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Advice You - High Tech Product Management
Product Management--what does this mean in a High Tech company? What is the function, and where does it belong? I've held permanent positions in a number of high tech concerns, as with PJM Consulting I have worked with many more in a co
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
nsulting capacity.
Product Management is all over the map in High Tech. Most often it resides in the marketing department. Sometimes, it's in the engineering/product development department. Occasionally you will see it as it's own func
Product Management is all over the map in High Tech. Most often it resides in the marketing department. Sometimes, it's in the engineering/product development department. Occasionally you will see it as it's own func
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
tion. And again, what does the term mean in a High Tech company? Sometimes it is used interchangeably with the term "Product Marketing". In this case, it means responsibility from cradle to grave of the product planning and marketing fu
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
nctions for a particular product or product line. In other words, working with the developers to define the product (product planning), as well as driving the other "3Ps" for the product--setting pricing, distribution strategy and promo
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
tional strategy.
In larger companies you will often find this function separated into two distinct jobs: Product Management as the Product Planning portion, and Product Marketing as the function that manages the product once it is rele
In larger companies you will often find this function separated into two distinct jobs: Product Management as the Product Planning portion, and Product Marketing as the function that manages the product once it is rele
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
ased into the market--driving pricing, promotion and distribution. In this case both functions may still reside in the marketing department, or the Product Planning portion is sometimes in the engineering department.
The last variance
The last variance
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
on this theme that is sometimes seen is that the Product Management resides in the engineering department, but it only vaguely resembles the traditional definition of the term. In this case it is "Product Planning", but the job and skil
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
l set more closely fit the definition of an engineering project manager, with very little weight put on exploring the market to match marketplace needs with engineering capabilities.
In High Tech, the Product Management function is mos
In High Tech, the Product Management function is mos
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
t typically a "matrix" position: lots of responsibility for a product's success, with very little actual authority to ensure that success. Normally a Product Manager's success will be decided based upon his/her ability to convince other
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
stakeholders in the organization that the path laid out is the best thing for the company (and the individual stakeholders as well!) People skills are therefore as important as having a technical grasp of the job in a Product Manager's
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
ultimate success.
In consumer markets, the Product Manager typically holds much more direct power--often much like a mini-GM for his product line. Often product development will even work for him. The term Brand Manager is often used i
In consumer markets, the Product Manager typically holds much more direct power--often much like a mini-GM for his product line. Often product development will even work for him. The term Brand Manager is often used i
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
n consumer businesses instead of Product Manager. (In a big High Tech company, a Brand Manager will fulfill more of a Marcom role).
So what's the best way to structure the Product Management role in your business? Well there really isn
So what's the best way to structure the Product Management role in your business? Well there really isn
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
't one best way. It depends upon your business, culture and personnel. But I do have my biases. I believe strongly that most high tech businesses would benefit by structuring the Product Management function to be strong. Tthere is much
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
to gain by putting a strong, experienced Marketer with a strong technical background in a Product Manager role where they are graded and compensated by the results of the P&L of their product line. I wouldn't go so far as to suggest tha
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
t Product Development should report to the Product Manager in a High Tech company, but I would give them discretionary budgetary authority on at least a portion of the marketing budget for the product line. I would also make sure they h
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
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
ave management backing to deal with the developers from at least an equal position of strength. This lack of product management strength is a huge problem in many High Tech companies, particularly those founded by product developers.
T
T
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
he Product Manager's mentality should be that of a "mini-CEO" with his product line analogous to the overall company for a real CEO. Too often in technology companies the Product Management/Marketing functions do not have the ability to
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
stand up to Engineering. This leads to a culture of building what suits someone's fancy, not building what the market will buy--a very dangerous thing in the long term. A strong Product Management function will lead to an advocate for
.
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
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
that product line whose sole business "purpose in life" is for his product to succeed. This outlook ensures that the big picture will always been looked out for, eliminating the potential for a product line's performance to be reduced b
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
y turf wars-- or sub-optimal tactical moves due to poor inter-department communication. The Product Manager is there to rationalize and orchestrate to ensure the product line has the best chance of success.
That's my take--what's yours
That's my take--what's yours
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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