Useful Advices - Business

Customer satisfaction and loyalty to a product is very important in any company, be it a company that is consumer oriented or a company that sells to other businesses, but is a custome

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

r satisfaction guarantee really realistic in business?

What some companies do in order to attract the consumer’s loyalty is to attach a customer satisfaction guarantee behind any prod

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

Examples of combination products may in

uct they sell. What attracts consumers to these customer satisfaction guarantee offers is that they are straightforward, easy to understand and you know it to be true.

However – some

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

times the more often a company advertises the customer satisfaction guarantee, the more often consumers are turned off by the company. Another important thing that companies have to t

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

ke into consideration before presenting any guarantees in relation to their products or services is that they should have their attorneys review the guarantee because it might have leg

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

Combination pro

al repercussions.

Here are three examples of companies using customer satisfaction guarantees on their products:

1) L.L. Bean trademarked its “Guaranteed, You Have Our Word” motto an

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

d beneath it written in smaller lines read that their products guarantee their consumers 100% satisfaction. If, for whatever reason, the consumer did not find it to his satisfaction,

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

he can return the product at anytime as they do not want their consumers to have anything from them that is not at par to their satisfaction. Consumers seem to like this motto a lot a

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

it is straightforward, direct and easy to understand.

2) Lands’ End uses “Guaranteed. Period.” as its motto, and they also went so far as having the motto trademarked. Like L.L. Be

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

an’s, it is also direct and straight to the point. They also that if the consumers do not find the product to their satisfaction, they can also have the item returned at any time so t

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

hat they can have their money back. This also assures the consumers of money back if they are not fully satisfied. But they also added more text underneath – too much information – th

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

Following aspects would a

us, confusing the consumers. Unlike the first motto, this company added confusion to an otherwise easy-to-understand motto.

3) Thirdly, Sears created their own motto of “Satisfaction

dd to the challenges in developing combination products:

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

Guaranteed or Your Money Back.” Okay, it sounds very interesting. It simplifies what the other two companies have said and seems to be much more direct. If you are not satisfied wit

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

h an item, you can have your money back. But written below are more jumbled words that confuse the consumers more! They are asking for the original packaging, original packing slip a

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

nd order confirmation email receipt before a refund or an exchange of the item. Then more and more words that I, as a consumer myself, think of as being a big mouthful, all lawyerly a

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

nd all businesslike. Their lawyers and accountants might find these useful, but not your average consumer. What this shows to the consumers is that if a product is not to the satisfa

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

Professional from academic institutions, pharmaceutical industries, health care indust

tion of the consumer, he is definitely going to have a hard time getting his money back or returning the item for an exchange! Now tell me if this can build loyalty with the consumers

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

? It doesn’t, does it!?

Your average customer will always go for a direct and easy to understand customer satisfaction guarantee. The more words a company places below their guarante

.

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

e, the more confused a consumer gets. Like any other products, you have to fit your guarantee to the product that you’re selling, but it doesn’t mean that you have to confuse your con

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

Companies that provide selfless information through particip

sumers with how they can get their money back or how they exchange the item if what they purchased wasn’t to their satisfaction. Keep it simple, guys - direct and uncomplicated please

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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