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Main Subject - For Customer Stampede, Follow My Barber's Simple Plan
There are many examples of businesses able to increase their customer numbers overnight. Some have deep pockets and splash out on advertising. Others lower their prices or buy off the competition.
But these
But these
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
strategies are not viable for every business owner. Traditionally successful businesses have outlived their competitors by following strategies that charm their customers every so often. We all know that happ
; 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
customers bring even more customers.
This is possible even today, and for any type of business - whether a brick and mortar store, a website promoting goods or the combination of both.
Many businesses are
This is possible even today, and for any type of business - whether a brick and mortar store, a website promoting goods or the combination of both.
Many businesses are
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
already stealing the customers from under the nose of their far bigger competitors - without spending anything on marketing or advertising. Would you be interested to find out how they do this?
It is called
It is called
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
nderstanding your customer's hidden psychology. Remember this: all paying customers have one universal trait. They look for value for their money. Some customers are sophisticated enough and ask for more or i
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
dulge into bargaining. Others just pay the asking price and accept goods or service, but wonder whether they paid the right price or could get it cheaper elsewhere. Nevertheless, none of this group of custome
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
rs is an entirely happy customer.
How you make a customer a truly happy customer so that he wants to bring his friends to your premises?
Here is a true story that happened to me.
I have been paying a regul
How you make a customer a truly happy customer so that he wants to bring his friends to your premises?
Here is a true story that happened to me.
I have been paying a regul
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
r once a month visit to my barber for many years. He runs a very successful saloon. I have been loyal customer not because he is cheap but mainly because I am accustomed to his service and I do not want to ta
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
ke undue risks elsewhere either. During the end of one of my visits a few months ago, as I had just paid for his services, he said: 'Would you like to take away our top of the line bottle of shampoo - for fre
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
?'
He gets his own range of toiletries manufactured which he sells in his own or other saloons. But I was not quite sure why would do such a thing. OK, his margins are high, but giving away some thing free h
He gets his own range of toiletries manufactured which he sells in his own or other saloons. But I was not quite sure why would do such a thing. OK, his margins are high, but giving away some thing free h
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
d never happened before. Being skeptic, I gently inquired what the catch was? 'Nothing, just take it away and give us feedback on what I think of it next time I am in? Fair enough, I did as told.
On my visit
On my visit
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
next month, he asked how I got on with the Shampoo. I was quite happy and told him so. And he said: 'do you know any of your friends who may want to try our service, and our shampoo - both free of course?'
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
ow, I been in marketing for a long time and understand that this is one tactic large companies use to get new customers. But he had gone way beyond that. He had made me feel 'indebted' to give out names of so
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
me of my friends who he could contact to try out his services - for free.
Now my question is: If you got a call from a well known name asking you to try out their service for free, as well as collect a free
Now my question is: If you got a call from a well known name asking you to try out their service for free, as well as collect a free
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
oody bag, would you want to give it a try? Especially if your friend has happily tried them for years, are you likely to turn down the offer and distrust his recommendation?
Can you see the power of marketin
Can you see the power of marketin
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
? I know for a fact that 2 of my friends are now regularly using his services. What about the friends of his other customers? What about the friends of friends?
What did it cost him to acquire new customers?
What did it cost him to acquire new customers?
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
Almost nothing. They came along because they were offered a product or service that was perceived by them to be of higher value than they were able to get elsewhere.
Customers do not just look for cheap pri
Customers do not just look for cheap pri
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
es or the service with a smile any longer. They take these things as a given. If you want to steal customers from under the nose of much larger or a tougher competitor then be creative. Offer your customers s
.
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
ome thing that they perceive to be of high value.
You do not need to go shopping to give some thing free. Many alternative are already available - just look around. But the most important thing to remember i
You do not need to go shopping to give some thing free. Many alternative are already available - just look around. But the most important thing to remember i
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
: what ever additional you offer to your customers in exchange for either their money, referrals or leads - they must perceive it to be of high value. Else you will run the risk of being seen as a cheap stake
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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