Advice You - Business

Branding is a vital part of every successful company. Every year, companies spend billions marketing their brand and product through advertising, marketing and by being out there. Unfortunately for us, there are so many companies out there and all of t

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

hem are screaming for attention.

The vital question is, in the sea of competitors, how can you successfully remove yourself from the pack and make others acknowledge your existence and thereby exponentially increasing your brand awareness?

Brand awar

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

Examples of combination products may in

ness is definitely a vital point in distinguishing yourself from the pack and it involves many less tangible aspects of you and your company’s reputation. Hence, by identifying the critical factors that will lead to an increase in brand awareness, your

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

positioning and Unique Selling Proposition(USP) would be clear to your prospects, and this leads to higher conversion rates and more profitable advertising campaigns, not to mention a soar in your brand awareness.

This series of articles were specific

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

ally designed so that you would be able to exponentially increase your brand awareness, making your brand stick in the minds of your potential customers, so that when they are thinking about your particular niche, the first thing in their mind would be

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

Combination pro

of you and your company brand.

Step 1: Identify the Building Blocks of a Business Brand.

Before we can raise the awareness of your brand, we must first know what the basic building blocks of a brand are. This would give us more clari

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

y on how to proceed with the process of increasing your brand awareness. This also gives you a platform by which to start your branding initiatives.

Firstly, you must know where your company is positioned. Ask questions such as:
• Does your comp

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

any provide value for money, presents your customers with a great deal?
• Is your company the best at what it does?
• What about the quality of the products that you offer, is it of the best quality?
• Is your company reliable: Is it a s

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

able operation?
• What are the things that your company values, and strives to pass on to your customers?
• Purple Cow if any?
• Is your company great at innovation, at customer service or at any particular areas?

Step 2: Know W

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

at your Customers Really Want!

I know this sounds obvious, but if you don’t give your customers what they want or need, it doesn’t matter if you have the best products, no-one will buy it.

It is vital to get the overall value system that you

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

ideal customer operates upon. For example, when buying a car, would your customers value safety over beauty? If you know what they value then you would proceed to built what your ideal customer really wants.

What happens if you invest all of your R

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

Following aspects would a

&D on making the car bulletproof, at the same time cutting down the budget for the design department, but to just realize that the main criteria for your ideal customers in buying the car is to show off to their friends the beautiful car that they had

dd to the challenges in developing combination products:

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

urchased? What if they don’t really have to have a bulletproof car? Wouldn’t that be just a waste of your efforts? Wouldn’t you spend the money on improving your designs instead?

Whatever decisions you make, it has to be made with your customers in mi

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

d. By knowing what your customers value, you would be able to reach their hearts and emotions, and therefore their wallets.

Step 3: To Know What They Want, You Need To Ask Them!

From the previous step, since we know that the right w

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

ay is to know what your ideal customer wants, the best way to obtain that information is to ask them. Ask them directly.

Carry out customer surveys, using companies such as AC Nielsen. Or else, you can try asking them personally. Whatever you do, you

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

eed to ask.

Ask open questions like such:
1. What do you really want from this product?
2. What is the best product that you have used?
3. What improvements would you like to see from that best product?
4. What annoys you about the

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

Professional from academic institutions, pharmaceutical industries, health care indust

e products?
5. What are the most important functions that you expect from this product?
6. How would you rank our company in comparison to other competitors for this product line?

Ask value questions also, such as:
• What would be more

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

important, quality or fast delivery?
• Product quality or customer service excellence?
Give them a list of related values and ask them to rank it in order of relative importance.

Once you have gathered sufficient data, then analyze them by

.

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

their relative importance and mould your product accordingly. If you give your customers what they want, they will flock to you and give you what you want.

The next part will show you even more advance ways to exponentially increase your brand awarene

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

Companies that provide selfless information through particip

s. So, don’t miss out on the second part: How To Exponentially Increase Your Brand Awareness Part II

For more information about Marketing and Copywriting, please visit my site at www.copymarketing.com

Copyright 2007 © Daniel Toh, www.copymarketing.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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