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Main Subject - Retaining Savvy Customers
I have been with my web provider Lunarpages* since 2003, when I launched my (the web portal, now blog) Sensei Michael. Throughout the 4 ye 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 ars I've been with my provider, there's been hiccups (like when China blocked my original server) and other problems - but their staff has ; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug. Examples of combination products may in always been around to assist. They may not be the cheapest (but cheap enough for me) but the customer service aspect really won me over. 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 latest story about Customer Service** from their blog tells a lot about what it means to keep customers. In this case, it was interes here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe ing that Company A was cheaper than Company B but the customer still kept on with Company B. Company A used to be the service provider - d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations. Combination pro and created no lengths of frustrations for the customer. Why then did the customer stick on with Company A for so long? Well, Company A ha 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 s the monopoly in the area, so the customer has no choice. This is one important aspect of customer service all must learn - if you can ma 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 ke the change of service providers so painful (Micro$oft is one example) or near impossible (China Telecom!), you can still keep nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically our customers even with horrible customer service! It's something worth thinking about. Then Company B came along. The problems are still 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 there (another lesson to learn for customers - don't assume that problems disappear when you change service providers), except that Compa ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi ny B makes the problems their problem and attempts to solve them to the satisfaction of the customer (in the case of Company B, they were ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it. Following aspects would a resolved so well that the customer probably was not even aware there was a problem in the first place!). Interestingly, I've also long th dd to the challenges in developing combination products: Which markets to tap where the combination products can do fairly well? Which combination prod ught over how the superior customer service scenario would play out here in Shanghai. Superior customer service only works on savvy custom cts are meaningful and rational? Which therapeutic categories to select? Which Combinations can address unmet needs of the patients? Do combin ers (those whom relationship, value or branding appeal to them). When you have customers who are only looking at the bottomline (the lowes tions increase the patient compliance? What would be the developing cost? How to tackle the risks encountered during combination product developmen t possible price), customer service may not mean anything at all. And trust me, there are a lot of them here. And when you get customers 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 who, by reason of limited financial ability, have no choice but to use your service - you've got a captive customer group whom you can aff ping new procedures for reviewing their safety, efficacy and quality. Professional from academic institutions, pharmaceutical industries, health care indust rd not to provide good customer service, turn a deaf ear to their complaints, and still have the cash rolling in semester after semester. y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products Now that sure is a wonderful business model for any businessman! At least until a competitor matches your price and gives better . 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 elopment. They need to be wiser in analyzing the market trends and the regulatory requirements. Companies that provide selfless information through particip 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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