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You are here: Home > Business > Customer Service > Are Your Frequent Customers Freeloaders, Scoundrels or Cheats |
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E-Folder - Are Your Frequent Customers Freeloaders, Scoundrels or Cheats
Many companies reward their customers with a system for accumulating points with each purchase. These points are redeemable for free products or services in the future. Fly enough on the same airline and yo 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 u get a free ticket. Stay enough nights with the same hotel and you can enjoy free weekends. Rent cars from the same company again and again and free upgrades will be yours. Buy coffee or ice cream nine time ; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug. Examples of combination products may in in a row and the tenth cup or cone will be free. This habit of gathering points is widespread and familiar, but customer experiences when redeeming these points are incredibly inconsistent. Some companies lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together. go out of their way to make you feel truly rewarded for the loyalty you have shown. Others treat you like a freeloader and dish out only the lowest level of service. This is a cultural (and business) issue here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe f the highest order. Here are a few examples: An ice cream store ran a promotion to encourage frequent buyers. If you ate ice cream enough times during the promotional period, you earned a coupon for one fr d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations. Combination pro ee ‘all-you-can-eat’ session of indulgence the following month.
service they deserve: appreciate them, acknowledge them, praise, thank and take good care of them. Re
One of my students earned the coupon 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 went to enjoy his indulgence. The first scoop of ice cream was presented in an attractive glass bowl with a clean spoon. His second scoop was placed back into the same glass bowl, with a new spoon. The thir 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 d scoop came back in the same glass bowl again, with the same old spoon. The fourth scoop was served in a paper cup with a small wooden spoon. The fifth scoop came back in the same paper cup with the same wo nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically den spoon and a glower from the manager in charge. My student did not stay for any further scoops in his ‘all-you-can-eat’ celebration...and has not returned to that store for ice cream again. He noted, ‘I 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 felt humiliated by the staff, as though enjoying my all-you-can-eat prize was in some way cheating the store. Hadn’t I earned my coupon? Didn’t I deserve to enjoy the prize?’ One popular airline encourages ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi frequent flying with ‘double miles’ promotions and special ‘tier bonuses’ for very frequent flyers. One of our subscribers tried to use her points to book a free award ticket in First Class, but the airline ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it. Following aspects would a efused to confirm her reservation. The airline’s approach was to sell the seats first to ‘real’ paying passengers, and then ‘give the seats away’ to frequent flyers if they were still available at the very l dd to the challenges in developing combination products: Which markets to tap where the combination products can do fairly well? Which combination prod ast moment before departure. How shortsighted! How does the airline think the passenger accumulated all those points in the first place? By flying as a ‘real’ paying passenger, of course! Contrast this app cts are meaningful and rational? Which therapeutic categories to select? Which Combinations can address unmet needs of the patients? Do combin oach with the more enlightened view of Starwood Hotels and Resorts. Redeeming an award with Starwood is fast and easy, and the service you get in the hotel is especially warm and attentive. The Asia-Pacific tions increase the patient compliance? What would be the developing cost? How to tackle the risks encountered during combination product developmen Manager of Customer Care explained it to me this way: ‘If someone has enjoyed an award before, they will strive to earn more points.’ Listen carefully to the language: 1. Enjoyed an award means Starwood ma 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 es a special effort to ensure the customer is pleased with his or her entire redemption experience: booking the award and enjoying the award. 2. They will strive to earn more points means customers will go ping new procedures for reviewing their safety, efficacy and quality. Professional from academic institutions, pharmaceutical industries, health care indust out of their way to accumulate Starwood points by staying in Starwood properties, dining in Starwood restaurants, bringing more visits, more revenues and more profits to Starwood. Key Learning Point Anyone y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products who redeems a frequent buyer award has already proven their loyalty to your organization. The experience of ‘winning’ should make customers eager to come back and win with you again. Remember, what they get . 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 from you is not ‘free’ – they earned it. Action Steps Review the procedures for your ‘frequent customer program’. Make sure these temporarily ‘non-revenue’ customers are treated with the high level of spec elopment. They need to be wiser in analyzing the market trends and the regulatory requirements. Companies that provide selfless information through particip al member, ice cream is everywhere and airplane seats are abundant. Giving personal recognition and appreciation through your ‘frequent customer program’ will ensure that your best customers keep coming back 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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