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Just Other Articles - Are You Suffering From Wide Net Syndrome?
Early on in my marketing career, I was a media buyer in an advertising agency. And I remember when I used
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
to buy radio air time, we would
always buy specific demographic groups.
One demographic group that was f
always buy specific demographic groups.
One demographic group that was f
; 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
airly common was "Adults aged 25-54 years old."
Now, I didn't know nearly as much about marketing back th
Now, I didn't know nearly as much about marketing back th
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
en ...
But even as a twenty-something-year-old, this did not make very much sense to me.
Why?
Because a
But even as a twenty-something-year-old, this did not make very much sense to me.
Why?
Because a
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
t the time, both my father and I fit into this category.
I was on the very young end and he was on the ol
I was on the very young end and he was on the ol
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
der end, but we BOTH fit into this demographic group.
I remember mentioning this to one of my radio sales
I remember mentioning this to one of my radio sales
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
reps.
I pointed out how very different I was from my father and asked how we could possibly be lumped in
I pointed out how very different I was from my father and asked how we could possibly be lumped in
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
to the same target group for marketing purposes.
Not only were our tastes in music and radio listening ha
Not only were our tastes in music and radio listening ha
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
bits completely opposite, but our lifestyles were different, our buying habits were different, you name it
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
... it was different!
Just think for a minute about your father and I think you'll get the picture.
Thi
Just think for a minute about your father and I think you'll get the picture.
Thi
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
s is just one example of Wide Net Syndrome.
And it is a fairly common problem among small business owners
And it is a fairly common problem among small business owners
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
.
It's when they don't clearly define who their ideal clients are.
They may not pick a group like Adults
It's when they don't clearly define who their ideal clients are.
They may not pick a group like Adults
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
aged 25 to 54, but they do pick groups like 'business people,' 'women' or 'overweight adults.'
When you
When you
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
pick such a broad group, it's really tough to get a clear picture of who you are talking to.
I think the
I think the
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
reason so many people suffer from Wide Net Syndrome is because they mistakenly think that if they put thei
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
r business out there in front of a large enough group of people, someone is bound to bite.
But what reall
But what reall
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
y happens is, NO ONE bites because they just don't relate to your marketing.
You're not speaking TO them.
You're not speaking TO them.
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
Your challenge this week
I encourage you to narrow your net. Pick a specific group of people to go afte
.
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
r. A group you can get to know and understand very well.
This will allow you to speak directly to them an
This will allow you to speak directly to them an
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
d their concerns in your marketing.
Do this and I think you'll be amazed at what happens to your results.
Do this and I think you'll be amazed at what happens to your results.
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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