Advice You - Business

Here’s a line from Law and Order, Criminal Intent that every marketer should memorize. D

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

A Arthur Branch, about to sign an arrest warrant for a judge in a high-profile case: “It’s not e

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

Examples of combination products may in

nough to do good; you gotta be seen doing good.”

And that’s the essence of signaling cri

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

teria.

In his classic Competitive Advantage Michael Porter mentions two types of buyer c

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

iteria:

use criteria = what the product does for the buyer

signaling crit

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

Combination pro

eria = how the buyer thinks or feels about what the product does for the buyer

Many ma

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

rketers think their job ends at providing effective signaling criteria. We say: “Hey, I’ve told

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

a great story, I’ve produced a super TV spot, my click-through rates are fantastic—I’ve done my

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

job.”

And by one measure, you have. If you are hired to write a great ad and nothing else, the

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

n yes you’ve certainly done the client right. But if you own a small business, or if you are in

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

charge of company-wide marketing, or if you own an agency that wants to keep an account for year

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

Following aspects would a

s, then you better quickly learn to pay attention to use criteria.

Because, as Porter so accura

dd to the challenges in developing combination products:

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

tely point out, a company can make an OK product and create superior marketing communications an

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

d best a company that turns out a superior product but fails to let the customer know how great

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

he product really is.

For a while.

But eventually a competitor with “so-so” advertising but be

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

tter products usually catches up with the advertising leader. The advertising message is forgo

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

Professional from academic institutions, pharmaceutical industries, health care indust

tten, and the user is stuck with the product. And the product, unless it is really fantastic, d

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

esn’t speak for itself. And if there’s a better competitive product out there, the customer is

.

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

going to find it eventually.

And Porter wrote this in the 80s, before instant internet product

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

Companies that provide selfless information through particip

reviews were available.

What’s the smart marketer to do?

Keep signaling--after the sale

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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Turnaround managers have to operate under very tough environment. In some instances, he or she has to make bold decisions based on very little information. All decisions will result in consequences, whether these are positive or negative. His decisions are based on his value system that is his personal beliefs, connections and other influences. You are where you are because of the various decisions taken in your life.

Here is some useful advice for parents to help encourage their children to become entrepreneurs.

I once coined a phrase or saying that goes something like this: Every engineer should get his or her start in Arkansas as I did, cutting chicken necks. In that manner your peers will always marvel at how far you've come – or understand why you achieved so little.

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