Tags |
|
|
Links |
|
|
Business Articles - Marketing Plans: Better Simple Than Not Followed
For all the marketing professionals, brilliant salespeople, crafty entrepreneurs, and self-proclaimed marketing wizards I've come across, very few of th
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
em have shown any prowess in developing, and certainly little in applying a sound marketing communications plan.
It isn't easy, but it's really not tha
It isn't easy, but it's really not tha
; 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
t hard, either. It takes some insight and serious persistence. But, even more important than that is simplicity.
Why? If a plan is too intricate or dif
Why? If a plan is too intricate or dif
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
icult to communicate, it likely won't be implemented.
Don't fret, though. I'm here to help. I've developed a plan for which the acronym is IMPACT, whic
Don't fret, though. I'm here to help. I've developed a plan for which the acronym is IMPACT, whic
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
h you can find in action at www.danskincreative.com. But, I'll use simplified language here, to get in the spirit of the title of this post. Anyway, he
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
re are the steps required:
Research: Use whatever is at your disposal (available studies; field sales reps; key customers; competitors; or focus groups
Research: Use whatever is at your disposal (available studies; field sales reps; key customers; competitors; or focus groups
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
if you sell direct to consumer) to determine where your company/products are positioned in the marketplace, existing perceptions, strengths and weakness
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
es, opportunities and threats (SWOT), successful marketing initiatives of the past (what worked? what didn't? and why?) how you stack up against competi
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
tion, etc.
Insights: Next, from cross-referencing this information with your company's business objectives (see: All About The Business Objectives) yo
Insights: Next, from cross-referencing this information with your company's business objectives (see: All About The Business Objectives) yo
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
will be able to identify key insights, which are opportunities that will motivate specific marketing action. Make a list of these and you're on to your
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
next step.
Plan: This is where you outline the marketing initiatives that integrate to address insights from the prior step. This might sound easy. It
Plan: This is where you outline the marketing initiatives that integrate to address insights from the prior step. This might sound easy. It
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
really is not. Not really. This is where the real marcomm strategy comes into play. This is where many companies call in marcomm firms like Danskin Cre
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
tive Communication, Inc. (even though we'd prefer to be involved earlier).
Investment: We don't need to tell you to be precise wherever possible when d
Investment: We don't need to tell you to be precise wherever possible when d
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
eveloping the real investment that you will have to sell up the ladder. If not, the "apologize later" mentality is sure to launch you into a new career,
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
or send you hobbling back to a cubicle.
Create: You know the strategy, the business objectives, and the market realities. Next comes the fun part. You
Create: You know the strategy, the business objectives, and the market realities. Next comes the fun part. You
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
get to implement the plan and execute the well-conceived marketing initiatives: the brilliant advertising, graphic design, brand development, public rel
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
ations, etc. Make sure you do it well!
Measure: This is an ongoing process and very impressive to show the C-levels what/how you will report to them. P
Measure: This is an ongoing process and very impressive to show the C-levels what/how you will report to them. P
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
lus, you can show them what metrics you'll use to ensure that adjustments will be made in a timely manner if particular initiatives are not succeeding.
.
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
his is also a great place to discuss how the marketing communication plan is alive and breathing.
Remember, keep it simple and don't fall victim to det
Remember, keep it simple and don't fall victim to det
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
ours. Once your plan is approved by the c-level, use that leverage to stay on message and track. Even have them sign a hard copy if that makes the point
tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.businessarticles.org.ua/article/28255/businessarticles-Marketing-Plans-Better-Simple-Than-Not-Followed.html">Marketing Plans: Better Simple Than Not Followed</a>
BB link (for phorums):
[url=http://www.businessarticles.org.ua/article/28255/businessarticles-Marketing-Plans-Better-Simple-Than-Not-Followed.html]Marketing Plans: Better Simple Than Not Followed[/url]
Related Articles:
Six Warning Signs That You Need A New Developer
Simple Risk Reversal Formula Will Send Your Sales Into Space (1 of 2)
The Seven C's: Partnership Danger Signs - Conflict Becoming the Norm - Part 1
Bookmark it:
|