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Just Other Articles - A Smart Marketing System
Some people think of marketing as advertising and promotional specials. Others see marketing as high-level
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
planning and strategy. So, to get started, let's talk briefly about what marketing is.
When I talk about “
When I talk about “
; 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
marketing”, I am referring to any and all activities that help you plan and deliver your message to your au
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
dience. Marketing is what helps your potential customer understand who you are, what you do, what you might
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
be able to do for them and why they should consider doing business with you.
Marketing is about understand
Marketing is about understand
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
ing why you are in business. It's about knowing what your strengths are and how you are better than your co
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
mpetitors. It helps you determine what you can do for people (your customers). Marketing helps you discover
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
who needs and wants what you can do and who will place a high value on what you do. It helps you create a
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
essage that these people will respond to so they take the first step toward becoming your customer or clien
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
t. Finally, marketing helps you deliver your message effectively to your potential customers, within your b
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
udget, so you meet or exceed your goals.
Marketing goes to the very heart of your organization because it'
Marketing goes to the very heart of your organization because it'
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
s all about why your organization exists.
The Smart Marketing System is a series of five steps that all ma
The Smart Marketing System is a series of five steps that all ma
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
keting plans and campaigns should include. It gives you a conceptual framework to help you get better resul
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
ts from all your marketing.
Here is our five-step Smart Marketing System:
A. Understand your GOALS or the
Here is our five-step Smart Marketing System:
A. Understand your GOALS or 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
objectives you want to accomplish.
B. Know the MARKET you want to reach based on what you can do for
B. Know the MARKET you want to reach based on what you can do for
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
them.
C. Create a MESSAGE to deliver to your market that they will respond to.
D. Commit MONEY to
C. Create a MESSAGE to deliver to your market that they will respond to.
D. Commit MONEY to
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
spend to deliver your message to your market.
E. Select the MEDIA you will use to deliver your message
E. Select the MEDIA you will use to deliver your message
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
effectively and within your budget.
By doing this you'll find you are able to get better results from you
By doing this you'll find you are able to get better results from you
.
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 marketing without necessarily spending more money. You will learn to increase revenue and profits. Your b
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
usiness will become healthier, more valuable and more fun.
You'll become a practitioner of Smart Marketing
You'll become a practitioner of Smart Marketing
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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