Main Subject - Business

The key to meeting and exceeding the needs of your customers & clients is realising that each one is on their own journey with your business. From the moment a person becomes aware of your business and

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

becomes a prospect to the time they finish doing business with you - this is their journey. Some people call it a customer lifecycle - the key stages each of your prospects & customers go through.

Th

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

Examples of combination products may in

is applies whether you sell a product or a service. Creating a customer-centric business is about ensuring that at each stage of the customer lifecycle, the interaction your customer has with you is of

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

benefit to them but also totally & completely fulfils their needs. Each person goes through the following stages in their journey:

Awareness & Consideration > Select & Buy > Initial Experience > Use,

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

& Learn > Support > Repurchase & Recommend

So, let's look at each stage more closely:

Stage 1: Awareness & Consideration
At this stage, you need to consider what it is your pote

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

Combination pro

ntial customer wants & what it is they'll be looking for. This means you need to consider how it is they find out about you & how you get their attention. It is likely they want to know how you can he

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

p them, what benefits you can bring to them and whether what you offer will fulfil their needs. In all your communications with them (all your marketing materials), you need to make sure you provide th

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

em with what they are looking for in a format that is easy for them to access and understand.

Stage 2: Select & Buy
Creating a customer-centric business at this stage means you n

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

eed to consider how easy it is to buy from you. Generally making a customer jump through hoops before they can purchase anything from you is not recommended (unless you are trying to pre-qualify them f

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

r a specific purpose, but that is another strategy). Making the selecting & buying process as easy as possible for a potential customer is key here...have you ever decided to purchase something from a

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

website, only to find the shopping cart & payment process lengthy & tedious, which then makes you click off and go elsewhere?

Stage 3: Initial Experience
Post-purchase- or buyer-

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

Following aspects would a

remorse is the last thing you want your customers to have. The process of deciding to buy something can be long & drawn out (depending obviously upon the amount of investment required and what it is a

dd to the challenges in developing combination products:

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

ustomer is purchasing). Once they have made a decision, they often like to have that decision ratified. That is, they like to be convinced that the decision they made is a good one. If once, they actua

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

lly purchased your product or service, they experience initial problems with it, they are highly likely to form an initial impression, which can subsequently be hard to change, no matter how good your

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

subsequent customer service is. Get it right from the start and there will be no buyer remorse to deal with.

Stages 4 & 5: Use & Learn and Support
This is where you should never

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

ake your eye off the ball, Just because you have converted a customer, does not mean you can slack off when it comes to taking care of them. Remember the concept of customer lifetime value (how much yo

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

Professional from academic institutions, pharmaceutical industries, health care indust

ur customer will spend with you the total time they are your customer) and the fact that they may refer & recommend others to you. All your customer interactions at this stage are critical to keeping y

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

our existing customers happy, wanting to purchase more from you, stay with you longer and recommend you to their friends & family. Providing exceptional customer care during these stages is where you h

.

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

ve an opportunity to really stand out from the crowd.

Stage 6: Repurchase & Recommend
If you done all the previous stages right, you are going to get to this stage – if you haven

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

Companies that provide selfless information through particip

’t, you won’t! And of course, it stands to reason that if your customer has been delighted enough with your service to repurchase from you, they will be more likely to recommend you to friends & family

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.mainsubjects.org.ua/article/14426/mainsubjects-What-Does-CustomerCentric-Really-Mean-For-Your-Business.html">What Does Customer-Centric Really Mean For Your Business?</a>

BB link (for phorums):
[url=http://www.mainsubjects.org.ua/article/14426/mainsubjects-What-Does-CustomerCentric-Really-Mean-For-Your-Business.html]What Does Customer-Centric Really Mean For Your Business?[/url]

Are you interested in advertising as a small business, affiliate or for personal items? Are you also looking for free and/or reasonable advertising rates? If the answer is yes, I have compiled a list of ten free/cheap Advertising sites to help you place your ads.

Why did you become a hypnotherapist? It's great being a hypnotherapist as I have a great passion for what I do. Even though I work around about the same hours as the average worker, I never see myself as ‘in the rat race’ and I always have a spring in my step as I go off to work each morning. The job pays well, however I don’t see myself financially secure either – more like financially free as I do my job not for the money, but as my vocation in life.

Much like the runaway bride, the “runaway candidate” can have a devastating effect upon a potential employer. In today’s competitive market for top candidates, most employers consider a candidate “onboard” once they have accepted the job and signed their offer letter. I would counter we’re not at the finish line, or “honeymoon”, just yet.

Tags

Links

Main Subject - What Does Customer-Centric Really Mean For Your Business?

Related Articles: