishers have been doing it for decades, so it is certainly possible.

Specialist information websites are all set to become very important to advertisers. Get ready to make hay whilst the sun shines

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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Catalogs are direct mail items that are often used by businesses in today's society. Before catalog printing is so well-liked. But with the emergence of internet technology, it is slowly becoming a lesser form of marketing. But it is undeniable that there are still so many people who prefer to do their shopping through catalogs in print.

Advertising is more than just the means of disseminating product information. It is a primary communications tool of our economic system. Moreover, aside from its diverse role as a persuasive communication tool, it is also part of the everyday culture of virtually everyone. Actually advertising is a part of our social, cultural, and business environment.

Lessons learned from an e-commerce adventure. It is better to have tried and failed than never to have tried at all; and even more important to learn from your mistakes. That is what I keep telling myself after having invested the time and cash equivalent to a Harvard MBA in an e-commerce start-up that has stalled and is winding down.

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