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Marketing strategy is the primary key to business success. The No. 1 reason businesses fail is that they don’t make enough money. And the No. 1 reason they don’t make enough money is that they don’t adequately understand and practice effective marketing strategy. Marketing strate

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

gy offers these powerful benefits:

- Concentrating your resources and efforts on your greatest opportunities for success
- Sharpening your competitive advantage so that your business is superior to your competitors’ in ways that matter to customers
- Increasing the inc

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

Examples of combination products may in

ome of the firm more effectively than any other way
- Uniting the leadership team to all pull in the same direction, maximizing positive results
- Giving your brand a clearer focus so that it will be better known in the marketplace
- Stimulating demand for your pro

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

ucts and services
- Improving the effectiveness of messages you send to customers and prospects
- Strengthening your ability to understand and meet the needs of customers
- Ensuring that your business will survive and thrive far into the future

“Marketing 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

tegy” is one of the top-10 search terms related to marketing, used by Internet searchers about a half-million times a month. Many people are obviously interested in learning more about marketing strategy. That’s why this article has been written, the first in a series that explai

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

Combination pro

marketing strategy in detail. The author, Buck Lawrimore, has provided marketing strategy to hundreds of business, government and nonprofit organizations of all sizes for more than 27 years.

Definitions of Marketing

“Marketing” comes from the Latin word merx or mercis meaning

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

merchandise. Originally a market was a large open space where merchandise was displayed for sale, like pictures we’ve seen of large open marketplaces in Third World countries, or today’s farmer’s market. Originally “marketing” involved selling products in a marketplace. And that’

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

still the core meaning. But professional marketing has evolved to such a high degree of sophistication, like computer science and medicine, that it involves much more than just selling in a marketplace.

The American Marketing Association, the largest professional organization o

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

f marketers in the U.S., defines marketing as follows:

“Marketing is an organizational function and a set of processes for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders

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

”

This definition makes no mention of generating sales and income, the primary aims of business marketing, perhaps in deference to the many nonprofit organizations which are members of the AMA and are more focused on “delivering value” and “managing customer relationships.”

Ano

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

ther way to understand marketing is to view it as a mindset or orientation of the business or organization. The so-called marketing orientation means the organization as a whole is oriented to understanding and meeting the needs of customers. A company with this orientation is ma

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

Following aspects would a

rket-driven. It focuses its strategy and operations on understanding and meeting the needs of customers in a manner which is superior to competitors. Procter & Gamble is one of the largest and most successful companies in America, and it has a strong marketing orientation. SAS Ai

dd to the challenges in developing combination products:

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

lines, FedEx and other leading companies around the world have a passion for understanding and meeting the needs of customers. That’s how they became so successful, and that’s how your organization can become more successful than ever before, whether you aim to be a world leader

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

or just the best in your neighborhood at what you do.

Definitions of Strategy

“Strategy” comes from the Greek word strategos meaning general. Strategy defined by Webster’s as “1 The science of planning and conducting military campaigns on a broad scale.” More recently strategy

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

as come to mean “skill in management” or “an ingenious plan or method.”

There are two aspects or connotations to this idea of strategy. The first is, it’s big picture. It involves consideration of all your available resources – people, money, time, physical resources etc. “on a

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

broad scale.” The second is, strategy involves winning some form of competition. Your opponent may be an enemy who is trying to defeat you, or a business competitor who is trying to get your customers to buy from them instead of from you, or an opposing athletic team in a sports

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

Professional from academic institutions, pharmaceutical industries, health care indust

vent. In all these situations as well as your own real world, there is one key to all effective strategy. This is one of the most important things for you to learn from this book:

The key to all effective strategy is concentrating your resources on your greatest opportunities,

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

where your competition is weak.

Definition of Marketing Strategy

So then, effective marketing strategy could be summed up this way:

“Concentrating the organization’s resources on its greatest opportunities to better meet customer needs, outperform competitors, increase

.

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

income, and achieve enduring success.”

Implied in this practical definition is the key idea that you have or will develop a niche or position in the marketplace which you can dominate or at least be a top player in, by building on strengths which distinguish you from your compe

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

Companies that provide selfless information through particip

tition. Also implied is that you will be most successful if you concentrate on better meeting customer needs (via the marketing orientation) as a path to increasing sales, rather than just focusing on outbound communications or a sales force to persuade potential customers to buy

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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Every field is highly competitive nowadays. A new entrant in the business world finds it very difficult to face the heat. This article helps you to learn the art of getting a winning edge.

This article describes some strategies to face one of the biggest problems most would-be entrepreneurs face - fear. Here are some practical helps to overcome.

Some of these ideas are more traditional, such as yellow pages advertising and classified ads. Of course that doesn’t mean they should be neglected.

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