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Advice You - Advertising Agency In Boston: Tips and Tricks
The big news on Wall Street last year was the initial public offering of Internet search engine Google. If you were a visitor from another planet, you might be asking yourself, What big, sophisticated, high-technology company is behind the success of Google? Could it be IBM, Microsoft, Intel, Apple, Oracle, SAP
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
, Hewlett-Packard, Cisco, Dell, Xerox, Sun Microsystems, Philips or Siemens? Of course not. The brains behind Google are two Stanford students, Larry Page and Sergey Brin, who launched the Web site in 1998. Some six years later, the two founders are worth billions.
All the advantages:
With some exceptions big
All the advantages:
With some exceptions big
; 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
companies seldom launch new brands that become big successes, even though big companies have all the advantages. Big companies have the resources, the people, the credentials, the distribution networks, the media contacts. I can't think of a single advantage an individual entrepreneur has over a big global con
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
lomerate. Yet there wasn't a big global conglomerate behind the success of brands such as Starbucks, Red Bull, Linux, JetBlue, Amazon, Yahoo!, eBay, Priceline, Monster.com and a host of others.
Nor for that matter was a big global conglomerate behind the success of most of the big brands of the past. Brands li
Nor for that matter was a big global conglomerate behind the success of most of the big brands of the past. Brands li
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
ke Apple, Microsoft, Digital Equipment, Dell, Sun Microsystems, Hewlett-Packard, Oracle, SAP, Siebel, Compaq, Quicken, McDonald's, Subway, Pizza Hut, Domino's Pizza, Papa John's, Wendy's, Gatorade, Mountain Dew, Wal-Mart or Costco. I repeat. Big companies seldom launch new brands that become big successes.
Dea
Dea
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
ly sins
There are two reasons for this phenomenon, which we call the "two deadly sins of marketing."
The first deadly sin is timing.
The good book says, "There is a time to be born and a time to die." The time for a brand to be born is before the category is established in the mind. It was 14 years after the
There are two reasons for this phenomenon, which we call the "two deadly sins of marketing."
The first deadly sin is timing.
The good book says, "There is a time to be born and a time to die." The time for a brand to be born is before the category is established in the mind. It was 14 years after the
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
launch of Red Bull that the Coca-Cola Co. finally responded by launching its own brand of energy drink-KMX Does KMX have enough energy to overtake Red Bull? Not a chance. Once a competitive brand is established in the prospect's mind, it's almost impossible for a me-too brand to overtake the leader.
32-year h
32-year h
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
ead start
It was 32 years after the launch of Southwest Airlines that Delta finally responded by launching its own no-frills airline called Song. You can't give your competition a third-of-a-century head start and expect to build a brand. All the momentum is on Southwest's side. Not to mention the money and th
It was 32 years after the launch of Southwest Airlines that Delta finally responded by launching its own no-frills airline called Song. You can't give your competition a third-of-a-century head start and expect to build a brand. All the momentum is on Southwest's side. Not to mention the money and th
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
resources. Imagine spending all day in the boardroom at Digital Equipment Corp. trying to persuade the chief executive and his staff to launch a serious 16-bit business personal computer before IBM did. No luck. We don't want to be first, said the chief executive. And I'm not concerned about IBM, he continued,
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
because if IBM does go first, "we'll beat their specs."
Well, IBM did go first with the launch of the PC in August 1981, the first 16-bit serious business personal computer, a product that went on to dominate a fast-growing market. And Digital Equipment did follow with not one, but three different lines of pe
Well, IBM did go first with the launch of the PC in August 1981, the first 16-bit serious business personal computer, a product that went on to dominate a fast-growing market. And Digital Equipment did follow with not one, but three different lines of pe
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
sonal computers, none of which made a dent in the marketplace in spite of their presumably better specs. IBM had become the standard, and if you wanted to participate in the personal computer marketplace, you were only a clone. Digital Equipment lost Too bad. Digital Equipment had the credentials to dominate th
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
e PC market. Brought to you by "the world's largest maker of small computers" was the tagline for Digital Equipment's new personal computer.
Imagine spending all day in a boardroom at Xerox trying to persuade the corporation to launch a desktop laser printer before the Hewlett-Packard LaserJet got strongly est
Imagine spending all day in a boardroom at Xerox trying to persuade the corporation to launch a desktop laser printer before the Hewlett-Packard LaserJet got strongly est
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
ablished. No luck. Too bad. Xerox had the credentials to dominate the laser printer market. In 1977, Xerox had introduced the 5700, the world's first successful laser printer.
Second sin
The second deadly sin is naming.
A big company wants to put its own name on a new brand. This is generally a mistake. New
Second sin
The second deadly sin is naming.
A big company wants to put its own name on a new brand. This is generally a mistake. New
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
ategories generally require new brand names. In spite of IBM's head start in business PCs, the company eventually lost out to Compaq and Dell, both new brands created especially for the personal computer category. To most prospects, IBM meant mainframe computers, not PCs (It's interesting to note how many marke
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
ting people chide IBM for not moving fast enough into personal computers, when in fact they were first. "Mainframe mentality" is their usual complaint.).
Imagine spending all day in the boardroom at Continental Airlines, trying to persuade management not to name its new no-frills airline Continental Lite. You
Imagine spending all day in the boardroom at Continental Airlines, trying to persuade management not to name its new no-frills airline Continental Lite. You
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 two choices. Either you can make the entire Continental system a no-frills airline (the preference) or you can give your new no-frills airline a different name than Continental. No luck. Continental Airlines crashed The company went ahead with Continental Lite, an airline that took off and then just as rapi
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
dly came down to earth, after losing many millions of dollars.
Then there's Kodak, a company that is paying the price for not giving its new digital camera line a different name than Kodak. Kodak means film photography, not digital photography. The irony is that Kodak invented the first digital camera (back in
Then there's Kodak, a company that is paying the price for not giving its new digital camera line a different name than Kodak. Kodak means film photography, not digital photography. The irony is that Kodak invented the first digital camera (back in
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
1976.) Yet the Kodak name locks the company into the past. Like Digital Equipment and IBM, Kodak had the credentials, the organization and the resources to dominate an emerging new category, but not the foresight to recognize that a new category needs a new name.
The exception
One exception should be mention
The exception
One exception should be mention
.
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
d. In 1994, Bill Gates asked Richard Barton to develop a Microsoft CD-ROM idea involving travel guides. Barton convinced Gates that the CD-ROM idea would fail, but that an online travel agency might succeed. Furthermore, he persuaded Mr. Gates to give the project a different name than Microsoft. Richard Barton
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
called Microsoft's online travel agency "Expedia." Seven years later Microsoft sold control of Expedia to USA Networks for an estimated $1.3 billion.
How Strong Is Your Brand? Do You Really Know? Do You Care? Would you like to take a simple test to see where your company's brand is now? Click on the link below
How Strong Is Your Brand? Do You Really Know? Do You Care? Would you like to take a simple test to see where your company's brand is now? Click on the link below
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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