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Main Subject - Discover Why You Need Product Marketing Management Now!
A Chief Financial Officer looked at the Marketing Knowledge Mentor standing next to her in the elevator and stated, "You work with those product managers in marketing on the second floor. They
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
don't build anything, they don't sell anything and they spend all our money! So the big question is why do we need product management or marketing at all?” That is the business perspective man
; 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
people have of product or brand management in Marketing!
There are many business articles focused on the value of the brand, building customer-focused value or developing the value propositio
There are many business articles focused on the value of the brand, building customer-focused value or developing the value propositio
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
. Who is the champion of the value proposition?
Is it the R&D group, Operations people or Engineering people? Actually, it's none of these people. They are focused on developing the function
Is it the R&D group, Operations people or Engineering people? Actually, it's none of these people. They are focused on developing the function
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
lity or managing the quality of the products or services in the company. These company departments are looking for the next release or the next line extension for their products. They are work
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
ng hard to maintain the quality of the current products.
Hertz, Hilton and Harvard are services, yet they have attributes that need developing, such as the Hertz Gold card, Hilton reward club
Hertz, Hilton and Harvard are services, yet they have attributes that need developing, such as the Hertz Gold card, Hilton reward club
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
or Harvard Business Review magazine format.
Is it Sales? They're on the front line. They know what the customer wants! True, but only their individual customers, if they are selling to Gene
Is it Sales? They're on the front line. They know what the customer wants! True, but only their individual customers, if they are selling to Gene
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
al Motors, its price, not brand. If it's Dell Computers, it's brand and functionality. Or, for Hilton Food Service Group, it's quality and quantity. Think about your Sales people and how the
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
work? Sales people are correctly focused on the needs of the current customers - currently. But we need someone to focus on the whole market opportunity - current customers, potential custome
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
s and future customers.
Who's really managing the analysis of where customers want to go? Who is championing the brand, so it can evolve to meet both current and future needs? Who is develop
Who's really managing the analysis of where customers want to go? Who is championing the brand, so it can evolve to meet both current and future needs? Who is develop
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
ng the value proposition? The Product Manager is the key to managing individual products and services.
Are there any facts or studies on an ROI pertaining to having product managers, compared
Are there any facts or studies on an ROI pertaining to having product managers, compared
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
to not having them in the company? SONY did a study to see if the R&D group or Brand Managers should handle new product development. Their study concluded that greater volume, revenues and p
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
ofits were gained by having Brand Managers manage the new product development and focus the programs.
Various articles and studies regarding many North American, European and Asian companies h
Various articles and studies regarding many North American, European and Asian companies h
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
ve clearly shown various events affecting the marketing area: increased competition, deregulation and an increased need for customer focus. To manage these, a centralized group paying attenti
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
n to the product or services and the impact of these various events, as they come up, is necessary for survival.
How do I know if Product Managers will work in my company now?
There are three
How do I know if Product Managers will work in my company now?
There are three
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
key criteria your organization can establish and then measure this business opportunity.
1. Set up your Product Managers with necessary resources to function effectively.
2. Set metrics f
1. Set up your Product Managers with necessary resources to function effectively.
2. Set metrics f
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
or the products or services they manage, using the marketing plan as a scorecard.
3. Track and measure the metrics to find out the increased ROI for this investment.
Interestingly, th
3. Track and measure the metrics to find out the increased ROI for this investment.
Interestingly, th
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
top 100 brands in the world all have marketing Brand or Product Managers managing, developing and directing them. Just think of the volume, revenue and profit they have generated over the pas
.
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
50 years for their company and shareholders!
Now we know the answer!
Those marketing Product or Brand Managers build focus while providing direction for their products or services. They pro
Now we know the answer!
Those marketing Product or Brand Managers build focus while providing direction for their products or services. They pro
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
ide added-value elements, so sales can sell at a higher profit, and they invest money in the value proposition - to increase profitability.
That's why you need Brand and Product Management Now
That's why you need Brand and Product Management Now
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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