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Just Other Articles - How Much Is Your Popcorn Worth? Powerful Lessons In Marketing & The Psychology Of Selling - Part 3
To read the beginning of this special report, you can read part two here: http://ezinearticles.com/?id=58712
Let's continue to discuss the various marketing principles that are involved in "popcorn marketing":
2. Utilizing (and Creating) the Right 'Frame of Mind'<
Let's continue to discuss the various marketing principles that are involved in "popcorn marketing":
2. Utilizing (and Creating) the Right 'Frame of Mind'<
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
/b>
Having popcorn on it's own may not mean much to people, but having it while enjoying a movie is something entirely different. It's this 'frame of mind' that cinemas are taking advantage of by providing the popcorn when you really want it!
They're selling it when
Having popcorn on it's own may not mean much to people, but having it while enjoying a movie is something entirely different. It's this 'frame of mind' that cinemas are taking advantage of by providing the popcorn when you really want it!
They're selling it when
; 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
nd where you're most ready to buy it. If they tried to sell you popcorn an hour before or after the movie screening, they would have a hard time convincing you to buy their over-priced popcorn. Similarly, if they tried to sell you the same over-priced popcorn on the si
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
e of the road, you'd probably laugh at them.
This is a very important concept to understand. Timing is everything! It's easiest to sell to a customer when he is ready to buy! Not when you're ready to sell. (And yes, there are ways to get the customer 'ready,' which I'
This is a very important concept to understand. Timing is everything! It's easiest to sell to a customer when he is ready to buy! Not when you're ready to sell. (And yes, there are ways to get the customer 'ready,' which I'
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
l discuss shortly.)
The other 'frame of mind' they're using is something that they themselves have created over the years. That is… people now expect to pay higher prices the moment they step into a movie theatre. It's almost as if they've suddenly stepped into anothe
The other 'frame of mind' they're using is something that they themselves have created over the years. That is… people now expect to pay higher prices the moment they step into a movie theatre. It's almost as if they've suddenly stepped into anothe
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
r world where paying higher prices is 'normal' and even 'acceptable.'
3. Upselling and Backend Marketing
Moreover, the theatres continue to build on another 'frame' that the customer is in. He has just paid $6 to $12 for his movie ticket. He is in the "buying"
3. Upselling and Backend Marketing
Moreover, the theatres continue to build on another 'frame' that the customer is in. He has just paid $6 to $12 for his movie ticket. He is in the "buying"
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
frame of mind. And, while he is in this buying mood, the theatre decides to continue that 'flow' and "upsell" him. In other words, they offer him additional products that would enhance his 'movie-going' experience.
Since people already believe that popcorn will add to
Since people already believe that popcorn will add to
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
their entertainment, it becomes an easy sell.
Consider another existing frame that people are "on a night out" and want to enjoy the evening and be entertained, the 'cost' of the additional popcorn and soda become insignificant since the popcorn and soda adds to the o
Consider another existing frame that people are "on a night out" and want to enjoy the evening and be entertained, the 'cost' of the additional popcorn and soda become insignificant since the popcorn and soda adds to the o
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
erall entertainment value.
It's similar to when people go to Las Vegas, or when they're on vacation. Many of them don't worry so much about paying higher prices for stuff while they're on vacation or on a 'getaway.' It's almost as if they've stepped into another worl
It's similar to when people go to Las Vegas, or when they're on vacation. Many of them don't worry so much about paying higher prices for stuff while they're on vacation or on a 'getaway.' It's almost as if they've stepped into another worl
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
d where price is not that big of an issue anymore. Pleasure, satisfaction, comfort, and entertainment are their primary concerns.
But, the theatres don't stop with just popcorn. They continue to build on that flow and momentum by tempting the customer with sodas and o
But, the theatres don't stop with just popcorn. They continue to build on that flow and momentum by tempting the customer with sodas and o
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
her goodies. Most people who buy popcorn would want something to wash it down with, especially since popcorn is a salty snack.
I have often seen people walk into the theatre with a bucket of popcorn, sit down, start eating, and then get up again to go buy a soda.
I have often seen people walk into the theatre with a bucket of popcorn, sit down, start eating, and then get up again to go buy a soda.
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
ow can you use this in your business?
During 'check out,' offer the customer an upgrade to your additional product, or provide additional "related" products that he may be interested in buying. You can do this through your 'order page.' And, you can also do it af
During 'check out,' offer the customer an upgrade to your additional product, or provide additional "related" products that he may be interested in buying. You can do this through your 'order page.' And, you can also do it af
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
er the initial order, through your 'thank you / download' page by placing links to additional products that he may find useful.
Since the customer is 'in the buying mood' right now, with credit card in hand, it's the best time to offer him other useful products. Again
Since the customer is 'in the buying mood' right now, with credit card in hand, it's the best time to offer him other useful products. Again
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
, you're selling to him when he's ready to buy.
Also, how many products can you offer as backends (in the future) that would be easy sells to your existing customers?
Take some time out to really think about this one. In most cases, there are a ton of related product
Also, how many products can you offer as backends (in the future) that would be easy sells to your existing customers?
Take some time out to really think about this one. In most cases, there are a ton of related product
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
that we can offer to our customers - things we normally wouldn't think to sell to them.
Here's another great example of backend selling…
We used to have a theatre in our area where you could see fairly new movies (about a few weeks old) for just $1.50 to $2.0
Here's another great example of backend selling…
We used to have a theatre in our area where you could see fairly new movies (about a few weeks old) for just $1.50 to $2.0
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
. They had made special arrangements with the copyright holders.
Naturally, this theatre didn't make its money by selling movie tickets. The bulk of its income came from the over-priced popcorn, sodas and other snacks. :-)
It's no wonder that one of the most effectiv
Naturally, this theatre didn't make its money by selling movie tickets. The bulk of its income came from the over-priced popcorn, sodas and other snacks. :-)
It's no wonder that one of the most effectiv
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
online marketing strategies is to offer customers an inexpensive front-end product (or even something for free) and then continue the flow by offering them bigger, higher-ticket items in the future.
It's the 'baby steps' strategy… get them to take a 'small' risk less
It's the 'baby steps' strategy… get them to take a 'small' risk less
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
action first, be it subscribing to a free report, or buying an inexpensive front-end product. Then, build on that by getting them to take a slightly bigger action.
Each time they take a step towards you and are rewarded for it, they are more likely to take the next b
Each time they take a step towards you and are rewarded for it, they are more likely to take the next b
.
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
gger step in the future. You can build on the momentum over time, and condition them to keep taking action.
To read the rest of this special report, you can download it here: http://www.t
To read the rest of this special report, you can download it here: http://www.t
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
afficstrategiesonsteroids.com/popcorn.pdf
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(Feel free to use this article online and in your email newsletters as long as you leave it intact and do not alter it in anyway. The by-line and resource box must remain in the article all links must be active hyperlinks.
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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