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In this day and age where a single customer has thousands of brands to choose from, how can corporations in India protect their brands to become the first choice of any b

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

uyer?

Gone are the days when companies in India more or less operated in a monopolistic environment. Post liberalisation has not only led to an inflow of multinational c

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

Examples of combination products may in

ompetitors, but more so has increased the choices for the Indian customers. In such an environment, can companies protect their future just by looking at their profits at

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 end of the year? Certainly not. The concept of brand value is still at a nascent stage in the Indian market. However, companies in India today have just started real

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

ising the importance of brand as an economic value generator. The concept of brand valuation was pioneered by Interbrand Corporation, a global brand consultancy which gen

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

Combination pro

erates ranking for the Top 100 Global Brands every year. One of the most surprising things in the league table is that no Indian company ranks in the top 100. Does that m

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

ean companies like Infosys, Wipro, Tata and Reliance have not yet reached the level of being considered as ‘global’? In August 2005, the TATA brand was valued at $6 billi

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

on (over Rs. 30000 crores), a sufficient number to include itself in the top 50 global brand ranking.

Organisations must not look at brand valuation in isolation. Althou

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

gh, every company would be interested in knowing the value of its brand; the important thing is to learn how to sustain it and thereafter leverage that value within the e

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

ntire organisation’s system. Valuing an intangible asset like ‘brand’ is not driven by a formula. It is a logical analysis of every element that drives the value of that

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

particular brand. Indian management consultancy like Equitor have taken this a step further and have started developing a model that allows an organisation to convert it

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

Following aspects would a

s intangible assets into tangible outcomes through the use of a balanced scorecard.

Looking at the current scenario in the Indian market, there is no alternative to inve

dd to the challenges in developing combination products:

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

sting in brand as an asset to secure future earnings. And to make that future sustainable, it is how the brand behaves on a daily basis; which means how the brand makes s

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

ure that it is consistently meeting the promises it is making everyday in every interaction that the organisation’s stakeholders have with that particular brand.

What i

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

s interesting to realise is that many companies fail to understand how to live up to the promises it makes to its final customers. By using communication tools such as ad

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

vertising, organisations often tend to make the mistake of over promising. Why? Because most organisations often tend to try and fulfil that promise by focussing only on

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

Professional from academic institutions, pharmaceutical industries, health care indust

the final product or service; thus ignoring the entire channel that enables that product or service to reach that final customer. How would you feel interacting with a sa

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

lesperson at a BMW showroom who lacks a strong passion for ‘speed’? The point is simple. Every customer touchpoint should reflect the values of the brand. And to do this,

.

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

there is a logical step-by-step process which needs to be put in place.

Changing your customer’s perception about your brand is not difficult provided you give him/her

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

Companies that provide selfless information through particip

clarity as to what you are offering and prove it on the ground. This clarity cannot come through advertising. It is your actions that should speak louder than your words!

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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When starting a vending machine business you must first calculate how you will make a profit. You will have to consider the price of the vending machine and the price of your products.

Everyone is outsourcing non-critical tasks to India, and for mid-sized companies, a trip there for the purpose is de rigueur. This two part article describes in detail the planning one needs to do to maximize the success of that journey...

All companies have similar basic issues. The have to consider how they are perceived by clients, the public, prospective customers and their competition. Marketing materials define this perception. Marketing materials include business cards, promotional brochures, even broadcast commercials. It is important that the defining image of the business, the logo, has style, elegance and impact.

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