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Just Other Articles - Steal From The Market Leader
Outsmart Them
Category benefits are a poor substitute for brand meaning and brand definition. It is one of the major pratfalls in brand development and a trap into which many brands fall victim. Defining your brand by such benign promises is a s
Category benefits are a poor substitute for brand meaning and brand definition. It is one of the major pratfalls in brand development and a trap into which many brands fall victim. Defining your brand by such benign promises is a s
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
ure fire bet to promote the market leader — not exactly what you have in mind when your goal is to grab market share and outsmart your competition.
Look around at the market today and you can see these “benign brands” wallowing in brand failure and falling back on
Look around at the market today and you can see these “benign brands” wallowing in brand failure and falling back on
; 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
big budget ad spends to steal share. In banking, a service industry, you hear such benign brand claims as friendly, trustworthy, professional, and convenience (read: Lot’s of ATMs). Hotels promise comfortable beds and more space to “stretch out”. Supermarkets pr
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
omise fresh food and great prices; mutual funds promise expertise and perspective, logistics providers promise on-time delivery, and pharmaceuticals promise efficacy.
A Cunning Plot
It is almost a conspiracy. As a market leader, I would want my
A Cunning Plot
It is almost a conspiracy. As a market leader, I would want my
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
competitors to squabble over minimum category benefits. After all, if every hotel chain promises comfortable beds and fair prices who is poised to take Marriott by the throat and beat them at their own game?
If every tropical destination promises blue water, palm
If every tropical destination promises blue water, palm
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
trees, nightlife, and interesting culture — who is poised to take share from the Bahamas? Unless I am mistaken, the Bahamas have blue water, palm trees, nightlife and interesting culture. No wonder “It’s better in the Bahamas” works. They have usurped the categ
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
ory benefits and have successfully positioned themselves against the rest of the pack.
Think Differently
The reason for the lack of brand identity in our world today is a direct result of brand managers and marketers confusing brand equity with p
Think Differently
The reason for the lack of brand identity in our world today is a direct result of brand managers and marketers confusing brand equity with p
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
roduct benefit. As long as you define your brand with efficacy and category descriptors you will never steal market share. You need to think differently.
Your brand is how your customer makes sense of the choices that bombard them. At its root benefit (from your
Your brand is how your customer makes sense of the choices that bombard them. At its root benefit (from your
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
customer’s perspective — the outside-in perspective) the value of brand is to make life simpler; to aid your customers in making choices and to better identify the choices that will personally satiate them. From a marketer’s perspective (the inside-out perspectiv
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
e), the value of brand is to create preference and to elevate (increase) margins. I don’t think anyone would argue with these assessments.
The latter is a no-brainer; it is why we invest in building brands, but the former deserves a closer look because all brands
The latter is a no-brainer; it is why we invest in building brands, but the former deserves a closer look because all brands
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
must find their power in the acceptance of the target audience that they are designed to influence. What does it mean when your customer hopes that brands “make life simpler for them, aid them in making choices and to better identify the choices that will personal
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
ly satiate them” (read —The Information Age Is A Dangerous Myth)?
Simple Wins Everyday
Simplification and ease of use is by no means a modern phenomenon but in an increasingly complex world, your customer does not desire complexity. In general,
Simple Wins Everyday
Simplification and ease of use is by no means a modern phenomenon but in an increasingly complex world, your customer does not desire complexity. In general,
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
the brand that makes it easier for them will win. This is both simplicity in brand promise and the resulting mandatory simplicity in process.
Often we (at Stealing Share) rail against market segmentation. This is because most of the segmentation is based on an i
Often we (at Stealing Share) rail against market segmentation. This is because most of the segmentation is based on an i
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
nside-out perspective and on misleading research that pretends to understand customer usage and attitudes. These so called studies are excellent when shedding light on product usage but fail miserably when used as segmenting indicators. These studies have given r
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
ise to such exciting category offerings as Arch Deluxe burgers and Laser Disks. After all, market segmentation studies clearly indicated that adults wanted a “grown-up” burger from McDonalds and movie buffs wanted an LP sized disk that cost $100.
Segment
Segment
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
To Your Advantage
Real segmentation is based on a clear understanding of the precepts (beliefs) of your target audience. You need to segment the market by what your customer believes to be the immutable laws that define who they believe they are. If, fro
Real segmentation is based on a clear understanding of the precepts (beliefs) of your target audience. You need to segment the market by what your customer believes to be the immutable laws that define who they believe they are. If, fro
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
m the perspective of your customer, brands exist to make life simpler for them, than it is no stretch to see that your most coveted customer wants to make purchase decisions with the least amount of information needed to make the decision. Anything more than that
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
is not overkill… it is complexity. What they seek is a brand that tells them that people like “them” choose it.
When we look at some of the biggest ad spend categories, it always amazes us how much money is spent on those undifferentiating category benefits. Loo
When we look at some of the biggest ad spend categories, it always amazes us how much money is spent on those undifferentiating category benefits. Loo
.
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
k at beer. What the brands sell is taste, refreshment, and fun. Yet everyone knows that to be a BEER, you had better taste good, be refreshing, lead to good times and be COLD (are you listening Coors?).
This market noise makes a real brand like Corona stand out
This market noise makes a real brand like Corona stand out
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
. None of the sophomoric humor or machismo is found in their brand messaging. No, their brand assumes we KNOW all the category benefits… after all, Corona is a BEER. No — Corona tells us that their beer is for kicking back and relaxing. Now that is a real brand
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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