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Advice You - Preparation of the Marketing Campaign: The Marketing Mix
The marketing mix: what and how to sell. A firm must standardize the marketing mix to produce cost savi
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
ngs and simplify logistics.
The marketing mix consists of a set of strategy decisions made in the area
The marketing mix consists of a set of strategy decisions made in the area
; 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
of product, promotion, pricing and distribution in order to satisfy the customers in a target market.
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
International marketers must develop marketing strategies by assessing potential foreign markets and an
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
alyze the many alternative marketing mixes.
Select target markets that the firm can serve at a profit
Select target markets that the firm can serve at a profit
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
Formulate combinations of tactics for product, price, promotion and distribution channels to serve thos
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
markets
Try to standardize advertising campaigns, promotional materials, and sales training programs
Try to standardize advertising campaigns, promotional materials, and sales training programs
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
so the work has to be done only once. There is a gain in efficiency when the same strategy is used in a
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
l markets.
Product Strategies:
The product is the central focus of the marketing mix. If it fails to
Product Strategies:
The product is the central focus of the marketing mix. If it fails to
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
atisfy the needs of consumers, no amount of promotion, price cutting, or distribution will persuade the
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
to buy. If the buyer is not satisfied from what you say in your promotions will not buy anymore.
Look
Look
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
into global markets, then try to make a single product or service for all of them.
Analyze the type o
Analyze the type o
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
product: industrial, consumer, or services.
Technical industrial products can be sold unchanged world
Technical industrial products can be sold unchanged world
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
ide, for example transistors. Consumer goods require grater modifications to meet local market requirem
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
ents and some can be sold unchanged to certain market segments (for example chocolate). Finally service
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
are unchanged worldwide. The marketing of services is similar to the marketing of industrial products
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
n that these products are easier to market globally.
Service Master, American Express and Visa are exa
Service Master, American Express and Visa are exa
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
mples of successful firms in global markets.
On the next Training series we'll continue analyzing the
On the next Training series we'll continue analyzing the
.
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
ther elements of the Marketing Mix and their associated strategies.
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
olenterprises.com/ebiznewsletter/index.html">http://www.iolenterprises.com/ebiznewsletter/index.html
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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