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Marketing outsourcing is a growing trend in most companies. Companies spend a major part of their funds on promotion and research. Some ex

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

perts feel that outsourcing marketing to other companies can damage the marketing projects of the business. This article discusses some of

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

Examples of combination products may in

the disadvantages of outsourcing marketing.

Marketing is today much more complex a procedure than ever before. Here are some issues that

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

plague marketing aspects of a business.

Difficulties With Business Marketing

Marketing needs quick decisions and a grasp of overall busi

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

ess performance. Some of the challenges that marketing division of any company faces are:

Decisions by the management need to be quick.

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

Combination pro

he IT revolution has made marketing more challenging. Marketing itself has undergone a sea change, and traditional methods no longer work

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

.

With so many challenges facing marketing, there are several reasons why outsourcing will not work.

Outsourcing Marketing: Disadvantage

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

Outsourcing marketing has many disadvantages that need to be considered before you call in outside marketing experts.

Customer Relation

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

ships

You understand your clients well and can include their preferences in your marketing strategies. A third party will not have such g

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

od understanding of your customers. You cannot use the data the outsourced company gathered, as you would like to. You cannot control t

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

e input gained through marketing research conducted by outside parties. As you outsource more and more work to outside companies, you bec

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

Following aspects would a

ome more dependent on them. This may lead to the external party hiking the price of its services. Innovation suffers, since the outside c

dd to the challenges in developing combination products:

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

mpany will not like to spend more time than necessary on providing the basic services agreed on. The outsourcing company may shut down b

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

usiness because of losses, and that will adversely affect any other businesses dependent on its services. Redundancies of the outsourcin

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

process may affect your business adversely. Your business may lose capable people because their services are no longer required after ou

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

sourcing. Customer relations may suffer, since the company you outsourced to focuses more on the product.

Marketing research companies y

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

Professional from academic institutions, pharmaceutical industries, health care indust

ou employ may not have the requisite knowledge of company goals and values.

Political sensitivity is a key consideration when outsourcing

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

to offshore locations. Many countries may face political crisis, wars, and epidemics. When companies based in these countries cannot work,

.

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

your business also suffers.

These disadvantages must be factored in before you outsource your marketing to a third party. Loss of talent

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

Companies that provide selfless information through particip

increased expenditure, and lack of control over marketing data are some problems you might face while outsourcing your business marketing

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 - The Pros And Cons Of Outsourcing Marketing Function For Small Business Owners

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