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Digg It - A Successful Failure
A successfully positioned business sometimes doesn't win a new client. And that, my friend, is the point. Let me illustrate with an anecdot
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
e.
Recently I was making a new business pitch to a Charlotte area professional services firm. The second meeting took place after I had pr
Recently I was making a new business pitch to a Charlotte area professional services firm. The second meeting took place after I had pr
; 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
ovided a detailed proposal to the company on how I work. From the two meetings and the proposal it was made abundantly clear that I take a
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
comprehensive, strategic approach to communications.
One of the partners asked me if there was a "PR light" alternative. This meant that h
One of the partners asked me if there was a "PR light" alternative. This meant that h
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 wanted a tactical program that required very little involvement or input from him and the other partners. I assured him there was, but th
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
at was not my approach.
I guess I could have taken the company's money every month just to perform a few tactical activities, but it would
I guess I could have taken the company's money every month just to perform a few tactical activities, but it would
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
have been wrong for both of us. I wouldn't feel right taking their money, nor would I be happy implementing a program that a PR intern cou
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
ld accomplish easily.
Needless to say, the firm selected another communications agency. To understand why this new business loss was a suc
Needless to say, the firm selected another communications agency. To understand why this new business loss was a suc
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
cess, we need to look at a definition of positioning.
Positioning Defined
An organization's brand identity must be a reflection of
Positioning Defined
An organization's brand identity must be a reflection of
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
three things: market perceptions, the organization's acumen, as well as its aspirations. Positioning is where these three elements overlap
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
The point of positioning is to develop a platform from which all communications emanate. Positioning defines who we are, the kinds of cus
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
tomers we want, how we will compete, and how we are different.
So, before you can hone your brand identity, and before you develop and imp
So, before you can hone your brand identity, and before you develop and imp
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
lement a communications plan, you must approve a positioning statement. From a communications standpoint, it is the heart of your brand.
L
L
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
et's look at the elements of positioning:
Market. The kinds of clients we want to do business with. Hoover ink's market definition
Market. The kinds of clients we want to do business with. Hoover ink's market definition
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
is: For organizations that are serious about their success and that understand the need for focused communications,
Competitive Offerin
Competitive Offerin
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
g. The products/services and/or type of service we will provide. Hoover ink's competitive offering is: we are the PR and marketing firm
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
that carefully defines its clients' audiences and develops market-based positioning,
Differentiation. The benefit that makes us sp
Differentiation. The benefit that makes us sp
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
ecial. Hoover ink's differentiation is: so that we can help our clients communicate to all of its constituencies clear, concise messages th
.
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
at have a bottom line impact.
When the prospect called to say they had selected another agency to handle its PR program, I was told that m
When the prospect called to say they had selected another agency to handle its PR program, I was told that 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
y approach was too strategic and comprehensive. I'll take that as a compliment any day, and as an indicator that my positioning is on track
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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