Advice You - Business

Quick Quiz: Let’s say you’ve just out-marketed a competitor who has a product that in all honesty

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

is superior to yours. You’ve done a better job of signaling to the customer that your product w

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

Examples of combination products may in

ll actually meet the consumer’s needs better.

Congratulations.

Now what? Do you:

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

Stop communicating with the customer. (Hey, they’ll eventually find out the other product is be

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

tter anyway.)

B. Immediately fire out a quick customer satisfaction survey. (Hoping for

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

Combination pro

high score while they’re still happy with their brand new product.)

C.Build a relationsh

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

p with the customer. (Using appropriate post-sale signaling to counter the superior product’s ad

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

vantages.) What’s the right answer? Well, it depends on the future value of that

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

ustomer.

“A” is the right answer if you are in a one-time sale situation with little hope 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

e-sell, cross-sell or word-of-mouth from the customer. “B” may be best if you

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

are planning on quitting your job in a month or so and want to generate some warm-fuzzy feelings

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

Following aspects would a

from your final marketing salvo so your boss will give you a good reference on future jobs.

Only

dd to the challenges in developing combination products:

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

apply “C” if you really want to re-sell that customer again, or if that customer is a potential r

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

ferrer of business to you. Otherwise it’s too much work and expense.

Take heart, though. If yo

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

u’ve out-marketed the better model once, you can do it again. And this time you’ll have the adva

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

tage of knowing two absolutely key pieces of information about your customer that your competitor

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

Professional from academic institutions, pharmaceutical industries, health care indust

with the better product won’t have.

You know what and when your customer bought.

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

You can establish a bonding, long-term rapport with the customer, long before she’s thinking abou

.

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

another purchase of the product.

If your product is even close in price and performance, you ca

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

Companies that provide selfless information through particip

build upon your head start on the competition by savvy marketing that bonds that customer to you

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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Medical companies and hospitals spend a lot of time and money creating brochures, but often they miss the mark. It's not that they're not good--they just are written at the customer instead of to the customer. Good news: it's not hard to fix the writing.

Many believe that the manufacturing and food processing systems make it nearly impossible for large Corporations to produce healthy foods and drugs, but is this really true and is it fair to condemn our food distribution system? What if they did not exist? How do you feed 5.5 Million in Houston, 13.5 Million in Southern California and 12 million people in NYC? And what about sending food all over the World like we do too?

As a Manager is the feedback you get the truth, or is it what the workforce think you want to hear? How do you know the difference?

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Advice You - Keep Signaling After the Sale

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