Advice You - Business

Why big brands are failing to win or retain customers Anyone who ignored their customers in 2006

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 probably terminally ill! I have just read the article in ‘The wise marketer’ entitled ‘Is 2007

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

Examples of combination products may in

going to be ‘the year of the customer’. I now feel I must write a response In short: Every year

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

ust be the year of the customer. Why? Well ‘your brand promises something to you customer’. If yo

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

fail to deliver on that promise then you are on the slippery road. Companies cannot just focus on

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

Combination pro

cost cutting or the next new project. They must balance everything. Look at Ford – A key brand th

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

t relies heavily on discounting to drive its growth, it has now formed that habit. It is sad to no

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

e that Ford has global appeal. The issue being they have not defined their brand. Therefore they c

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

nnot provide in line with that brand. Lesson 1 – Define your brand and its values early. Build on

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

them, or you may have lots of ‘fans’ but no customers, even with apparent success. Consider Briti

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

h Airways. The brand is ‘The world’s favourite airline’; BUT BA has shown little/no understanding

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

Following aspects would a

f what makes them that. This means key ‘health’ indicators drop. They appear to show success, but

dd to the challenges in developing combination products:

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

1,157m (all the growth) is fuel surcharges. This is not sustainable and only masks the real issue.

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

BA needs to focus on delivering the brand promise.Lesson 2 is – Everything must always deliver aga

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

nst your brand values. This includes people, marketing and product. Finally you can continue to c

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

st save/balance as well as deliver the promise. The issues are:

1. No board level marketing

2.

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

Professional from academic institutions, pharmaceutical industries, health care indust

Forgetting the customer

3. Being internally focussed In summary keep it simple: 1. Define you

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

brand 2. Develop strategies in line with brand 3. Deliver your promise to the customer Think

.

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

the unthinkable, be different – someone else will have already thought of it, if you don’t. Do any

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

Companies that provide selfless information through particip

hing that keeps the brand promise, be brave, and don’t do anything that does not support this goal

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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Does good customer service extend to all customers? Read on - and put on your thinking cap!

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