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Main Subject - Marketing is Simple in Theory but Complex in the Real World
People think that marketing is difficult. In theory it’s really quite simple because you only need to know
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
how to do four things:
1. Attract new customers (or clients)
2. Retain the customers you have attracted
3
1. Attract new customers (or clients)
2. Retain the customers you have attracted
3
; 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
. Maximize the number of purchases they make and the value of each purchase
4. Win back those customers you
4. Win back those customers you
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
have lost
That’s it, just four marketing activities. It’s simple, but there is a big challenge that adds
That’s it, just four marketing activities. It’s simple, but there is a big challenge that adds
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
complexity.
The challenge is to discover ways to make those four activities work for you and that is where
The challenge is to discover ways to make those four activities work for you and that is where
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
t gets difficult because there are so many options and details associated with making them work. Dealing wi
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
th those options and details requires creativity, decisiveness, discipline, and courage.
It takes creativit
It takes creativit
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
y to conceive of a strategic plan from which a marketing plan is developed. It takes decisiveness to determ
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
ine the message(s) (brand, features and benefits, promotional timing). It takes discipline to implement the
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
plan and to focus on the big picture when seductive offers arrive that attempt to change your plans. It ta
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
es courage to follow through, measure effectiveness, and plan improvements for future activities.
Few small
Few small
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
companies invest the time and energy in extensive strategic planning or marketing planning but, if the comp
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
any’s goals are much greater than “let’s just continue doing things the way we have been doing them and hope
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
we’ll see increased business,” then planning is essential to making it happen.
Understanding that there ar
Understanding that there ar
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
e just four marketing activities will jump-start the planning process by discovering the parts of your marke
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
ing strategy that need to be improved. From there goals and budgets are established and action plans are co
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
nceived which places tasks on the calendar to accomplish. All of a sudden some order starts evolving from t
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
he complexity and projects start being formulated and implemented. It doesn’t happen over night, but the st
.
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
arting point is to simplify the process into the four marketing activities and make the process manageable i
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
nstead of seeing the whole thing as a complex, overwhelming maze filled with difficult decisions and options
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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