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Advice Pool - Think the Unthinkable
What the people in business think they know about customer and market is more likely to be wrong than right. There is only one
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
person who really knows: the customer. In his book “Managing for results” Peter F Drucker has pinpoint very justifiable who i
; 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
the king of market. Brand managers and owner think themselves the leader of market. They let them think that they decide the
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
fate of market and they can carry their leadership in one segment to another segment easily with there brand name. Many have j
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
mp into this rat race.
When Xerox saw a big opportunity in PC market they planned to jump into this market with the brand nam
When Xerox saw a big opportunity in PC market they planned to jump into this market with the brand nam
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
e ‘Xerox’. They let themselves in thinking that both are of same kind of product. Customer will buy in their thinking and they
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
will buy Xerox name in PC. But to their surprise and million of dollar write off, they realized that customer take PC a very a
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
part product from the photocopier business. To them, Xerox represent photocopier. Xerox means photocopier.
Business people th
Business people th
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
nk that they know their customer genes. But customer’s genes are not hard and fast stable jeans like human genes. They keep ch
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
anging. ‘Our engineers had to suspend the law of nature to make this or that possible. “But customer has a very unique and dif
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
erent way of mind set. They can , very much possible, think that if it so much difficult, there may be a big chances that it w
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
ll not work at all. End result would falter of the product. Peter Drucker states, “No one company and brand is important 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”. Market defines rules for the game. A lot of play the game and efficient player in all the department become the leader.
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
But she is the leader not the market itself. If an organization goes down it can at most affect it employees, owners, sharehol
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
ders and the government. But not at all the customer. Customer has a vast option to decide on. He will switch his vendor, Simp
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
e and straight as bamboo.
But brand owner has a very unique way of market view. They see themselves not as leader of market b
But brand owner has a very unique way of market view. They see themselves not as leader of market b
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
ut the leader of customers. They themselves decide that customer will buy anything that they produce given the following in on
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
segment of market. While deciding on these strategies, they ignore the huge amount of data and facts available to them and fa
.
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
ncy themselves with speculations.
Billions of dollars has gone under drain only due to defocusing and fancy mind of mindless
Billions of dollars has gone under drain only due to defocusing and fancy mind of mindless
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
EOs of big boys of corporate world. And to my best of knowledge, these so called intelligent guys are not learning fast enough
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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