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Digg It - You Could Learn a Lot from a Fairy Godmother - How Disney Renewed my Faith in Loyalty and Marketing
I recently was fortunate enough to sit in on a Disney Institute session on loyalty. Not knowing what to expect,
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
I was shocked and delighted when a fairy godmother descended on the room (or rather burst through the doors) a
; 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
d began spouting off interesting information about Disney.
Of all the meetings I have ever attended, I have to
Of all the meetings I have ever attended, I have to
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
say, this is the one that I will always remember.
But aside from all the “wing and bling” she spread around th
But aside from all the “wing and bling” she spread around 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
room, I learned a lot about how Disney does marketing. My respect for the company has grown tenfold since the
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
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
u’ve been to a Disney theme park, you probably don’t remember anything particularly eventful about your interac
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
ion with a Disney Cast Member. But that’s the goal. Disney strives to make your experience with them seamless a
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
d enjoyable, and they succeed.
I realized I often go into places of business expecting to be disappointed. Aft
I realized I often go into places of business expecting to be disappointed. Aft
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
r all, I’ve been on hold for inefficient customer service for an hour, been served a poorly prepared meal, and
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
ave received subpar products one too many times to not be jaded. I realized Disney is the only place where that
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
doesn’t happen. I can actually have high expectations and they will still exceed them. As small business owners
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
we may not have the marketing budget Disney has, but we can definitely strive to exceed customer expectations.
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
• Identify core values. Your core values are often tied in to customers’ expectations. What does your company
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
do well? Flaunt it! After all, not everyone can do what you do!
• Create an experience. Even if you sell shoes
• Create an experience. Even if you sell shoes
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
online, there is an experience to be had prior to your customer putting on the pair of shoes. Make every point
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
f contact pleasant and make your customers enjoy doing business with you so much they want to come back often.
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
After the session, I realized that although Disney has become a multibillion dollar conglomerate, it didn’t 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
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
there by throwing money in the wrong places. It used basic principles like loyalty and customer appreciation to
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
become the number one theme park destination in the country (and world). We could all learn lessons from Disney
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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