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Just Other Articles - Can a Small Business Be A Big Brand?
Do you think of your business as a brand? Because it is one, whether you view it that way o 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 r
not. Even if it's just you, a solo-professional, working out of your home. Even if your ; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug. Examples of combination products may in s is
a small local business marketing to customers in your own hometown. It's still a bra lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together. nd. The question is, is it a strong brand? Does it stand for something? Does it have an i here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe age? Does it create a perception in your prospects' and clients' minds? Either way again, d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations. Combination pro the answer to these questions is yes. But if you haven't taken steps to create your own bra 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 nd, your brand may not stand for what
YOU want it to stand for. Instead, you've left if up 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 your audience to create that meaning. I launched 10stepmarketing in January 2005. My b nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically and started with an idea. The idea that marketing doesn't have to be complicated. And
ever 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 ything that I've done in building my business over the last year and a half, from naming
t ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi he business, to getting a logo, to writing my tagline, to building my website, to creating m ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it. Following aspects would a y
products and services, to writing my blog have been focused on supporting that one centra dd to the challenges in developing combination products: Which markets to tap where the combination products can do fairly well? Which combination prod idea. It's all been focused on creating a brand that stands for simple, step-by-step marke cts are meaningful and rational? Which therapeutic categories to select? Which Combinations can address unmet needs of the patients? Do combin ting. Every decision I make, all the marketing I do, is focused on staying true to my brand tions increase the patient compliance? What would be the developing cost? How to tackle the risks encountered during combination product developmen . Because when someone comes to 10stepmarketing, I want it to be crystal clear to them what 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
it's all about. I've never let the fact that I am a company of one, or the fact I don't ping new procedures for reviewing their safety, efficacy and quality. Professional from academic institutions, pharmaceutical industries, health care indust ave a big
marketing budget stop me from focusing everyday on creating my brand. I encoura y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products ge you to take a look at your business. Have you created a strong brand? Or, have you just . 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 been doing business? It's never too late to start developing your brand. And when you do, elopment. They need to be wiser in analyzing the market trends and the regulatory requirements. Companies that provide selfless information through particip you might just be
surprised to find out that you're building your business at the same time 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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