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Just Other Articles - Does the Brand Equity Influence the Customers' Loyalty?
The research objective is to enable the marketers to understand better the parameters that effect the re-purchasing decision, and
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
to evaluate whether the factor of level of involvement influence the results. The research population consisted of young men and
; 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
women aged 18-25 who were considered as the target audience. The research examined the level of loyalty, product quality and inv
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
lvement, in three product categories: Low level of involvement – Deodorant. Medium level of involvement - fashion clothes. High l
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
evel of involvement - Cellular Phones.
The research examined the relationship between brand equity and repurchase willingness. T
The research examined the relationship between brand equity and repurchase willingness. T
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
e research findings yielded, according to the Pearson correlation conducted between the consumer perception of the product equity
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 the consumer loyalty, a positive significant relationship on an intermediate-high level. In other words, the higher the cons
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
mer evaluates the brand equity, the greater his loyalty becomes. This relationship is weakened as the level of product involvemen
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
t increases. Namely, as a product has higher perceived importance in the consumer’s opinion, he searches for additional added val
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
e beyond his brand perception.
In addition, positive significant relationships were found between all the indices of the variabl
In addition, positive significant relationships were found between all the indices of the variabl
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
e of brand equity and all the indices of the variable of customer loyalty. The level of relationships was intermediate high. The
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
strongest positive relationship, relatively, is between real assets and repeat purchase, while the weakest relationship, relative
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
y, was found between the non-real assets and recommendation to the friends.
Additional findings reinforce the importance in the
Additional findings reinforce the importance in the
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
creation of brand equity. According to the findings of the explained variance, the positive value of the variable of brand equity
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
has a high significant contribution in the prediction of consumer loyalty. In addition, when multiple regressions were performed,
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
including all the variables of the presented model, it was found that the brand equity contributes significantly to the predicti
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
n of the consumer loyalty.
To conclude, in light of the scientific literature and the research findings, the hypothesis that sta
To conclude, in light of the scientific literature and the research findings, the hypothesis that sta
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
tes that there is a positive relationship between brand equity and consumer loyalty is confirmed. This relationship is stronger a
.
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
the level of involvement is lower. In other words, the more the brand is familiar and established and perceived by the consumer
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
as stronger, the more the consumer will develop loyalty to it and there is a greater chance of the repeat purchase of the product
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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