Advice You - Business

A brand is a single concept that represents everything about a company. It distinguishes your products and services from the competition while adding value. Only the busi

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

nesses that communicate real value in today's world of high expectations will succeed. What makes you unique?

The ultimate goal of branding is to own a product category

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

Examples of combination products may in

for example, Kleenex® owns the idea of “tissues” in the mind of the general public. Branding identifies and defines the basis for all communication, from packaging to pu

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

lic relations. It is the personality and the soul of your company.

Creating a strong brand will have a large affect on your bottom line and allow you to pull more ROI fr

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

om your ad dollars. When a customer is loyal to your brand, price becomes less of issue.

Elements that make up a successful brand include:

Relevance: Do your potential

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

Combination pro

ustomers think that they need your product? How does it make a positive difference in their lives – does it make their lives easier? Does it make them feel good about the

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

selves? Does it help define who they are?

Differentiation: The benefits of your products/services are unique from your competition, ie “unique selling proposition” or “c

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

ore competency.”

Brand awareness: Do people know that your company and its products exist? If so, do they have top-of-mind awareness? Brand awareness leads to brand pref

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

rence...and that leads to brand loyalty!

Consistency: Consistency in all your communications about your business and your products is critical in establishing a brand. I

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

consistency creates confusion and has a negative effect on brand identity.

Defining yourself

Let's say your company sells a new kind of coffee. You should use these que

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

tions as a guide to develop your message and ultimately your brand. How does it differ from other coffees? What are you communicating about your brand with your packa

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

Following aspects would a

ging? Are customers getting a bargain or are they paying a bit more for a superb experience? Why would customers choose your coffee over another brand? Does your cof

dd to the challenges in developing combination products:

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

ee remind a customer who he/she is and tell the world around them who they are? Who are your customers? Are they female NASCAR fans, managers of private clubs or male ex

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

cutives hurrying off to the office?

You know who you are. Now what?

Once you have defined your company and products, you should focus on these issues to help differenti

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

ate you from your competition. Does your logo help customers define your product at a glance? Have you developed the best image to represent your products? Do you hav

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

a tag line – a phrase that describes your product and helps customers identify it in any medium, from Web site ads to print advertising? What is the appropriate tone f

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

Professional from academic institutions, pharmaceutical industries, health care indust

r your advertising? Is an animated character appropriate, or should you get right down to business with a high-impact look in your ads and text with a serious sell? Wha

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

t language will you use in your ads? Do you want your product to be perceived as offbeat, mainstream, clever or practical? What best reflects your brand? What media do

.

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

our customers use? Are they more likely to learn more about your product through television advertising or an e-mail blast? A brochure or a billboard?

Careful branding,

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

Companies that provide selfless information through particip

nd subsequent strategizing and application, can result in increase sales, more customers and an ability to increase the value and, therefore, the pricing of your products

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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