Advice You - Business

With all the doubletalk nowadays about brand strategy and the correct way to go about it, it’s no wonder so many companies are showing signs of brand schizophrenia. Brand experts would have us all believe

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

that branding is either A.) very difficult and complex or B.) magic, created with mirrors and fairy dust.

Nonsense. Branding is a simple process based on sound principles. Companies just

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

Examples of combination products may in

eed to think it through.

Branding problems really boil down to three main scenarios:

1. Companies that try to be what they think their customers want them to be

2. Companies th

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

t have done nothing about their brand

3. Companies that get mired in analysis paralysis — over-thinking market segmentation, competitive positioning, value propositions, long-term objectives, s

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

ort-term objectives, qualitative research, quantitative research, etc. etc. etc. (All of this is important, of course, let’s just not get stuck here.)

What few branding experts seem to be talking about

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

Combination pro

s how companies need to be “themselves.”

Lost in the sea of sameness

Most companies don’t stand out in the marketplace “sea of sameness.” And because they don’t stand out, they are not connecting

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

ith potential customers. These weak brands strain resources and give the feeling of working harder for less.

The main reason most companies don’t stand out is because they don’t know “who” they are. So

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

e think they need to be like their potential customers in order to connect with them, so they bend over backwards trying to be what they think the market wants them to be. They try on many different lo

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

ks and change with the trends, having many different images and personalities at the same time, or one after the other. This only confuses would-be customers and dilutes any competitive advantage.

Some

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

companies just don’t pay attention. Their business groups work in silos, and, under the guise of decentralization or pushing down authority, the brand has run amok. There’s no consistency for customers

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

to grab on to or recognize.

And still other companies work on their brands . . . and work, and work, and work. They go from one branding agency to the next, trying to get the “right formula” for su

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

Following aspects would a

ccess. Or they spend a bundle and two years worth of time doing research and having meetings and never making a decision. Or they make a decision, but after all that “work,” the brand solution is so beaten

dd to the challenges in developing combination products:

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

to a pulp that no one remembers how they got there or what the point was anymore.

What about being yourself?

Stop! Let’s think about this for a moment. Isn’t the purpose of branding to present you

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

company to your audiences? (Bear with me here.) Don’t you actually want your customers and potential customers to know you, to recognize you, and to connect with you? And if marketing is like having a con

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

ersation, a relationship with your customers – don’t you think they should get to know the real you?

Companies need to be authentic with branding. They need to find their own identities based on 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

ir values, character, and personality, and translate these identities into strategic representations. Then, these authentic representations, when used with consistency over time, will help customers recogn

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

Professional from academic institutions, pharmaceutical industries, health care indust

ze and connect emotionally with them, so the company can gain a competitive advantage in the marketplace.

Think about your favorite brands. I’ll bet dollars to donuts your favorite brands got where

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

they are by being authentically themselves – think the freedom of individualism, like Harley-Davidson. Or cool design on a budget, like Target. Or a great brand experience, like Starbucks. You get the poin

.

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

. They’re themselves, and you love them for it.

So, the next time you think about working on your brand, go ahead -- it’s okay to think about what your customers want from you. And it’s good to do the res

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

Companies that provide selfless information through particip

arch and analysis too – but start by looking inward, at your company’s authentic self. Your core values. Your culture. Your imperfections and your little-known secrets. Your brand will be the better for it

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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Advertising in the paper works for many people in business. The astute merchant understands the newspaper’s weaknesses and works to avoid them whenever possible.

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Advice You - The 3 Main Problems with Branding

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