Cases - Business

Henry Ford didn't invent the car. He wasn't even the first manufacturer of the car. In fact, when he jumped into the industry, there were more than 500 m

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

anufacturers building automobiles. That's a heavy market. It's what some call a red ocean, tainted by the battling competition. So, why is it that we thi

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

Examples of combination products may in

k of Ford when we think of cars? Because he didn't sail that red ocean. He made a blue ocean strategy that not only built long-term brand equity, but bro

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

ught the cost of a car down from $1,500 to $250 in a matter of a few years, sending him into uncontested market space.

Not long ago, W. Chan Kim and Ren

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

e Mauborgne detailed the benefits of a blue ocean strategy in the Harvard Business Review. They define a red ocean as an existing industry where value is

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

Combination pro

lost to cost-cutting warfare. On the other side, a blue ocean strategy is one that creates new markets through differentiating, much like Ford.

This sa

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

e strategy should be applied to new product development. Of course, innovating product lines to win the competition's customers and cutting manufacturing

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

costs with better designs is important, but creating entire new markets and categories untouched by competition and keeping costs low paves the way for

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

eal success.

Recently, we worked with a Canadian company, Calego, which focuses on matching character licenses with a variety of products, some of which

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

fight in a red ocean. They were seeking new innovations for licensed characters. We could have slapped these images on current products with hopes they

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

ould sell by the license alone, but it would have been a waste of the value. Instead, we decided to search for a blue ocean strategy. What's something ne

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

Following aspects would a

w? What's something no one has done in the market?

We found that consumers with young children were having difficulty keeping the children focused at th

dd to the challenges in developing combination products:

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

dinner table. With toys and technology vying for dinnertime attention, children are often not sitting still, much to the grievance of their guardians. S

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

o we set forth to open this doorway with a line we call interactive mealtime parents. We set a goal to turn otherwise normal mealtime products, such as p

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

ates, cups and bowls, into real attention-grabbers for children.

We created the Dinner Spinner™, a plate that spins at a touch of a button; the Talking

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

Tumbler™, an interactive cup that talks when a child picks it up; and the Slide Show Tumbler™, which sends a lighted film strip rotating around the cup w

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

Professional from academic institutions, pharmaceutical industries, health care indust

en activated.

Taking this blue ocean strategy approach for our client, Calego, has led to an almost endless supply of products for us to experiment with

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

in design -- and without the fear of a lot of competition standing in our way.

Build value and brand equity by becoming recognized in markets without a

.

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

lot of competition. Applying a blue ocean strategy to product development gives you room to grow comfortably and it places you in plain view of your cust

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

Companies that provide selfless information through particip

omers. Otherwise, you'll be forced to bump shoulders, nearly invisible in a crowded sea of competitors, and forced to sacrifice value to make it all work

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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Cases - Applying Blue Ocean Strategy to Product Development

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