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The store sign blares, “Divorce Today…$199,” another trumpets, “Rolex Watches – Cheap,” and the next one shouts, “4 tires, $120.” Discounting is everywhere, advertising a common message – low price and cheap service.

Discounters wreak havoc on t

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

he rest of us who charge for a premium service. With so many businesses advertising low price, it makes customers ultra price sensitive. In your case, the customer is a real estate agent, and more of them are becoming price sensitive to fees charged b

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

Examples of combination products may in

you.

What’s Your Fee?

The agent asks, “How much do you charge the client?” The loan officer replies, “I charge a point on the front and one on the back.” The Agent appearing stunned says, “That seems unfair, why are you

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

harging so much?” The perturbed loan officer utters, “That’s what I’ve always charged.” The agent leaves, never to return again.

Hopefully this has never happened to you. Instead, you should expect the opposite when you understand how to get ag

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

nts to support your fees. Rather than agents questioning how much you charge, they’re explaining to the client why your service commands a premium.

Marketing is your opportunity to shape their perception of your service, before appealing to the

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

Combination pro

about a relationship. It should educate an Agent, ahead of you meeting them, about the quality of your service, which is in direct proportion to the size of your fees.

It’s like luxury automobiles. Seldom does someone walk into a Lexus dealership

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

and haggle over price. Marketing has shaped their buyer’s perception of quality, prior to walking into the showroom, to defend the price.

How to Describe Your Service

Is your brochure shaping perceptions of your service? In many case

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

s, brochures brag about service with unproven statements like, “We deliver great service.” And when a loan officer is questioned about fees, they struggle to prove the worth of it.

If you want agents to truly understand the quality of your service, you

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

marketing has to express it. Begin by making your service tangible. If an Agent can’t see, hear, or touch it, they’ll create their own perceptions, one that won’t support your fees. It’s not good enough to just say, “We deliver excellent customer ser

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

ice.”

Here’s how to make it tangible:

See it – Many agents are visual processors. Use pictures, graphics and flow charts.

Hear it – Client testimonials recorded on CD or as an audio file loaded on your website.
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
i>
Touch it – Use the finest, highest quality of materials and a variety of packaging.

Make It Trivial

For instance, develop an outline of the loan application process and describe it in steps, i.e. “Our Exclusive 12

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

Following aspects would a

tep Process.” Better yet, develop an outline of the communication between your office, the agent, and the borrower during the loan application process. Let the focal point be a flow chart with graphics, since it’s excellent for agents to visualize.

Be

dd to the challenges in developing combination products:

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

ore Descriptive in the Details

When you describe your staff, mention the number of combined years of experience, “Our seasoned staff combines over 150 years of mortgage experience.” Use pictures and biographies to make an emotional connection.

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

And as a personal favorite, use details to describe what’s involved, “Over the course of a loan, a production assistant, two processors, a manager, two underwriters, myself and 20 sets of hands will touch your file.”

The FAQ

You can create a su

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

pplement brochure that answers the most frequently asked questions. Questions should be answered in sequential order from easiest to toughest. About half way down the list, include questions that address your fees. A tool like this can help an Agent d

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

fend your fees when the client questions them about it particularly.

The Three Amigos

So why should any Agent care about doing business with you? Because of what you can do for the Three Amigos. Who are they? The same three people you care

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

Professional from academic institutions, pharmaceutical industries, health care indust

about – me, myself and I. Agents are people too, aren’t they? Well, maybe not…?

For example, if you’re consistent at producing referrals, isn’t this a reflection of quality service? And if the referral benefits the Agent, isn’t this a powerful rea

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

on that explains why your fees are a premium?

The exciting news is, the more an Agent understands how they directly benefit from your service, the higher a fee can be incurred. Are you thinking what I’m thinking? Exactly! How can you describe serv

.

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

cing clients after the loan closes, so you produce referrals for the Agent (and yourself)? Since many agents have this gap in their marketing, they’ll appreciate you more.

By making your details trivial, being more descriptive, and educating how they d

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

Companies that provide selfless information through particip

rectly benefit, you’re helping an Agent rationalize emotionally and logically why your service commands a premium. By doing this, they’ll be less likely to question your fees and help clients understand the value of your service and why it’s a premium

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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