Advice You - Business

There's nothing more frustrating than spending your valuable time, money and energy to market your bus

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

iness and then not getting anything to show for it. No clients. No sales. No results.

And we have to

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

Examples of combination products may in

ask ourselves the question, "Why isn't it working?"

And to be honest, there could be many reasons 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.

marketing isn't working.

Marketing is all about having the right message in the right place in front of

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

the right people at the right time. That's a lot of "rights!"

Get one of them wrong, and your result

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

Combination pro

s suffer.

The best way to make sure you get all the marketing "rights" right, is to take the time to

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

create a marketing plan. Because in the process of planning you will address all of these aspects of y

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

our marketing.

The Right Message

WHAT is your marketing message? What are you saying to convince peop

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

le that they should? buy your products or services? What you say, and how you say it, is absolutely cr

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

itical. It must tap into the needs and desires of your prospects. It must hit them emotionally.

The Ri

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

ht Place

WHERE and HOW are you marketing? You've got to put your marketing message out consistently so

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

Following aspects would a

your prospects are exposed to it repeatedly. That means your message has to be where your prospects a

dd to the challenges in developing combination products:

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

re.

The Right People

WHO are you talking to with your marketing? Do you have a clear definition of who

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

they are? what is important to them, and how your product or service can solve a problem or fill a n

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

eed they have? You've must if you want your marketing to be effective.

The Right Time

WHEN are you ma

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

rketing? HOW OFTEN are you putting your marketing message out in front of your prospects? You must ma

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

Professional from academic institutions, pharmaceutical industries, health care indust

rket consistently over time to be effective. And, if there is seasonality to your business, or a specif

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

ic time when people are more likely to buy from you, you must be in front of them at that time.

Get th

.

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

ese four "Rights" right and your marketing will stand a much better chance of succeeding.

Taking the ti

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

Companies that provide selfless information through particip

me to create a marketing plan ensures you've taken the time to carefully address each of these "Rights.

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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