Main Subject - Business

A marketing plan is a highly researched, well-written document which details all marketing actions necessary to achieve business objectives. It

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

could be for a product, service, brand or a product line. From time to time, you need to stand back and see if your plan is working, and whether

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

Examples of combination products may in

your day to day activities are aligned with it.

So let us begin with the basics of writing a marketing plan:

1. Title page – This must includ

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

e the name of your company and the management team which is instrumental in developing strategies.

2. Executive summary – This is a quick overv

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

iew of the main points in your plan. Although the summary comes first, it is best written last. This will ensure that you have not overlooked so

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

Combination pro

mething and that your plan makes sense.

3. Current situation – Here, you need to analyze both the macro environment as well as the current mark

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

et situation. The macro environment analysis will give you an insight into the economy, and larger legal and technical aspects that can impact y

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

our business. The current market situation will throw light on the potential market segment, competitor landscape, industry structure etc.

4. C

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

onsumer behavior – Present an analysis of your customers’ demographic profile and buying habits, talk about key motivators, loyalty segments and

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

similar issues.

5. Company analysis – This is your chance to do some blah blah on your company. Just kidding! Analyze the internal situation o

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

the company in terms of its vision and mission, long-term business objectives, short term goals, resource position etc. This is also an appropr

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

Following aspects would a

iate place to do a thorough SWOT (Strengths, Weaknesses, Opportunities and Threats) analysis. This will help you identify the sustainable compet

dd to the challenges in developing combination products:

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

itive advantages of your company, and also understand the key success factors for your business.

6. Market research – This chapter describes th

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

e process of data collection, method of analysis and key findings.

7. Marketing strategy – Step 1 - discuss product mix, product life cycle man

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

agement, brand name, brand image etc. Step 2 - analyze market share by products, customer segments and geography Step 3 - it’s all about money,

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

honey! this is where you talk pricing strategy Step 4 - share your advertising and promotion plans Step 5 - put down your ideas about how you w

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

Professional from academic institutions, pharmaceutical industries, health care indust

ill distribute our product.

8. Implementation – discuss the nitty-gritty out here. Chart out resource requirements, key deliverables, time fram

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

e and other issues related to implementation.

9. Financial summaries – include projections of income, break-even analysis, and payback period.

.

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

List assumptions clearly.

10. Outlook – this contains predictions for the future and plans of action for alternative scenarios, if any.

11. Ap

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

Companies that provide selfless information through particip

pendix – include all supporting material, tables and data.

Finally, we’ll leave you with a thought - if you fail to plan, then you plan to fail

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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