Chapter 17: Marketing and Sales

Each year, the FDA approves 3,000 to 4,000 devices under the 510(k) program. Because its approvals are based on showing of substantial equivalence, many of these devices will represent incremental advancements from their competitors’ products. Medtronic stated in its 2007 Annual Report that two-thirds of its revenue came from products introduced in the last two years (5). The problem of competitions may be further compounded by the fact that your company has only limited funds for marketing purposes…