Advice You - Business

You've heard the adage Keep It Simple Sweetie (K.I.S.S.)? Well, that saying couldn't be more true when it comes to persona

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

l branding. Like many areas of life, keeping things simple is the most effective tact and personal branding is no exceptio

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

Examples of combination products may in

n.

No matter how challenging or 'unique' your business is your brand will always be more relatable and effective when you

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

target audience can understand it in mere seconds. If you find yourself having to over educate your audience, that's a su

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

re sign that your brand has not passed the K.I.S.S. test.

The most powerful personal brands are built on a three-prong ap

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

Combination pro

roach - your brands three most critical messages that are simple, direct and one-of-a-kind. Like a tripod, omitting even o

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

ne of these three elements can negatively impact the stability of your brand.

To ensure that your tripod is well balanced

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

on all sides, check for the following brand elements:

1. What you do

How are you describing yourself when you're

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

asked the 'what do you do' question? If you find yourself saying things like:

"I'm in real estate"

"I'm a Life Coach"

"

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

I sell skincare"

"I'm in sales"

You're saying very little about what you actually do and instead, are describing a funct

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

on. Consider how you benefit your clients/customers. In what way do you affect their lives? THAT is what you do!

2. Ho

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

Following aspects would a

w you create value for others

When you know what you 'do,' you are in a much stronger position to describe how you cr

dd to the challenges in developing combination products:

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

eate value for others. Don't make the mistake of confusing your 'do' with your 'value.' Instead, think of your value as th

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

unique way(s) in which you deliver your 'do.'

3. How you're different from your competition

The three legs of yo

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

ur brand tripod are well balanced when you also include how your 'do' and 'value' differ from that of your competitors. Th

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

s is one of the reasons why understanding your competitive landscape is important. Many small business owners omit this st

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

Professional from academic institutions, pharmaceutical industries, health care indust

ep and therefore are at a disadvantage in clearly articulating how they differ from others.

When you can clearly express

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

all three elements of your brand, in a simple and clear message, you are making the decision to do business with you an ea

.

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

ier one for your audience. Communicate all three points in everything you do (brochures, elevator speech, flyers, internal

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

Companies that provide selfless information through particip

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 - Does Your Brand Pass the KISS Test?

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