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Digg It - Branding Your Business - Questions and Answers
What is a brand? Can you define it?
A brand is a name of a product or business that seeks to differentiate itself from its competitors based upon its uniqueness. It often is associated with
A brand is a name of a product or business that seeks to differentiate itself from its competitors based upon its uniqueness. It often is associated with
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
a logo, tagline, color and graphic elements, but it is much more than that.
It is the customer experience associated with the brand, and it is the value gained by associating with the brand.
It is the customer experience associated with the brand, and it is the value gained by associating with the brand.
; 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
That value can be both actual and perceived. This can be helped by advertising and the media—you create associations and expectations based upon the brand. The brand delivers on those expecta
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
ions and therefore becomes memorable and recognizable.
Why has branding become so important?
We all have developed trust issues. And this is because of the disappointment level. We go out i
Why has branding become so important?
We all have developed trust issues. And this is because of the disappointment level. We go out 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
to the world to spend our hard earned money and the only consistency we get is disappointment.
We’ve become resistant to advertising messages because of our disappointment. So, branding is a
We’ve become resistant to advertising messages because of our disappointment. So, branding is a
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
other way of conveying a value system and a set of promises behind it. The experience must be defined and therefore expected. And the experience must be consistent. When you were a child, yo
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
went to Howard Johnsons—not for the great cuisine or dining experience—but because when you stopped your road trip, and were weary and exhausted, you could look forward to getting a consiste
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
t meal. It would be exactly what you envisioned.
How is branding a business different from branding a product?
In many respects it isn’t. The values behind both the product and the business
How is branding a business different from branding a product?
In many respects it isn’t. The values behind both the product and the business
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
are an essential part of the brand. While the Nike shoe is the product—it is their commitment to making technologically advanced shoe products that you are really buying.
What is the first t
What is the first t
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
ing you do when starting to brand a company or product?
You’ll need to find the essence or core of the business—and that involves finding out what they want to stand for. Then it is a matter
You’ll need to find the essence or core of the business—and that involves finding out what they want to stand for. Then it is a matter
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
of defining values and figuring out how you will convey those values out in the world.
Branding is ultimately about the customer experience. Let’s look at a few. Let’s look at Ron Popeil’s
Branding is ultimately about the customer experience. Let’s look at a few. Let’s look at Ron Popeil’s
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
Ronco Company. What is he saying? He’s saying: Come on live a little; have some fun with gadgets. And he gets that customer to be engaged—to buy into the experience as well as buy the product
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
His Showtime Rotisserie—Set it and Forget it. Set it and…what? And the audience roars…forget it!!!
This is a far different experience than the sophistication and culinary seriousness of say
This is a far different experience than the sophistication and culinary seriousness of say
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
a Williams and Sonoma or a Sur La Table. They are saying, You can’t possibly attempt to do this properly without this stainless steel masterpiece. And you believe it because the outcome mat
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
ers to you—it is your boss or mother in law coming for a sit down dinner party or Thanksgiving.
So, you think what is the outcome I want them to have? (with my product or service) and you de
So, you think what is the outcome I want them to have? (with my product or service) and you de
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
iver on that in everything you say or do—your newsletter, your catalog.
Are we serious or are we fun? If you are BMW and branding yourself as the Ultimate Driving Machine…you better have som
Are we serious or are we fun? If you are BMW and branding yourself as the Ultimate Driving Machine…you better have som
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
sophisticated experientials to back that up—the showroom, the brochures, the ads…as well as a smooth driving performance vehicle. Or the first time I pull out in front of a truck on I-95 and
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
I barely beat it—I’m going to be more than disappointed, I’m going to be returning it to the showroom.
So, it’s the name and the look that creates the brand?
The name solidifies the brand i
So, it’s the name and the look that creates the brand?
The name solidifies the brand i
.
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
the minds of the creators, and ultimately the public, if they are let in on the secret as to what the name represents. The look reinforces and stands for the brand in the way that a symbol o
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
signage stands for the message behind the symbol.
The brand delivers on expectations you have created and therefore becomes memorable and recognizable when you deliver on those expectations
The brand delivers on expectations you have created and therefore becomes memorable and recognizable when you deliver on those expectations
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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