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There are two types of Interior Design firms: Those that truly specialize in a particular area (i.e. Kitchen and Bath designers) and firms that use a niche as a market strateg

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

y. Let’s focus on the latter, because if you are trying to create a message that appeals to anyone that may be interested in any form of Interior Design, you are spinning your

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

Examples of combination products may in

wheels and wasting your resources. The best way to gain awareness is by marketing through the strategy of developing your niche. The biggest objection most have to this idea i

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

s that they do not want to box themselves into a narrow offering. However, this is not the case when you use a niche to create awareness.

Let’s first look at 5 different stra

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

egies to develop a niche:
1) By Industry
There are dozens of industries that you can focus on to develop a market for your company. Here are only a few: Law offices,

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

Combination pro

medical offices, health care, hotels, restaurants, day care centers, yachts and much more.
2) By Product
Office Furniture, Kitchen Cabinets, Window Treatments, Colo

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

, Antiques, Artwork and Residential Furniture are just a few that fall under marketing with a product focus.
3) By Style
When you sell by style, you sell based on yo

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

ur own unique talent. Examples of style include: Modern, Traditional, Classic, Youthful, Tailored and Elegant.
4) By Demographic
You can target a certain group of th

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

market such as: Retiring Baby Boomers, Newly Divorced, and those relocating for their work.
5) By Solution
A clever way to finding your niche is through offering gr

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

eat solutions to common and difficult problems. You can specialize in: Solar Control, Motorization, Home Staging and offering Solutions to the Disabled.

Now let’s address

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

the objection of limiting your offerings and narrowing your market. I propose that you look at each of these niche opportunities as potential marketing strategies rather then

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

Following aspects would a

a narrow product offering. You can actually have several marketing strategies working at the same time. Your decision to choose any one of these niches is not a lifetime decis

dd to the challenges in developing combination products:

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

on. If you find that a particular niche is unsuccessful; you can cut your losses and focus on a new strategy. In fact, as you will soon see, you will want to rotate your niche

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

strategies in order to grow your business.

The idea of having a niche is to create awareness about your company, and awareness happens when you can create a story. It’s a fa

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

t that stories sell, just providing information does not. The beauty of working with niches is that you can create awareness on several fronts at the same time. It is a market

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

ing strategy, not a straight-jacket.

Let’s try putting together a few marketing strategies based on the above options. You can put together a campaign that appeals to the Ret

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

Professional from academic institutions, pharmaceutical industries, health care indust

ring Baby Boomers with a message about the importance of color in the home. You have a great demographic and a message about color that will create awareness about your compan

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

y. How about appealing to Realtors with the concept of Home Staging? This is a great way to network with Realtors, a great source of potential referrals. Even if you do spe

.

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

ialize, in lets say window treatments, you can generate awareness by taking advantage of the growing interest in smart homes.

As you can see, using a niche as a way to develo

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

Companies that provide selfless information through particip

p a market strategy is an effective way to bring awareness to the target market that you exist. Look at your strengths and find a strategy that will make the world take notice

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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