Advice You - Business

The development of successful strategic marketing programs to commercially market new technology is a challenge. It requires th

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 incorporation of good strategic thinking and Your Strategic Thinking Business Coach offers ten (10) strategic actions for you

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

o take to develop a successful strategic marketing program for the commercial marketing of your new technology.

Strategic Actio

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

n #1: Use strategic thinking and planning and develop an overall marketing vision. Integrate this marketing vision into your b

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

siness’s overall strategic plan and its vision, mission, guiding principles and goals.

Strategic Action #2: Develop a strategi

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

c Integrated Marketing Communications Plan for the commercial marketing of your new technology.

Strategic Action #3: Identify

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

nd define the goals and objectives with the critical success factors to reach the desired outcomes with measurable performance b

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

enchmarks.

Strategic Action #4: Identify and clearly define the marketing skills required to complete each task with special e

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

phasis on specific industry knowledge, communication skills, presentations skills, interpersonal skills, technical knowledge, et

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

iquette and social skills, networking skills, etc.

Strategic Action #5: Recruit and hire your marketing team members based upo

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

experience, skill sets needed, availability, growth potential and opportunities and overall fit with other team members.

Strat

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

gic Action #6: Develop and assign marketing responsibilities and authority to marketing team members. Clearly define roles and

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

responsibilities of each team member.

Strategic Action #7: Identify and clearly define the marketing resources available, whi

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

h could include internal and external systems, personnel, consultants, coaches and mentors.

Strategic Action #8: Develop an ef

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

ficient and effective marketing reporting system to monitor the progress and provide timely reports.

Strategic Action #9: Esta

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

lish a sound system of accountability for all those involved in your strategic marketing effort.

Strategic Action #10: Create

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

and foster an environment for an ongoing endeavor to identify new technologies for commercial marketing consideration.

Your str

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

tegic thinking business coach encourages you to fully realize the benefits of business coaching to strategically market and mana

.

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

ge your business. If you would like to learn more about how a strategic thinking business coach can facilitate and guide you in

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

that endeavor, please contact Glenn Ebersole today through his website at www.businesscoach4u.com or by email at jgecoach@aol.co

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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