Main Subject - Business

During my almost two-decade career in strategic marketing I’ve seen numerous marketing cases involving different products and services. A common element in all successful marketi

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

ng stories has been an organized and effective marketing plan, which serves as the backbone for the product or service life cycle.

A marketing plan should be a reference for all

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

individuals involved with the project, including both employees and contractors. It should contain the core elements that keep launch and implementation in sync with the strateg

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

y. Obviously, it is not a static document. Revisions should be made at a minimum on a quarterly basis to incorporate the key learning during the process.

Start with a good resea

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

rch plan for what we call the “OVERVIEW”. Include trends and key changes in the macro environment, from the economic and social aspects affecting your audience to important indus

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

ry information. Find useful estimates and forecasts that will help you make decisions. Next, compile key information about the audience you want to reach: gender, average age and

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

income, geography, preferences, decision and purchasing process, etc. Your entire team should be familiar with the details of your target clients.

The analysis of the competiti

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

ve environment, “SWOT”, should be worked subsequently. At this time, investigate all public information available about your top competitors, and get a clear understanding of the

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

ir Strengths and Weaknesses. With this information in hand you will be able to compare and elaborate on your Threats and Opportunities. You want this section to be clear and obje

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

ctive, with straight bullet point lists.

The next step is your numeric “TARGETS”. Include in this page your target revenue and transaction volume for the year, and broken down b

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

quarter, especially if your product involves seasonal variances. If possible, also break it down by distribution channel such as online, in store, through intermediaries, etc. M

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

ake a comparative chart with columns for the previous year and the year in question.

After completing the research you are ready to develop the “KEY OBJECTIVES”. Use this opport

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

unity to think through the macro course of actions that will lead your company to reach your numeric targets. Maybe you want to nurture differentiation through superior services,

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

increase online sales in the channel mix, or enlarge your geographic coverage. List a minimum of three but no more than six or seven key objectives for the year, which should be

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

aggressive but achievable.

The “STRATEGIES AND ACTIVITIES IN SUPPORT” are the means to realize your objectives. Start with the “communications message”, the sentiment you want

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

ssociated with your brand. This should be reflected in all points of contact with customers. Brainstorm with your team and consolidate it in a single powerful message, related to

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

your objectives. Then, develop the “key strategies”, supported by tactics and programs to execute them. Picture it as an umbrella:

Main Objectives:

-Key Message related to the

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

Objectives

-Key Strategy 1 to achieve the Objectives:

Tactics and Programs to execute Key Strategy 1

-Key Strategy 2 to achieve the Objectives:

Tactics and Programs to execu

.

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

te Key Strategy 2

As you work through your six or seven strategies, keep in mind the resources and marketing funds available. Finish your plan with a detailed “BUDGET” chart, br

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

eaking it down by activities and costs.

These are the basics of an effective marketing plan. Make sure you involve your team through the process; it is a very rewarding exercise

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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If you aren’t as profitable as you’d like to be in your business, take a look at your customer base and identify your angels and devils. Learn to develop marketing strategies that encourage angels to work with you and encourage devils to go somewhere else. Reading this article will give you clear insight on how and why you’ll want to identify the customers you want to work with most.

Modern banks have highly trained staff for delivering top quality service to customers. Other financial institutions like insurance companies now offer most of the services provided by banks. Owing to this intense competition, banks need top quality staff that is talented, reliable, trustworthy, and communicative. Many banking jobs are in specialist areas such as IT and corporate banking.

People are not merely motivated by money. Sabeer Bhatia of Hotmail has demonstrated that his people are prepared to work for him even though there are many uncertainties during its start-up. They stuck with him because Sabeer gave them a cause.

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