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Digg It - Branding, is It Time for a Change?
Colonel Sanders, the icon of Kentucky Fried Chicken®, recently went through a makeover. Only his fourth in 50 y 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 ears. Management said the move is an attempt to keep the brand relevant and to promote that KFC® was actually s ; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug. Examples of combination products may in arted by the man himself. Yes, there really is – or was – a Colonel Sanders. Changing a brand’s visual identi lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together. y is a very difficult decision to make. The visual image must convey exactly what the company’s leadership wants here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe and needs it to convey. As you look at the new image of the Colonel, you may think it doesn’t make it anymore d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations. Combination pro relevant” than it did before. In fact, you may not even recognize that the image was different since the modifi 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 ations are subtle. People generally don’t like change. In fact, we’re often actively resistant to it. When yo 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 u have an established business with a loyal client base, you don’t want to alienate them; but, at the same time, nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically the business must recognize that new customers are needed to move the business forward. While it’s important to 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 make modifications or perform a complete overhaul to your visual image, keep in mind sales guru, Brian Tracy’s c ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi mment: “You can’t achieve much more on the outside than what you have achieved and become on the inside.” It w ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it. Following aspects would a ill take much more than just a nicer logo to grow your business. We’ve all been attracted to some shiny new pro dd to the challenges in developing combination products: Which markets to tap where the combination products can do fairly well? Which combination prod uct, bought it, then been disappointed when it didn’t perform up to our expectations. Or we’ve ordered a desser cts are meaningful and rational? Which therapeutic categories to select? Which Combinations can address unmet needs of the patients? Do combin that looked beautiful on the display cart and been disappointed when it didn’t taste as good as it looked. Yes tions increase the patient compliance? What would be the developing cost? How to tackle the risks encountered during combination product developmen , the visual image your company uses is an important part of your overall messaging to consumers. But for succe 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 sful long term relationships to be built with customers, you must also improve the internal organization so the ping new procedures for reviewing their safety, efficacy and quality. Professional from academic institutions, pharmaceutical industries, health care indust atrons’ experiences are consistently outstanding. You must establish a relationship so emotionally strong that, y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products they can’t imagine another company taking your place in their life. Your next step: Consider your visual iden . 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 ity and compare it to the emotions you want the customer to feel. It may be time for an upgrade. If you’re not elopment. They need to be wiser in analyzing the market trends and the regulatory requirements. Companies that provide selfless information through particip turning customers into passionate advocates for your business you’ve got lots of work ahead of you for next year 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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