Advice You - Business

Which means it’s your job to prove customers right.

To confirm their suspicions about the value you deliver and the val

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

ues you stand for.

It ALSO means you need to be (somewhat) predicable:

1. In person.
2. Via email.
3. On the

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

Examples of combination products may in

phone.
4. Throughout your marketing efforts.

Be (somewhat) predictable.

Disney calls this “staying in char

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

acter.” (After all, their employees ARE called “cast members!”)

AND HERE’S THE THING: you’re not that different!

OK,

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

maybe you wear a little less makeup. But the distinction is, instead of playing the role of Snow White, you’re playing

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

Combination pro

the role of YOU.

SO, THE CHALLENGE IS: how do you become (somewhat) predictable?

Here’s a list of three ways to mainta

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

in brand consistency:

1. RECORD Brand Moments. Keep a log of your branding “moments of truth.” For example, wr

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

ite down any time a customer says, “I figured you would do that!” or “It doesn’t surprise me to see your company…” or “T

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

hat’s exactly what I expected your website to say!” After all, what people remember about you is what you are.

2. RE

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

MIND Brand Moments: in your office, post a bunch of sticky notes that read, “Is what I’m doing RIGHT NOW consistent

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

with my brand?” This will keep you accountable. And if you’re ever not sure if the answer is yes, well, consider that

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

Following aspects would a

a hint.

3. REINFORCE Brand Moments: any time you do or say something consistent with your brand’s values, tell p

dd to the challenges in developing combination products:

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

eople. For example, if you email a prospect and say, “Well, my consulting fees are available on my website,” don’t forg

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

et to punctuate that sentence with, “…because that’s the way I do business,” or “…because that’s what clients have come

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

to expect of me.” They’ll appreciate your integrity. And people respond to policies.

ONE FINAL NOTE: don’t seek to ac

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

hieve 100% predictability. There’s nothing wrong with throwing a few curve balls here and there.

Just remember, consis

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

Professional from academic institutions, pharmaceutical industries, health care indust

tency is CRUCIAL to successful branding. Because consistency is far better than rare moments of greatness.

And…

Consi

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

stency leads to familiarity.
Familiarity leads to predictability.
And predictability leads to trust.

And

.

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

TRUST is foundation of all business.

Especially when it really IS a small world after all!

LET ME ASK YA THIS...

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

Companies that provide selfless information through particip

What's your most predictable brand moment?

LET ME SUGGEST THIS...
Post your answer on my blog for the world to see

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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