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Useful Advices - Buyer Beware the Extended Warranty Deal or No Deal
Experience is always life's best teacher. But ideally it is through somebody else's experience that you could learn a valuable lesson about exte
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
nded warranties.
What is the deal with extended warranties? Are they really an insurance against damage or malfunction?
What is the deal with extended warranties? Are they really an insurance against damage or malfunction?
; 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
A seasoned salesperson knows just when to propose the extended warranty; especially, those electronic store sales representatives. When you 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.
high on the purchase the salesperson poses the question, Would you like the extended warranty added to this purchase?. Now they Do NOT review th
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
extended warranty Terms and Conditions (T's & C's) outlining the things that ARE NOT covered by the extended warranty. In fact, some of them purpo
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
t (Like Future Shop which is part of the Best Buy chain of stores) it is a 'no hassle' insurance. BUNK!
Truth be told, the extended
Truth be told, the extended
ucts have become life saving products for the pharmaceutical companies who doesnt have many innovative molecules in their product pipeline and have been inc
warranty merely extends the manufacturer's warranty and is confined to the same coverage restrictions. It is interesting that the major area where
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
you would want coverage damage or breakage from impact IS NOT covered under an extended or a manufacturer's warranty. Review, up front,
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
he details of the extended warranty contract. You will discover lots of exclusions with respect to damage.
Consumer Reports Magazine surve
Consumer Reports Magazine surve
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
yed tens of thousands of its readers about their repair experience with an extended warranty. The repair cost usually was less than the extended wa
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
ranty cost. Consumer Reports Magazine concluded from this 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
">2002 research that extended warranties are NOT A GOOD INVESTMENT.
Studies have shown that electronic stores use extended warr
Studies have shown that electronic stores use extended warr
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
anties to bolster their profit margins on low margin electronic items. The extended warranty could add 30% to the cost of your purchase. Smooth-tal
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
ing efforts to sell customers extended warranties is usually part of a sales employee's compensation and job security.
An Extended Warrant
An Extended Warrant
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
seems to be a case of 'buyer beware'. Remember electronic equipment prices drop very quickly. Newer products are introduced every 6 to 12 months f
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
orcing that once 'state-of-the-art' item you have to be flushed from manufacturer's inventory at rock bottom prices to retailers and consumers. Th
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
s short product life-cycle creates a cut-throat competitive retail pricing environment among manufacturers and retail stores. Extended warranty sal
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
s improve a retail store's bottom line.
Instead of repairing your damaged product, consider replacing it via one of the on-line auctions.
Instead of repairing your damaged product, consider replacing it via one of the on-line auctions.
.
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
This bid-price for the exact used [undamaged] product you have could prove less cost than the extended warranty cost. You will have just saved your
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
elf some money and the frustration of arguing with a customer service representative to have an extended warranty claim honored by the retail store
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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