One approach currently used by medical device companies is to showcase their products during medical device conferences/ summits/ expos that are attended by physicians, other technology companies, patients, etc. Although with empowering customers being online and performing health-related research, there is a shift of practices. While physician direct sales/ referrals are of course still a vital component of any comprehensive medical device marketing strategy as mentioned during the lecture, digital direct-to-patient (DTP) campaigns are becoming the new best practices. More than ever people are online surfing the web and conducting health-related searches online. Recent data shows Google alone now process over 28 billion medical inquiries per year and confirms 43% of consumers now say the internet is their first point of reference for health-related info, whereas only 14% regularly seek out the advice of their physician. Patients are only going to become more empowered in the future, meaning medical device marketing can no longer exist simply as a means to raise awareness and increase brand visibility; it must provide educational resources and actionable advice. In terms of DTP, many are already recognizing the value of co-marketed microsite approach, which caters to consumers preferences both through more local-minded, personalized engagement from brands, and by offering people the opportunity to conduct research and make their own decisions. Co-marketed microsites target a specific geographic area, highlighting the physicians and medical practices that prescribe or utilize the device for treatments or procedure; noting that the technology is introduced secondarily.
https://www.mdconnectinc.com/medical-marketing-insights/medical-device-marketing-strategies-2017

One approach that I have seen companies marketing their product is through partnerships with larger more recognized companies. This allows for the product to be seen by people who may already follow the growth of that larger company. In development the next stage is usually clinical trials, therefore having a recognized trusted company backing your product can also give a sense of relief to the buyers and allow the opportunity to focus more on the quality of the product. There are also many times where a company’s success is determined by their stock portfolio. By targeting getting the information of your product to new shareholders, can lead to an increase in price of the stock and then have the company seen by more people. It also depends on the product. Having a product that a used to sustain life in anyway would more or less sell itself.

4 STEPS TO A SUCESSFUL PRODUCT LAUNCH
The top four challenges faced by a new medical device product launch team are planning, communications, implementation, and follow-up.
To achieve a successful medical device launch, all disciplines involved with the new device (engineering, technical documentation, marketing, sales, distribution partners, and customer support) must work collaboratively. Launch success is usually measured by return on investment, adoption, market share, customer satisfaction, and/or awareness.
Since medical devices require a pre-market submission by the Food and Drug Administration (FDA) before marketing the device, the actual launch date may be contingent on receiving final regulatory approval. Although the FDA has taken many steps toward enhancing the transparency of its operations and decision-making processes through the Transparency Initiative, an unpredictable FDA timeline for pre-market approval can have a huge impact on a company’s budget, staff, and project timelines, often resulting in a scramble to pull the various phases of the market launch together once approval has been obtained. Such uncertainty can be overwhelming for the launch team. Looking at the product launch as a process rather than as a targeted event will help manage the stressors associated with unexpected delays.
1. Determine your Product Launch Timeline
Take the time to make a proper assessment of your regulatory situation and define your strategy for submission and launch. If you are introducing a brand new technology or application, you’ll want to develop your strategy well before the product is launched – sometimes more than a year in advance. One of PLS Launch Solutions’ clients began talking about the promise of their new technology, a research system, 18 months before the product was ready to ship. Two main factors contributed to this decision:
Price Point – At close to $250K, prospects would need time to plan the purchase into their budget cycle, and in some cases, seek grant funding.
Application Novelty – Because the technology was so new to the target market, the company wanted to publish its pilot test results as they emerged to establish credibility.
For less expensive investments, or more accepted devices, starting launch activities 3–6 months before product availability is appropriate.
ProductLaunchCriticalPlanning
2. Create a Product Launch Plan
Developing a comprehensive Product Launch Plan, which includes a timeline that allows for the unexpected, is the most critical element for a successful product launch. When developing this plan, make sure you include input from all of the disciplines involved in the project. Also, make sure you establish a Communications Schedule within the plan that enables all members of the project launch team to have a clear understanding of the timing, scope, and implementation of the product launch process.
3. Create and Follow a Documentation Plan
A customer-focused Documentation Plan is the most efficient way for Technical Documentation Managers to control documentation costs and contribute to a successful product launch process. This plan is designed to:
Enable tasks to be delegated and resources applied appropriately.
Share the customer documentation execution strategy with engineering, marketing, and implementation teams.
Track the progress of product development and modify the Documentation Plan accordingly.
Track the development of customer documentation deliverables.
As part of the Documentation Plan, managers need to:
Schedule only documentation content that an actual customer will use.
Obtain all product photographs, illustrations, videos and graphics necessary for the literature produced for the new product, and make this material available to the documentation and marketing teams.
Develop a timeline that ensures all user manuals, installation, and instruction guides are complete and available for distribution prior to the actual launch date.
Allow time for translation of the documents if applicable.
Develop a deployment strategy so all documentation produced is easily accessible by customers.
4. Create a Customer-focused Training Plan
The primary purpose of a training plan for a new product launch is to establish a program to train sales, customer service, and service staff on the new product so they are equipped to help customers evaluate, install, troubleshoot, and maintain the equipment. Secondary purposes include:
Provide sales tools and collateral, and communicate process and support.
Develop a training kit for sales, customer service, and distribution partners to refer to when selling the new product.
Schedule training for the distribution channels that will be selling the product.
Make sure all service personnel are trained and ready to assist with spare parts and service calls.

