Marketing new medical devices. 1988

R J LoBuglio
Wound Care Products, Thermedics, Inc., Woburn, MA 01888.

The marketing concept says that a firm should focus all of its efforts on satisfying its customers, at a profit. This is really a a new philosophy of business, replacing a production-oriented philosophy which focused on organizing a firm's resources to make products and then selling them. The marketing concept calls for reorienting the firm's ways of doing things. Instead of trying to get customers to buy what the firm has produced, a marketing-oriented firm would try to sell what the customers want. The underlying principle of the marketing concept is that a firm should seek to meet the needs of customers, at a profit, rather than place its main emphasis on its own internal activities and utilization of its resources. These latter factors are also important, of course, but those who believe in the marketing concept feel that customers' needs should be the firm's primary focus and that resources should be organized to satisfy those needs. Give the customer what he needs--this may seem so obvious and logical that it is difficult to understand why the marketing concept is considered such a breakthrough. However, people haven't always done the logical and obvious. In a typical company, production men thought mainly about getting the product out. Accountants were only interested in balancing the books. Financial people were absorbed in the company's cash position. And salesmen were mainly concerned with getting orders. No one was particularly concerned with whether the whole system made sense. As long as the company made a profit, each department went merrily on its independent way, "doing its own thing." Unfortunately, they still do in the majority of companies today. Finding out customer's attitudes can avoid prejudices and stereotypes commonly found in the typical organization. The need for market research to avoid stereotypes can be dramatized by the following results from a large-scale survey of European adults: The average Frenchman uses almost twice as many cosmetics and beauty aids as his wife. The Germans and the French eat more spaghetti than the Italians. French and Italian housewives are not as interested in cooking as their counterparts in Luxembourg and Belgium. No firm can conduct its business successfully without trying to measure the actual size of markets, present and future. Quantitative measurements are essential for the analysis of market opportunity, the planning of marketing programs, and the control of marketing effort. The firm may make many measures of demand, varying in the level of product aggregation, the time dimension,a nd the space dimension.(ABSTRACT TRUNCATED AT 400 WORDS)

UI MeSH Term Description Entries
D010330 Patents as Topic Works about exclusive legal rights or privileges applied to inventions, plants, etc. Trademarks,Patents as Topics,Trademark
D011358 Product Surveillance, Postmarketing Surveillance of drugs, devices, appliances, etc., for efficacy or adverse effects, after they have been released for general sale. Drug Surveillance, Postmarketing,Evaluation Studies, Postmarketing,Postmarketing Product Surveillance,Product Surveillance, Post-Marketing,Drug Surveillances, Postmarketing,Evaluation Study, Postmarketing,Post-Marketing Product Surveillance,Post-Marketing Product Surveillances,Postmarketing Drug Surveillance,Postmarketing Drug Surveillances,Postmarketing Evaluation Studies,Postmarketing Evaluation Study,Postmarketing Product Surveillances,Product Surveillance, Post Marketing,Product Surveillances, Post-Marketing,Product Surveillances, Postmarketing,Studies, Postmarketing Evaluation,Study, Postmarketing Evaluation,Surveillance, Post-Marketing Product,Surveillance, Postmarketing Drug,Surveillance, Postmarketing Product,Surveillances, Post-Marketing Product,Surveillances, Postmarketing Drug,Surveillances, Postmarketing Product
D003258 Consumer Behavior Behavior associated with the procurement of goods, services, or experiences. Consumer Preference,Consumer Satisfaction,Behavior, Consumer,Behaviors, Consumer,Consumer Behaviors,Consumer Preferences,Preference, Consumer,Preferences, Consumer,Satisfaction, Consumer
D004864 Equipment and Supplies Expendable and nonexpendable equipment, supplies, apparatus, and instruments that are used in diagnostic, surgical, therapeutic, scientific, and experimental procedures. Apparatus and Instruments,Devices,Medical Devices,Device, Medical,Devices, Medical,Equipment,Inventories,Medical Device,Supplies,Device,Instruments and Apparatus,Inventory,Supplies and Equipment
D005376 Financial Management The obtaining and management of funds for institutional needs and responsibility for fiscal affairs. Endowments,Financial Activities,Funds,Activities, Financial,Activity, Financial,Endowment,Financial Activity,Fund,Management, Financial
D006801 Humans Members of the species Homo sapiens. Homo sapiens,Man (Taxonomy),Human,Man, Modern,Modern Man
D000066 Accounting System of recording financial transactions. Accountings
D000329 Advertising Works about the act or practice of calling public attention to a product, service, need, etc., especially by paid announcements in newspapers, magazines, on radio, or on television. (Random House Unabridged Dictionary, 2d ed) Advertising as Topic,Advertisement as Topic,Telemarketing,Advertisings
D001698 Biomedical Engineering Application of principles and practices of engineering science to biomedical research and health care. Clinical Engineering,Engineering, Clinical,Engineering, Biomedical
D013673 Technology Assessment, Biomedical Evaluation of biomedical technology in relation to cost, efficacy, utilization, etc., and its future impact on social, ethical, and legal systems. Assessment, Biomedical Technology,Assessment, Technology,Biomedical Technology Assessment,Technology Assessment,Technology Assessment, Health,Assessment, Health Technology,Assessments, Biomedical Technology,Assessments, Health Technology,Assessments, Technology,Biomedical Technology Assessments,Health Technology Assessment,Health Technology Assessments,Technology Assessments,Technology Assessments, Biomedical,Technology Assessments, Health

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