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Digg It - Corporate Branding
In certain cases the company name itself is used as a family brand name under which varied produ 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 cts of the company are marketed. This process is called corporate branding. Corporate branding i ; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug. Examples of combination products may in s resorted to only when the company is confident that lending the company name to its products g lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together. ives a better identity for the products. And once the corporate brand name is established, it fa here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe ilitates easier establishment of new products. In the matter of corporate branding, a manufactu d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations. Combination pro rer has a number of options. He may adopt a family brand name for all his products. He can adopt 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 individual brand names for each individual product. He can adopt multiple brand names for the s 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 me product with a view to catering the varying segments of the market. Finally, he can offer his nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically product for branding by a middleman or a distribution house. The decision is not easy, because 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 all the alternatives have merits and demerits. When talking about family brand, different produ ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi ts of the company are marketed under one brand name. It is convenient to adopt a family brand, f ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it. Following aspects would a or related products. Promotion of such products becomes easier and less expensive under a family dd to the challenges in developing combination products: Which markets to tap where the combination products can do fairly well? Which combination prod brand. But the marketer in such cases has to ensure that all the products offered under the fam cts are meaningful and rational? Which therapeutic categories to select? Which Combinations can address unmet needs of the patients? Do combin ily brand maintain the same standards of quality. If one product in the group becomes a low qual tions increase the patient compliance? What would be the developing cost? How to tackle the risks encountered during combination product developmen ty product, it will affect the entire range of products covered under the family brand. Under i 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 ndividual brands, each product of the company is given an independent brand name. When an indivi ping new procedures for reviewing their safety, efficacy and quality. Professional from academic institutions, pharmaceutical industries, health care indust dual brand name is given for each product, there is no question of a composite responsibility. U y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products der multiple branding, the same product is offered under different brand names. This is intended . 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 to achieve a greater degree of market penetration. Though the product is the same, different sa elopment. They need to be wiser in analyzing the market trends and the regulatory requirements. Companies that provide selfless information through particip les appeals are built around the different brands, thus maximizing the total sale of the product 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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