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Main Subject - What's Your NICHE Market?
Knowing your NICHE MARKET and where to find your NICHE is more important than the product yo
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
u sell.
Most Netpreneurs take a narrow view of NICHE MARKETING as a limitation on their bus
Most Netpreneurs take a narrow view of NICHE MARKETING as a limitation on their bus
; 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
iness, when in fact it is the POWER that provides longevity to their business.
The biggest
The biggest
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
istake most new netpreneurs make online is that they have no idea where, or what, there NICH
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
E MARKET is and therefore, sell their product to everyone and anyone and in the end sell to
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
o one.
A common misconception is that – if you build it they will come. The truth is you ha
A common misconception is that – if you build it they will come. The truth is you ha
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
ve to find your NICHE and get them to come to your site.
In talking to new netpreneurs the
In talking to new netpreneurs the
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
irst question I ask is who are you selling to? The almost instantaneous reply and always the
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
same answer is: ‘everyone and anyone’.
The next successions of questions I then ask are:
The next successions of questions I then ask are:
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
ul>
what type of product are you selling
who would use your product
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
>What problem does your product solve
Is your product distributed easily
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
>Who would benefit from using your product
Simple questions, but not so easy fo
Simple questions, but not so easy fo
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
many netpreneurs to answer. If you take some time and answer these very straight forward qu
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
estions you will find that by defining your NICHE you will be better equip to go straight to
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
the source, than taking a stab in the dark and hoping it will all work out.
You will also f
You will also f
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
ind that by defining your NICHE MARKET you will:
- Help define your Interne Marketi
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
g Strategy
Develop products/services that appeal to your NICHE
Set yours
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
elf up as an industry leader
Optimise your site for search engines so your NICHE c
.
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
n find you easily
Maximise your marketing budget where it counts.
Onc
Onc
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
e again I ask you: WHAT’S YOUR INTERNET NICHE MARKET?
The truth can be found in your answer
The truth can be found in your answer
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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