Advice You - Business

Levels of New Market Development

A. Passive

Passive here means broad spectrum medi

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

a ads which stimulate the front runners - who are the gasoline for the engine of the move

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

Examples of combination products may in

ment of any new product from "new" market development until it becomes a commodity. These

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

are the TV or newspaper ads that stimulate enough people to act. This stimulus/response

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

takes a little selling, but, is a lot easier than direct sales, and is a little harder th

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

Combination pro

an merchandising commodities.

B. Active

This is direct sales. Direct sales means t

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

hat you called (or mailed to) them directly and went for a "yes" or "no" without them bei

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

ng predisposed in the first place. Direct sales is the most difficult to achieve, but is

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

also the most rewarding when successfully accomplished. Because price is not an object.

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

For example: Media ads for new windows - Once there is an inquiry, a professional sales p

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

erson is sent to "close" a sale. This is a skilled and highly paid professional. But even

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

Following aspects would a

harder and more high-paying is the non-response selling of a new product or service. Get

dd to the challenges in developing combination products:

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

ting an appointment on a new product (generating leads) is a chore in itself.

Secondly,

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

sales of perceived value are lower in close rates than media response leads, but the cont

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

rol of the number of responses and sales is much greater. You are not dependent upon as m

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

any exterior conditions being favorable (seasons, inflation, etc.).

Mail order also fall

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

Professional from academic institutions, pharmaceutical industries, health care indust

s into this last category. To be "good" at marketing any one of the above levels does not

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

necessarily mean much with the other categories. Do you have inexpensive "passive" promo

.

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

tions? If you are selling an unknown product or service, are you describing what "problem

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

Companies that provide selfless information through particip

" you are going to solve, or, how you are going to enhance their life from the status quo

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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Advice You - Levels of Marketing Activity, Part II

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