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Advice You - Parity Busters
In reality, your company’s products and/or services are very likely perceived by the marketplace as a commodity.
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
In many cases where you’ve won market share, it is likely due to the fact that your account managers were bette
; 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 networked or better liked, were more persistent, or your main competitors simply blew the account, handing 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.
the business. Unfortunately, these scenarios are the exception. The rule is that it can take some dumb luck, an
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
a great deal of time, too.
Everything today seems to be moving faster. And that means that even when you devel
Everything today seems to be moving faster. And that means that even when you devel
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
op new products or services, competition is responding more quickly. So, how do you differentiate in this enviro
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
nment of parity? Below are some initiatives in which companies can invest to differentiate their product/service
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
from their competitors, improve their positioning and steal market share by capitalizing on real and perceived s
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
trategic, tactical, and cultural advantage.
The Parity Busters
1. Corporate Culture Marketing – Developing and
The Parity Busters
1. Corporate Culture Marketing – Developing and
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
communicating a program of measurable value-based initiatives that project your organization above the competit
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
on (read more).
2. Leadership Excellence – By developing your leadership team and teamwork, you will gain s
2. Leadership Excellence – By developing your leadership team and teamwork, you will gain s
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
trategic and tactical advantage by streamlining the decision-making process, which improves responsiveness to ma
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
rket opportunities and broadens competitive advantage (read more).
3. FLOT line Marketing – The Forward Lin
3. FLOT line Marketing – The Forward Lin
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
e of Own Troops in marketing is where your focus should be in order to make headway against your competition. Th
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
objective is to give your account team an upper hand through superior marketing initiatives that will provide t
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
he greatest visibility and exposure possible to your account managers, products, services and messaging. It is c
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
ritical to consider the most effective mix of both technology marketing initiatives and traditional approaches,
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
.e. podcasting/association events.
Take advantage of both real strategic and tactical advantage and the buildin
Take advantage of both real strategic and tactical advantage and the buildin
.
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
g of perceptions which will differentiate your organization in the marketplace in which it competes. For more in
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
formation on how to develop these opportunities within your organization, contact Danskin Creative Communication
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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