http://www.launchsolutions.com/blog/medical-device-product-launch-4-critical-planning-steps

I think comparing apple products with me medical device products is a bit of injustice. Apple products in general are made for everyone while medical devices are made for only select group of people such as doctors, patients etc. Apple tries to make their products as cheap as they can while still maintaining profit. While the medical devices are the products for big hospitals and these companies know that they can afford this product. The best possible way I think medical devices devices companies can advertise their products is by knowing their customer, which is researchers, few students, doctors, patients and etc. The best place to approach this people is in conferences, in the hospitals, and research institutes etc. I remember working with Dr. Foulds, who was researching exoskeleton, which functions on motors. Usually Dr. Foulds orders motors from a website called Robotis. About a moth ago, this company send him a motor that is still not on market. I think this is one of the ways companies advertise their product is by giving out free samples.

I found an article online which expresses the importance of having a pre-launch for initiating the fuss about a product. Robert Hawthorne describes it as the art of pre-launch marketing which is composed of:
1. Company pre-launch
2. Product pre-launch
3. Crowdfunding launch
4. Direct Sales Launch
5. Network marketing launch
6. Business Opportunity launch
It is vital in a marketing perspective to have buyers and people interested about your medical device. A common way that marketing for a medical device spreads the word about new products are through conferences or demonstrations. Marketing has to expose the new design benefits to the public by using platforms such as social media or healthcare magazines. Once you advertise the product then networking follows, its vital to project sales for a market gap that the medical device will fill. Once marketing has a list of direct sales then they will meet with hospitals to expand their network. By doing this they open business opportunities to customers even before an actual launch.
References:
http://roberthawthorne.com/pre-launch-marketing/

I want to second Ronak in that it is unfair to compare a generic medical device company to a giant like Apple that makes products aimed at the general market. Apple benefits from the massive media coverage and public interest their exposiums generate. Meanwhile, a medical device company generally has a very small target audience.

For this reason, medical device companies generally advertise to doctors, insurance companies, and other medical field professionals instead of the general public. However, these companies can benefit from targeted advertising such as that offered by advertising giants like Google and Facebook. For example, a company offering a new, advanced cast can advertise directly to consumers that search for arm injuries or casts through Google's targeted advertisements. I see these types of ads sometimes when I search for medical terms- have you guys ever seen them?

