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Advice You - Branding: What It Means To Your Business
Do you know what the most recognised item in the world is ... it's the coke cola, believe it or not. A vacuum cleaner is not
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
known by its proper name, but instead is known by a brand name – a Hoover (a manufacturer of vacuum cleaners). A photocopie
; 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
r was known for years not as a photocopier but as a Xerox machine – a manufacturer of photocopiers, a brand.
This is how imp
This is how imp
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
rtant branding is to businesses. Billions of pounds are spent every year by companies on branding and brand recognition. Th
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
ink about your last trip around the supermarket – how many brands were screaming at you for recognition and to pry money out
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
f your wallet?
Whatever your business, whether you are a small family concern or a multi-national conglomerate, proper busin
Whatever your business, whether you are a small family concern or a multi-national conglomerate, proper busin
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
ess branding is vital for you.
Branding is more than just a logo design, it’s almost an ethos, it permeates everything you d
Branding is more than just a logo design, it’s almost an ethos, it permeates everything you d
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
and are as a business. It’s on your business cards, your stationary, your leaflets, your posters, your adverts, your … you
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
get the picture?
A brand is how the public recognizes your company and your product. It’s an identity and association in th
A brand is how the public recognizes your company and your product. It’s an identity and association in th
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
minds of the public.
For example, would you pay the same amount of money for a Skoda compared with an Audi or a Bentley? N
For example, would you pay the same amount of money for a Skoda compared with an Audi or a Bentley? N
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
o of course not, yet they are owned by the same company. The Bentley is branded as being an expensive, luxurious car whereas
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
Skoda branding is cheap, reliable family car.
You can see from this why it is important to have your business branded. How
You can see from this why it is important to have your business branded. How
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
ver you are positioning your business, whether it is the high or lower end of the market, you need to brand yourself accordin
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
gly.
The “pile it high, sell it cheap” branding used by cheap supermarkets years back would have never worked for the percei
The “pile it high, sell it cheap” branding used by cheap supermarkets years back would have never worked for the percei
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
ed high end shops such as Waitrose and Marks & Spencer. This branding was dropped by the cheaper supermarkets when they gain
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
ed market share and started to aim their sights on more affluent customers.
What is your target market? Is it male, female?
What is your target market? Is it male, female?
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
Young or old? Trendy or traditional? High end, “posh” or cheap and cheerful, appealing to the masses? Luxury or practical
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
?
These are all questions you need to ask yourself and consider with your graphic designers when creating you corporate iden
These are all questions you need to ask yourself and consider with your graphic designers when creating you corporate iden
.
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
ity.
A corporate identity and brand is not exclusively the remit of large companies. It is something that every business fr
A corporate identity and brand is not exclusively the remit of large companies. It is something that every business fr
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
om the home based entrepreneur to the small and medium enterprise needs to use to establish their identity in the marketplace
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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