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Everybody seems to know Marketing. The world is full of Marketing gurus. We all talk about with a remarkable ease and confidence, though most of the times we

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

are not Marketing professionals and not even close. What are the most frequent mistakes in understanding Marketing practices and theories?

1. Defining Mar

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

eting There is clearly a general tendency in employing the notion of Marketing within a confusing mix of Public Relations, Advertising, or Media Planning

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

Regardless of the degree in evolution and growing of Marketing, many of us still cannot understand what Marketing really is and only see the its extreme mani

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

estations. Many believe Marketing is a useless, fancy field, eating up budgets and giving little in return. Others see Marketing as an artistic field, where a

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

l you need is creativity to develop a memorable ad.

2. Marketing is still confused with Communication This common mistake is, again, the result of su

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

ficient understanding of Marketing. Marketing professionals are often thought to be responsible for creating advertisements, logos, slogans. What people usual

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

y see is the mere top of the iceberg, forgetting that there is a product, a price and a distribution strategy to be developed before even thinking of advertis

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

ng.

3. Under- or overestimating the role of the marketer On one hand, the marketer is often seen as a must-have within a company, but (s)he has an in

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

efinite role and ends up doing a little of everything (Marketing, Advertising, Public Relations, Customer Care, Account Management etc.) On the other hand we

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

ight be faced with the other extreme, where the marketer is an omniscient, all-powerful creature eclipsing everyone else.

4. Segmentation In spite of

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

the abundance in resources and consulting services aimed at researching the consumers base, segmentation is still done intuitively at least at small-business

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

level. Large companies might have whole departments assigned to work on segmentation research and strategy, and still not be fully failure-proof.

5. Marke

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

ing for the sake of it This is an attitude I have met in too many occasions not to mention it. People (and again, small-business owners are the usual cul

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

rits) do marketing because everyone else does it, because they heard they should do it, because it is a fashionable thing to do.

Surely, the list above is no

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

exhaustive, and it only points at several attitudes leading nowhere on the Marketing battlefield. Marketing is surely not an art, thought it does employ a c

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

rtain flaire and creativity. Marketing is not a science either, but it operates with precise instruments. Marketing is not for everyone and not to be performe

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

regardless of the conjuncture around the business.

We should keep in mind that Marketing operations have a clear objective: increasing the profitability of

.

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

business. To bring money, to be more clear. Marketing is therefore just as important as everything else in the company: if a product has functional faults we

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

would blame the production department, but when a product does not sell for reasons beyond production it is usually the Marketing department to take the blame

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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Before making some high and lofty plunge into a career you know nothing about you might want to consider a few things and make sure your desire to be an accountant is strong enough to pull you through the commitment that's needed.

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