While the comparison between Apple and a medical device company is a bit of a stretch, they do use some similar techniques in terms of advertising. My father, who is a physician, always comes back from conferences with company-sponsored pamphlet and models that show the designs of new and improved products. This targeted advertisement is important as they usually allow the company to stick in the mind of the physician when they go to make their orders. One example was a model (non-working) pacemaker that was distributed to doctors who treat patients with arrhythmias. These models were neat things to have on a desk to help explain the procedure of implantation but also had very visible company branding on it.

There are multiple strategies that medical device companies utilize to roll out their devices. Medical device companies utilize strategies that are focused on marketing products towards medical professionals and utilizing academic and medical conferences in order to spread the word on their device. Research papers, clinical trials, and independent studies are also used to prove effectiveness of the device and create a buzz around the launch. While traditional marketing campaigns are also employed they are not on the same stage as companies such as Apple who are marketing to the broader population and general public, having a larger target audience. Medical devices on the other hand can be niche markets and the companies who develop and launch these products rely on medical professionals to recommend their products based on their superior quality to rivals. This goes back to growth strategies and how medical device companies rely on product development strategy in order to create innovative and quality products for market, in order to have a higher recommendation rate.

Many newly medical device companies usually showcase their new medical devices by attending conferences and expos. They also advertise through email and websites, detailing their products and why it is a good fit for many customers. The marketing strategy for these new companies should be heavily invested, especially for a new product or a developing company trying to get noticed in the medical device world. Some medical device companies also come to certain universities and present their ideas and products in order to spread their name and brand. Much of the advertisements can be given through pamphlets and papers, especially to physicians, technology companies, engineers, and even patients. Just like how many pharmaceutical companies go to hospitals to showcase a new drug, many medical device companies need to have the same approach when it comes to marketing. They need to get their name out there and make a sell for themselves in order to enter the market and spread their name to other hospitals and organizations.

Creating fuss for a medical device is hard because many times a product is for a specific population, and this would usually be a small percentage of people. Therefore, it is difficult to get a large group of people excited. Also when a new Iphone comes out it can generate a large audience because there is visible changes in the phone. People get excited over tactile changes. The difference with Medical Devices is that people can never use it themselves and there is always uncertainty present when a new medical device comes into the market. The best way to generate buzz is to talk to as many doctors as possible and get them to use the new product.

If given the choice to open my own business, I would file my business as Limited Liability Company (LLC) over a Corporation. There are many reasons in terms of Taxes, Business Ownership, and Business Operation. In an LLC, one has the flexibility on how to file taxes. Unlike, corporation, LLC’s is treated as single taxation. On the other hand, in a corporation, its taxed on the profit and the dividends that its shareholders receive. Furthermore, there are also pros and cons in terms of business ownership. The owners of the corporation include shareholders. The owners of the LLC are its members. An LLC allows to distribute its ownership to members regardless on member’s contribution. This is important when distributing profits. In a corporation, you cannot create custom stock structure, or else it will be subject to paying the tax twice. All in all, LLC is the way to go for many startups, retail business shops, etc.

One another way a company can showcase the medical device is via a video demonstration. Along with conferences and summits, companies can make these videos available on social media websites. There has been countless number of times where I have seen new surgical device demonstration on FaceBook. Also, it is vital to create the buzz in the industry especially if it is a brand new product, since the product needs all the attention it can get. This way it will make product launch a grand success.

Unlike many consumer products, MedTech companies cannot employ same strategies to promote their products. One serious way that can attract many physicians and healthcare professionals is by creating compelling case studies. Case studies share insight on positive patient outcomes, reduce operational costs, increase productivity, lower readmission rates, increased quality of care, and etc. Since doctores and other healthcare professionals tend to avoid sales reps very often, it may be a good idea to promote through online promotional programs and invite them. Also, trend in promotion via social media is also picking pace in recent times.

Hyping up a product is an important factor in producing a successful medical product release. Good information must be released in order to increase sale and so that the public will buy it. Companies do this by coming into hospitals and offering their devices to people in need so they can test it out. This helps them have advertisers or users who have first-hand account of their experience with their device so that they can share it and attract more users. They can also attend conferences and presentations to showcase their product to make the market aware of its existence.