Main Subject - Business

There is nothing a retailer wants less than for products that have already been sold to be returned and refunded. Those precious dollars that we

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

re once on the books are no longer. Some returns may not be significant in price, but they sure do add up, so it is important for any retail sto

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

Examples of combination products may in

re to have protocol and policy for handling these returns so that employees or managers can deal with the problem. This way the customer is sati

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

sfied while the store retains its sales. Some simple tips on how to flip those returns into exchanges can save your business a bundle of cash.

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

he first thing a customer service associate should do in the case of an unsatisfied customer is: truly listen to the customer's complaint. Not o

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

Combination pro

nly do customers want to be heard, but the employee will have a difficult time producing a solution to the problem if they do not listen carefull

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

y to the customers statements. The associate should wait until the customer is completely finished speaking before asking any still unanswered q

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

uestions about the return. Some questions the employee should be considering in their mind are: What is wrong with the item? Why are they retur

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

ing this product? What does the customer want? Quite possibly, the customer has already answered all of these questions and there is need for th

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

e employee to belabor those points. The associate may then proceed in asking the necessary questions to understand the nature of the return.

No

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

w that the customer service associate fully grasps the reason for the return and what the customer wants, they can offer any suggestions that mig

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

Following aspects would a

ht make a simple solution for both parties. For instance, the customer might want a different size or color, or perhaps another product would fu

dd to the challenges in developing combination products:

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

fill the customer's want where the other product fell short. Consider whether a better product is offered or if there are any alternatives that

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

the customer would find useful. Now this return has transformed into a sale. The associate should realize this is an actual sales pitch they ar

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

e performing so that both the store and the shopper come out on top.

The best way to deal with returns is to offer in-store credit for those ite

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

ms brought back. This will keep those sales within the store. If that is not possible, then telling the customer about current specials or disc

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

Professional from academic institutions, pharmaceutical industries, health care indust

unts might sway them to do more shopping, or even come back and shop some more. Remember, the most important thing is always to satisfy the cust

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

omer. The store may take a hit by loosing one sale, but odds are, if the customer is satisfied with the result of this return, they will most li

.

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

ke come back to this establishment. Consider some of these returns as good faith that more sales will come. Make sure you offer cash refund alt

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

Companies that provide selfless information through particip

ernatives, but be aware of the customers attitude so that you continue to have valued customer service standards in this competitive retail world

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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How do you motivate employees who already have everything? And how do you evaluate suggestions for improvement?

As you can probably tell, perceived value is what people are paying for. Perceived means what it brings to them mentally and emotionally as well as physically. Intrinsic value is mere physical replacement cost. For example, vitamins have an intrinsic replacement value of a few dollars, but they have a mental and emotional perceived value of comfort, hope, security and peace of mind because of enhanced life condition of well-being and longevity.

All businesses, large and small, need to plan how they present messages about their products and services to their market. The message needs to be clear, consistently presented and taken up by everyone in your company that contacts the public.

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