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Useful Articles - 7 Steps Any Solopreneur Can Use to Build a Winning Brand
What does your brand say to your customers? What, you don't have a brand because you're a solopreneur; a one-woman shop? Ah, but you do. If you have business, you have a brand, whether you realize it or not.
Think of some of the world
Think of some of the world
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
-wide brands we experience every day – Target, Dell, and BMW. Just mentioning these names conjures up a feeling, doesn't it? For example, when you thought of Target you may have felt a bit light and happy because of their upbeat commer
; 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
ials. When you thought of Dell you might have thought "They're a friendly computer company. I could see myself buying a computer from them." Or, when BMW crossed your mind, perhaps the image came to your mind of your hands intensely gr
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
ipping the sterling wheel of the "Ultimate Driving Machine" while your foot is seriously on the accelerator as you swerve around tight-in corners. Oh, the feeling of power under your feet!
When someone says your company's name, people ge
When someone says your company's name, people ge
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
some kind of immediate gut feeling, too. Something goes through their mind - That's your brand.
The question is, "Is it working for you?"
Your brand is the experience your target customers have while interacting with you. If their ex
The question is, "Is it working for you?"
Your brand is the experience your target customers have while interacting with you. If their ex
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
erience evokes a strong, positive emotional response, then you've got a great brand. Why? Because customers buy from emotion and back it up with their head. If your customers have trouble remembering your name when you're not actually i
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
n the room then you need to work on your brand.
Creating a brand isn't just for the big companies; it's for companies of all sizes because we're all fighting for attention from our target customers. Here are seven steps any solopreneur
Creating a brand isn't just for the big companies; it's for companies of all sizes because we're all fighting for attention from our target customers. Here are seven steps any solopreneur
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
can use to building a winning brand:
Step 1: Rekindle Your Passion – Why did you start your business? What really brings you satisfaction when you're working with your customers? Tap into your passion about your business and let it res
Step 1: Rekindle Your Passion – Why did you start your business? What really brings you satisfaction when you're working with your customers? Tap into your passion about your business and let it res
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
urface. Therein lies the essential emotion of your brand.
Step 2: Describe Your Target Customer – We don't sell to everyone, we sell to some ONE. Think of your best existing customer and write a paragraph describing him or her – what h
Step 2: Describe Your Target Customer – We don't sell to everyone, we sell to some ONE. Think of your best existing customer and write a paragraph describing him or her – what h
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
/she looks like, his/her age, marital status, any kids, how much money he makes, his/her occupation, needs, interests, etc. Compare this composite to your brand. Would your target customer find your brand emotionally attractive?
Step 3
Step 3
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
Identify Your Brand Personality – Even with all the technology tools today, people still buy from people, even if it's your photo on a website. Your personality plays a huge part in creating your brand experience. And you can't fake wh
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
o you are so be clear who what you're working with. Identify 3 to 5 adjectives that define who you are. These are the cornerstone of your brand as a solopreneur.
Step 4: Name It And Claim It – The name of your company is often how othe
Step 4: Name It And Claim It – The name of your company is often how othe
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
s first interact with your business. Whether your company name is "Virginia Plumbing and Heating" or "Back in Action", it sends a strong message that either supports or distracts from the experience you're trying to create. Is it the me
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
ssage you want to send? If not, time for a change.
Step 5: Be Consistent – Every way you interact with your customers needs to reflect your brand personality: Your business name, logo, tag line, corporate colors, stationery, brochures
Step 5: Be Consistent – Every way you interact with your customers needs to reflect your brand personality: Your business name, logo, tag line, corporate colors, stationery, brochures
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
product packaging, even how your phone is answered and how you respond to "what do you do?" Write down all the ways a person can interact with your company? Is each interaction supporting or derailing your emotional brand experience?
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
tep 6: Create Experiences, Get Feedback – You have to start somewhere. So, you launch your company and brand and see what works. What ultimately matters is what the customer thinks and feels. Ask current customers what they like about d
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
oing business with you, and what they wish was a bit different. Ask potential customers for comments on what caught their attention to check out your business. Listen for specifics.
Step 7: Keep Tweaking – Your brand is a living thing
Step 7: Keep Tweaking – Your brand is a living thing
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
o expect it to change and don't get up tight if you didn't get it quite right the first time. No one does, not even the big guys. The key is being deliberate about what your brand stands for, translating that into specific experiences w
.
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
ith your customer, proactively getting feedback, and having the courage to make changes.
Working to perfect your brand takes time and deliberate action, but it will pay dividends beyond your wildest dreams. Creating a great brand – one
Working to perfect your brand takes time and deliberate action, but it will pay dividends beyond your wildest dreams. Creating a great brand – one
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
hat sparks a positive emotional response in your customers – will have you perceived as an expert in your field, have raving fans (your customers) singing your praises plus bring big profits to your business.
Copyright (c) 2007 Mary Fole
Copyright (c) 2007 Mary Fole
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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