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Digg It - Marketing Success - Marketing Strategy - Brand Identity Guru
Marketing message x Credibility x Visibility = Marketing Success These three variables, when working positively togethe 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, create success. Period. But determining how to get those variables to work together is the trick. Your marketing mes ; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug. Examples of combination products may in age isn’t a static entity. It can have a high or low impact on your customers. There are numerous factors at work. Often lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together. times, it’s your message that needs tweaking. Fortunately, making changes to your message is easy and very cost-effecti here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe e. For instance: you may already have a website. Simply changing the headline on the home page can make a big difference d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations. Combination pro Improving your credibility is a little more elusive. Genuine credibility is earned over time through word-of-mouth, ac 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 tual customer experience and subjective judgment. However, good writing and design in your marketing materials can do wo 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 ders for establishing and maintaining credibility. It reiterates that you are a quality company through the subtle state nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically ent of the quality of your communications. Lastly, visibility is how many people will see your message. Fact is you cou 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 ld have a great message and credibility, but if few people see you or know you, what good is it? It’s highly important ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi o have all three variables working positively for you at the same time. If you’re doing well on two and badly on one, yo ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it. Following aspects would a r marketing efforts are spinning their wheels. To determine if your marketing is currently running well, take this test dd to the challenges in developing combination products: Which markets to tap where the combination products can do fairly well? Which combination prod : Marketing message: Do people understand it right away? Does it evoke a “that’s for me” response? Can your clients and cts are meaningful and rational? Which therapeutic categories to select? Which Combinations can address unmet needs of the patients? Do combin others explain your marketing message? Is your message on every single piece of marketing from website to business card? tions increase the patient compliance? What would be the developing cost? How to tackle the risks encountered during combination product developmen Score (1-10) _____ Credibility: Is your work consistently satisfying to your clients? Do you get word-of-mouth business 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 ? Is your website chocked full of useful information on you and your services? Is your brand image and marketing literat ping new procedures for reviewing their safety, efficacy and quality. Professional from academic institutions, pharmaceutical industries, health care indust re professional looking? Total Score (1-10) _____ Visibility: Are you an active networker? Do you have regular meetings y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products with your main contacts? Do you speak at professional associations and conferences? Do write articles to be published on . 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 line and off regularly? Do you have a regular newsletter or email newsletter? Total Score (1-10) _____ Now multiply you elopment. They need to be wiser in analyzing the market trends and the regulatory requirements. Companies that provide selfless information through particip answers. That’s your marketing success score. Your marketing success score is an easy gauge to determine where you are 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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