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Write a marketing plan in five easy steps. Give yourself and your business an edge over your competitors. Reduce your marketing and advertising budgets by delivering targetted leads fo

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 your sales team.

If you want to succeed in any type of business then the business needs to be marketed to its target consumers in an effective manner. In order to do this effectivel

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

Examples of combination products may in

y rather than in an ad hoc, probably expensive, manner I propose the construction of a marketing plan. Writing a marketing plan is something you can do yourself quite simply, but it

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

will need some time for research and thought if it is to be worthwhile and achieve results.

So, have read this far and not run away yet you will be wondering how to write a marketing

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

lan. I see it as a very simple 5 step process as follows:

1) Get your information together and analyze it.

Find out all you can about the industry you are in, its sales channels, ant

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

Combination pro

icipated growth, products etc. Look at who your competitors are, who you expect your customers to be and your wholesalers. Look at pricing, distribution channels and product ranges.

N

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

ext complete some SWOT analyses. This is a simple analysis of your Strengths, Weaknesses, Opportunities and Threats which will be of great help in clarifying your thoughts and putting

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

them and the information into some order.

2) Write down your main challenges.

The SWOT analysis should have helped you to see what they are e.g. one of my weaknesses is in how to dri

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

e traffic to my website. After all we need site visitors in order to sell to them.

3) Decide your objectives

following on from the example above I have decided to set an objective fo

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

r myself of increasing awareness of my website. Increased awareness should in turn lead to more visitors.

4) Devise strategies

Strategies need to support the objectives you have set

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

yourself and define the approaches you will take to achieve the objectives set earlier. It is sometimes useful to brainstorm ideas with a few friends at this time as you can bounce ide

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

Following aspects would a

as off each other but if you are on your own don't worry just write down all of your ideas on a large sheet of paper Following on from our example I decide that one of my strategies sh

dd to the challenges in developing combination products:

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

uld be to communicate the existence of the site to my existing customers.

5) Select your tactics

this is where the action is. You should now have some firm ideas in your mind and on

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

paper as to what your objectives and strategies should be. You should now be thinking in more practical terms as to what you can do to achieve those goals. You may also need to think a

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

t this point about any costs involved with some of your ideas. Set yourself a budget to spend on marketing your site. This is not the time to penny pinch. You have already invested a g

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

reat deal of time and money into setting up your site and that money will be wasted if you expect people to simply queue up just because it is there. The web is huge and yours is just

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

Professional from academic institutions, pharmaceutical industries, health care indust

ne site among millions and is unlikely to be stumbled across by chance. Few of us have the marketing budget of MacDonald’s but a few well spent pounds on targeted marketing in the righ

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

t areas will reap dividends.

So that’s it. How to develop and write a simple marketing plan. One final thing though. Treat your plan as a continuing, living document. Revisit it regul

.

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

arly, update it and change it as your goals change. If you treat your marketing plan as something to work with then it will become a time and money saver for your business.

So that’s

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

Companies that provide selfless information through particip

it. How to develop a simple marketing plan. One final thing though. Treat your plan as a continuing, living document. Revisit it regularly, update it and change it as your goals change

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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