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Just Other Articles - Minding Your Own Brand - Why Did The Relationship End?
Recently a number of couples I know are getting a divorce. One relationship ended because one of them found someone who met their nee
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
ds more than their spouse did and another marriage is ending due to lack of passion. A third couple is calling it quits not because o
; 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
f one particular issue, but instead because of a building up of many little things that went unresolved and turned into one big probl
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
em. In each case, one of the partners in the relationship didn’t realize that things were that bad until it was too late and the rela
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
tionship was beyond repair.
After thinking about these failed relationships, I realized that this is often the same situations that
After thinking about these failed relationships, I realized that this is often the same situations that
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
happen in business everyday. Customers sever ties with companies leaving owners scratching their heads wondering “what happened, I th
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
ought they liked us.”
Each day, customers are leaving relationships with companies at rates that rival the national divorce rate. So
Each day, customers are leaving relationships with companies at rates that rival the national divorce rate. So
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
what can companies learn from these divorcing couples that will help them retain customers?
Like the first couple, many companies f
Like the first couple, many companies f
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
eel they lose customers because someone better comes along. They think that with cheaper prices, more selection, or bigger advertisin
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
g budgets, how can they compete? While on the surface this may be true, a customer’s decision was probably not a snap one. Over time,
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
the company failed to meet their needs one little thing at a time. Then “pool boy” came along and the customer fell deeply in love wi
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
th this new company because it promised to fulfill every need and had cheaper prices, more selection, and better advertising.
The se
The se
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
cond couple’s problems centered on passion. Passion is critical for customer retention, but that passion is not one-sided. Companies
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
must also have a passion for their customers. They must appreciate them and strive to provide an extraordinary experience which fuels
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
passion or else customers will leave for a younger, sexier company that ignites their passion.
Finally, the third couple offers a v
Finally, the third couple offers a v
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
aluable lesson. Little issues that go unresolved can add up to big problems. Everything you say and do creates the customer experienc
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
e, so be proactive and try to solve issues before they arise. Even proactive companies can’t always be perfect, but they can offer ex
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
traordinary experiences when they aren’t. If you mess-up, admit it and make the resolution of the issue an extraordinary experience.
.
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
A problem moment can often be the best opportunity to “wow” a customer and gain them as a passionate advocate.
So work on your relat
So work on your relat
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
ionships each day and make every interaction extraordinary. If you don’t, you may wake up one day to customers asking you for divorce
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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