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Useful Advices - Cellular Retailers Must Greet Customers within 30 Seconds - Study
A simple hello can go a long way in wireless retail, but a recent J.D. Power and Associates customer satisfaction study makes a sta
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
rtling case for the conventional in-store greeting. The study found that overall customer satisfaction declines considerably if cus
; 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
tomers’ wait time (the time before customers are greeted upon entry) exceeds 30 seconds.
This finding is particularly poignant sin
This finding is particularly poignant sin
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
ce the average wait time among wireless retail stores is about five minutes. According to the study, customers who are approached w
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
ithin 30 seconds of entering the store provide a satisfaction score 86 points higher (on a 1,000-point scale) than customers not gr
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
eeted within 30 seconds.
Currently, only 39 percent of wireless customers report being greeted within 30 seconds, while customers
Currently, only 39 percent of wireless customers report being greeted within 30 seconds, while customers
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
who are not greeted promptly are 32 percent less likely to visit that store again.
Time spent waiting to speak to a salesperson is
Time spent waiting to speak to a salesperson is
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
also critical, say J.D. Power and Associates, as overall satisfaction declines considerably when that wait time exceeds one minute
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
. Only 28 percent of customers report speaking with a salesperson within one minute of entry.
“With fewer new wireless customers e
“With fewer new wireless customers e
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
ntering the market, the wireless industry is becoming fiercely competitive for retailers,” said Kirk Parsons, senior director of wi
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
reless services at J.D. Power and Associates, in a release.
“Wireless carrier retail stores (and independent dealers) face strong
“Wireless carrier retail stores (and independent dealers) face strong
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
competition from national electronic retail outlets such as Best Buy, Circuit City and Radio Shack, which tend to perform better in
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
initially greeting customers. It’s imperative that wireless (retailers) concentrate on setting the proper expectations and provide
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
customers with a timely and efficient sales transaction.”
Efficient sales transactions are also important since the study found t
Efficient sales transactions are also important since the study found t
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
hat wireless retail transaction time goes up, customer satisfaction goes down. The average wireless retail transaction takes nearly
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
an hour to complete, from customer entry to store to paperwork completion and product delivery.
Other key findings:
Overall cust
Other key findings:
Overall cust
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
omer satisfaction with major wireless carrier-branded stores was based on four factors:
sales staff (51%)
store display
sales staff (51%)
store display
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
(17%)
store facility (16%)
price/promotion (16%)
Among customers who visited a wireless retail store in the past
store facility (16%)
price/promotion (16%)
Among customers who visited a wireless retail store in the past
.
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
six months, almost half (46%) did so to renew or change an existing wireless plan.
another 16 percent were first-time wireles
another 16 percent were first-time wireles
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
s customers
Retail satisfaction declines by 104 points among customers who report they were pressured during the sales process
Retail satisfaction declines by 104 points among customers who report they were pressured during the sales process
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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