Advice You - Business

A Sustainable Competitive Advantage (SCA) is a unique offering that is valued by your customer and is not avail

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

able from the competition. It is not what you think it is or what you want it to be. It is what your customer b

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

Examples of combination products may in

elieves and that is what counts. This perception is everything.

Your SCA is made up distinctive competencies,

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

which are unique attributes or benefits that are valued by the customer. Simply stated, this means that you do

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

different things, or that you do things differently from your competition. These distinctive competencies are s

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

Combination pro

valuable to your customer that they will choose your offering instead of the competition's offering. These ben

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

efits could be unique product features, product design, method of delivery, or even your brand.

An example of

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

doing things differently is Starbucks. They serve coffee, which is hardly unique, but they make the coffee buyi

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

ng experience almost a lifestyle. Have you seen the lines at this place? And, people go to Starbucks just to ha

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

ng out. An example of doing different things might be MySpace; although not the first social networking site, t

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

ey targeted the younger crowd and created an environment to connect and express yourself with 100 million other

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

Following aspects would a

individuals.

A competitive advantage is sustainable if others can’t copy it or deliver the same thing, or if

dd to the challenges in developing combination products:

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

the cost or the time to develop a competing solution is very significant. Being first to market may provide a c

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

ompetitive advantage in the short run, but it is seldom sustainable.

To determine your SCA, list your distinct

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

ive competencies, which are the unique attributes or benefits that are valued by your customers. Then list your

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

chief competitor’s distinctive competencies. Compare both lists. Delete the attributes or benefits from your li

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

Professional from academic institutions, pharmaceutical industries, health care indust

st that you share with your competitor since they are not truly unique. The remaining items on your list make u

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

p your competitive advantage.

Next, ask yourself is it sustainable? Can this competitive advantage be duplicat

.

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

ed and, if so, how soon? If your competitive advantage is easily cloned, then you had better come up with some

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

Companies that provide selfless information through particip

new attributes because you are not alone.

Remember, only dead fish swim with the current.

John Bradley Jackso

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.adviceyou.org.ua/article/25947/adviceyou-Niche-Marketing-With-a-Sustainable-Competitive-Advantage.html">Niche Marketing With a Sustainable Competitive Advantage</a>

BB link (for phorums):
[url=http://www.adviceyou.org.ua/article/25947/adviceyou-Niche-Marketing-With-a-Sustainable-Competitive-Advantage.html]Niche Marketing With a Sustainable Competitive Advantage[/url]

If you are advertising with safelists, you may not be getting the results you are looking for.

Most directory ads have various flaws and reasons they fail. It's your job to find out what they are.

Every time I write an article or do a piece on buying businesses someone will always ask me if it's possible for them, even with rotten credit and a string of bankruptcies on their record. When I tell them it's totally possible they just don't believe me. Realize this:

Tags

Links

Advice You - Niche Marketing With a Sustainable Competitive Advantage

Related Articles: