I was completely sold on this concept when I heard it for the first time a couple of years ago and, although it is far more evolved in the context of healthcare, we can think of it in a more simplistic fashion while implementing it. We always link service agreements and contracts with the various consumer durables we buy at home.
The reason? We are conscious of the high cost and the long-term investment we make in these products. In many cases, our choice of buying a good brand of television or refrigerator is linked to the service provided more than just the features and benefits.
The premise of developing a Prodice model for your OTC brand is no different, as you visibly see every consumer of your brand as a return on investment for the long term.
We have in fact implemented such services, even though in very simplistic ways, whether it is a helpline or a website, and now increasingly the creation of mobile apps.
While this is certainly a beginning towards building a Prodice model, we treat it as a discretionary service for our brand that is most often implemented as a differentiator when launching in a cluttered market. It is not pursued holistically and, more importantly, non-negotiably.
So, is the status quo a fruitful investment? And will it really serve the purpose if we do not make it a much necessary tool along with our brand?
The fact remains that what the world needs today is a service that clearly creates brand engagement for the long term and can provide a good amount of data to help us understand our consumers better and inspire the kind of innovations and new products we need to launch in the future.
It is indeed time to push the envelope and explore greater opportunities with this model. Your brands are asking for it.
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