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Digg It - Why Do You Need A Brand Agency?
The purpose of a brand agency is to maximize the impact of your marketing investment. It is to make your brand work the hardest it possibly can. This is because your brand is independent of the money you ha
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
ve available to support it. So the greatest single value to be gained from a branding agency is the best brand positioning and communications that your product or service can support on a sustainable basis.
; 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
Both you and your competitors have a marketing budget. Your advertising and media agencies are there to make your money work as hard as it can. They can choose different media, or schedule the media differe
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
ntly, or have different advertising and packaging. But no matter how hard they try, their ability to increase the power of your marketing investment is limited. This is because it is your brand that will mo
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
t determine whether your prospect will choose your product or that of your competitor.
How is the brand so different and so important vis a vis your marketing budget? It's quite simple, really. You might s
How is the brand so different and so important vis a vis your marketing budget? It's quite simple, really. You might s
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
ay that your marketing investment, your advertising and packaging, are all means to deliver your brand into the minds of your prospects. But it is what the brand does in the hearts and minds of your prospect
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
that will determine whether they become your customer, instead of someone else's.
A brand is the meaning that your product or service can have in the lives of your prospects. The more meaningful, i.e., the
A brand is the meaning that your product or service can have in the lives of your prospects. The more meaningful, i.e., the
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
more important the meaning it has, the more thoroughly it is entrenched in your prospects hearts and minds. This meaning is what is called positioning in the marketing profession. Positioning is the specif
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
c location in the emotional and mental map of the prospects mind. If your brand's positioning has the highest emotional and mental ground in that map, it is much more likely to endear your product or service
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
to your prospect.
So the brand is what is delivered into your prospects' hearts and minds, through your budget, through your media, through your advertising and through your other communications like promot
So the brand is what is delivered into your prospects' hearts and minds, through your budget, through your media, through your advertising and through your other communications like promot
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
ons and packaging. These means can deliver a brand that works very hard for you, or it can deliver one that doesn't. Brand is where the rubber of your efforts meet the road of your prospects hearts and mind
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
s, where their preference for your product or service is determined.
So, when evaluating or choosing a brand agency, you really have only one question. How powerful can they make my brand, so that it multi
So, when evaluating or choosing a brand agency, you really have only one question. How powerful can they make my brand, so that it multi
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
lies the power of everything else I do, like the media I choose, the scheduling pattern I use, the advertising I use, the promotions I use, and the packaging I use? More simply put, how much bang can they gi
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
ve to my marketing buck?
Some of you might be wondering, why do I need a branding agency at all? After all, my advertising agency says they do brand. Good question. But here's the answer. And it is a ver
Some of you might be wondering, why do I need a branding agency at all? After all, my advertising agency says they do brand. Good question. But here's the answer. And it is a ver
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
simple one. Because only a branding agency focuses on brand. Your advertising agency must sell you the budget, they must sell you the media, they must sell you the scheduling plan, they must sell you the a
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
d campaign, they must sell you the ads, the promotions and perhaps, even the packaging. And it's very easy for the brand to get lost among all these things they have to sell you.
We have already seen that t
We have already seen that t
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
e brand is the single point in your entire marketing effort, that determines whether your marketing dollar doesn't work very hard or whether it is powerful. So it is better to assign this crucial point to p
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
eople who are best at this - a brand agency.
But you might say, my ad agency doesn't charge me for any work they do for my brand. They cover it with the money they make from the advertising budget. Good po
But you might say, my ad agency doesn't charge me for any work they do for my brand. They cover it with the money they make from the advertising budget. Good po
.
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
nt. Here's a question to consider. Do you want to risk the most powerful single point in your marketing effort, the only one that can make the difference between your million bucks working as hard as five m
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
illion bucks - just to save a few hundred thousand bucks? You get the point.
In a nutshell. You need a brand agency. It is your best way toward making sure you get the most bang out of your marketing buck
In a nutshell. You need a brand agency. It is your best way toward making sure you get the most bang out of your marketing buck
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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