Advice You - Business

We all know why brands are so important in business, but what can a small business to cash in on brand marketing? W

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

e will discuss how brand marketing has been used in the corporate world and how these methods can be applied to smal

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

Examples of combination products may in

businesses, nonprofits and even government agencies.

Believe it or not it is very simple for a small business to a

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

opt a brand name marketing strategy. We will discuss secrets that I have used in growing my companies. As a Franchi

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

or, who started out as a very small business, I realized early on that we needed a brand marketing strategy if we we

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

Combination pro

e to grow into a state-wide operation.

Our company started very small like any small business, eventually we were 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

erating in 53 cities and then we decided to franchise. Within 10 years we have set up operations in 450 cities, 110

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

major markets, 23 states and four countries. Large corporations spend millions if not billions of dollars extending

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

their brand name and this is why many small businesses think they brand marketing is out of reach.

It is possible t

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

use brand marketing strategies in small business and it is possible to piggyback on larger brand names as well. I

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

ecommend that you use this book as an outline of various strategies to try in your small business to extend your bra

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

Following aspects would a

d-name. Also as you read you should use this as a thinking exercise in order to get you to think about the importanc

dd to the challenges in developing combination products:

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

of brand, enhancing your current brand name and developing it.

If you will apply these secrets of brand-name marke

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

ing for small business to your current efforts and future entrepreneurial endeavors then I am quite certain you will

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

be able to go further and faster. Brand-name marketing is not easy no matter if you run a nonprofit, government age

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

cy, corporation or small business, but if you want to succeed you must understand brand marketing principles and how

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

Professional from academic institutions, pharmaceutical industries, health care indust

they relate to consumer perception.

If you have bought books on brand-name marketing strategies perhaps you have be

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

n under whelmed with the information because it is not relevant to your small business; that is exactly why I have w

.

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

itten all these articles on Brand Marketing, as I feel the same way. I wish to thank you for reading all my articles

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

Companies that provide selfless information through particip

as it is my first attempt at writing on this subject. Perhaps this article is of interest to propel thought in 2007

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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A corporate gift that is appropriate, an executive gift that is appreciated, a client gift that is actually remembered; what actually works? Smoked salmon gifts have become in vogue for more than just party appetizers.

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Advice You - 2007 Thoughts on Marketing Your Brand - Small Business Series

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