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Just Other Articles - Integrity and Marketing - Finding the Right Balance
When marketing themselves to leads and prospects there are five common mistakes people mak
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
e, all which can be easily avoided by finding the right balance to maintain your personal
; 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
nd professional integrity in all pursuits.
Five common mistakes many people make are;
1.
Five common mistakes many people make are;
1.
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
Talking too much.
Enthusiasm sells! But don't talk too much about yourself - focus on you
Enthusiasm sells! But don't talk too much about yourself - focus on you
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
prospects needs and wants and how you can solve their problems.
2. Not listening.
All g
2. Not listening.
All g
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
od marketers have exceptional listening skills. Be an active not a passive listener. Ask p
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
lenty of questions to find out what problems your client has so you can provide a solution
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
3. Hard sell.
Even in desperate times always avoid a hard sell approach. Ignoring the n
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
eds of the client or your own company can have long term effects and result in the loss of
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
potential work both immediately and in the future.
Always market the benefits - the "What
Always market the benefits - the "What
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
s In It for ME" approach really does work and is better than purely focusing on selling th
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
e features.
4. Lack of clarity.
It is a competitive market out there and you need to foc
4. Lack of clarity.
It is a competitive market out there and you need to foc
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
s on your UNIQUE SELLING PROPOSITION. What is it that makes you, your service or product u
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
ique and
different from others? Once you have identified this you have your strongest sel
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
ing point, and the focus of your marketing campaigns.
5. Distractions.
Life is really bu
5. Distractions.
Life is really bu
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
y. Some people are too busy and easily distracted from the main game.
Learn as much as yo
Learn as much as yo
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
u can about setting goals, writing them down and working out on a daily basis the importan
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
tasks to do. It's called time and priority management and is a hallmark of successful peo
.
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
le. Remember the "3 D's - Do It, Dump It or Delegate It" and if your life or your job depe
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
ds on it - then it is a Must-do "A" priority, the rest can wait. Focus is a powerful thing
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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