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Main Subject - Market Research - Moving Beyond the Calculator (and a Case for Credibility Branding)
So what the heck is credibility branding is. The “definition” is; creating and leveraging the point of credibility within and outside the company to accelerate the speed of sales. Credibility brandin
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
g is really charged with changing the bottom line culture of a company and part of that is a different way of thinking. Part of what credibility branding does, is offer tools and models to adjust the
; 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
perspective of your organization. It simply allows you to think about things in a different way. Credibility Branding services also offers new research models, one simple example of this is examini
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
ng editorial content.
Do you know how many companies do not research what the editorial community is saying? Companies do great research on the financial aspects of the marketplace, which is really
Do you know how many companies do not research what the editorial community is saying? Companies do great research on the financial aspects of the marketplace, which is really
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
mportant and has to be done; on the feature set of their product and comparison to their competition, which is really important and has to be done; and they completely forget positioning. The positio
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
ning piece is perception, and perception is reality. If you are not creating a perception that matches the market opportunity, you are not going to win anyone over, including the editorial community.
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
Publications, bloggers, broadcasting outlets; the content generated by these companies and individuals is a goldmine in perspective and perception. Publications only make money if there is circulat
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
on and a readership. Why you should care about that? Well, they are delivering content that readers care about. They are the barometer regarding what is important to your customer. So by reading and
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
reviewing this content you can shortcut a lot of high end market research, it is right in front of your nose. Talking to editors and analyst is another way to glean this info. They speak with your
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
competitors and your customers, they have a unique understanding. Have a conversation with them; you might not have to reinvent the positioning wheel.
Research beyond the features and finances might
Research beyond the features and finances might
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
also include examining competitor's positioning clues. Review the web site, press releases, sales materials, editorial coverage, speaking opps, awards etc. By reviewing these materials in the public
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
domain you will gain unique insights regarding your competitors positioning. Here are some other questions to ask while reviewing this material:
• How are your competitors positioning themselves in
• How are your competitors positioning themselves in
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
press releases?
o How is the editorial community embracing that positioning?
• Are they getting influencers on board?
o Who are these influencers?
o What are they saying abou
o How is the editorial community embracing that positioning?
• Are they getting influencers on board?
o Who are these influencers?
o What are they saying abou
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
t them and the market?
• What are their speeches about and where are they speaking?
o How does that differ from what you are doing?
• Who do they appear to be directing their message
• What are their speeches about and where are they speaking?
o How does that differ from what you are doing?
• Who do they appear to be directing their message
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
to?
o Is it middle management, is it end user customers, is it C-Level executives, is it the channel?
Doing this kind of research beyond the traditional linear approach, and looking at the mess
o Is it middle management, is it end user customers, is it C-Level executives, is it the channel?
Doing this kind of research beyond the traditional linear approach, and looking at the mess
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
aging and positioning opportunities available is an important process that is often missed. Consultancies like mine can take on this type of project. It is one of those things that is difficult to en
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
force internally; while it is very important it often takes a back burn to what appears to be more immediate. The credibility branding system would take this research to the next level and perform a
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
erception audit. Researching the content is just one piece of it, interviewing key constituents directly gleans the most relevant information about your company, its business practices, the market op
.
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
portunities, as well as positioning.
Understanding the messaging and positioning opportunities allow companies to focus on the influencers that are going to match that. Leveraging these influencers,
Understanding the messaging and positioning opportunities allow companies to focus on the influencers that are going to match that. Leveraging these influencers,
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
who already have established market credibility, ensures instant recognition and your own improved credibility in the marketplace. Improved credibility empowers your customers to get on board faster
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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