Strategies for increasing customers

Most companies do not require patents as their selling requirement. The strategies that are required to sell the products based solely on the brand name are discussed below.

1. The brand name creates trust and loyalty among the customers. This is the reason even when the patents expire there are a lot of companies like Tylenol and Advil that sell the no-name generic drugs. This strategy is created by the companies to pay in the form of special grants that are available in markets. This keeps the existing customer and helps in acquiring one. There is another form of development in the drug patent work that is affected by the companies for the benefit of the business. The increase in profit and overall revenue is a key aspect of the production of the drug.
2. The patents get associated with the brand name over time. This makes the customers pay more money over time. The no-name generics are required for the development of the medical drugs that are available. This keeps the existing customer and helps in acquiring new ones. There is another form of development in the drug patent work that is affected by the companies for the benefit of the business. The increase in profit and overall revenue is a key aspect of the production of the drug. The brand name is associated with another sort of business growth that is affected by the development of drugs that are renowned and have a generic name (Larsson, 2014).

Strategies to make the customers pay more

Customers are ready to pay more for branded-name drugs than generic medicines. The customers have a mindset that believes in quality over quantity. Other requirements are made to be developed in a certain way to recognize and improve the profits of the company.

1. The companies bank on the loyalty and brand name of the customers. This pursues them to pay for the products. They create hype in the market that their product is best for the consumers. The other sort of developments that are seen in the market is a result of the research work. This is done to promote other activities for the organizations to flourish.
2. The brand name is used by the organizations along with the customer base. Generic drugs are not trusted by consumers because of the lack of trust that is needed to be invested in a partner. The customers get ready to pay more for the same drugs and this is the reason there is a market gap in the strategies the customers make (Norman, et al., 2017).

Product Description

Products checking the blood sugar level are in demand among people who have high sugar levels. These glucometers are available in the market for the product to be available for all people. This keeps the existing customer and helps in acquiring new ones. There is another form of development in the drug patent work that is affected by the companies for the benefit of the business. The increase in profit and overall revenue is a key aspect of the production of the drug. This is a necessity in the modern world that is required to maintain the health of the people (Niazi, 2019).

Monopoly

The glucometer brand including Accu-check that have a monopoly on the Asian and western markets. The product helps in checking the blood sugar level of blood. The other type of process is not feasible to develop in the market. Certain products are available in the market. Monopoly is created in the market to meet the needs of the market. This has a huge impact on the size of the market. The monopoly is beneficial for the companies that need to make their mark and create a niche in certain products.

Opposite position

The other side of this position is that there are glucometers available in the market that are manufactured by other companies. The companies made these products for meeting the needs of the market. There is an opposite form of product that is required to break the monopoly of one organization regarding a certain product (Correia, et al., 2017).

Actions required by businesses to compete

1. The marketing strategies of the business need to be top-notch for the businesses to compete. The other form of development is required to be met for competing with the other organizations. The finest example includes the involvement of medical supplies. This includes the mass gainer brand Endura mass which has the monopoly in this section. They have marketing strategies that are perfect to connect their name to the cause.
2. The quality of the products makes the organization different from other companies. The organizations rely on the quality of the products to capture the market and create a niche. The best example of this is that baby food companies including Nestle maintain the highest standard of quality for their baby food products (Tseng, et al., 2018).

Tim Horton’s policy and explanation

The policy explains the factors of pricing for Tim Hortons. Some companies require this pricing to grow their business for order and counter. These explain the qualities supplied for the counter and order. In this scenario, an explanation needs to be done for the products to be marketed in this form. The fixed pricing policy has generated revenue for the organization and therefore they rely on it. The quantities and supply are coordinated in a meaningful way. If I were the CEO I would have slightly modified the policies of the company. The explanation is given in the form of profit that is generated in this process. Certain criteria are required in time of wait. The same thing is generated for the formation of new clients and tenders that will help the organization to grow.

Rent controls

The rent controls of the place are fixed at a particular limit for the convenience of the tenants. The owner can only charge a certain amount of money from the tenants. This keeps the existing customer and helps in acquiring new ones. There is another form of development in the drug patent work that is affected by the companies for the benefit of the business. The increase in profit and overall revenue is a key aspect of the production of the drug. This is done o limit the misuse of the renting by the owners. The renters compete amongst themselves for getting the highest rents (Lee, et al., 2015).

Unintended consequences of rent control

The consequences of rent control have put a cap on the rent market. The rent market needs to flourish for the development of the business. This keeps the existing customer and helps in acquiring new ones. There is another form of development in the drug patent work that is affected by the companies for the benefit of the business. The increase in profit and overall revenue is a key aspect of the production of the drug. The landowners also see various scopes in this business for getting the best returns. The rent control affects the business ceiling of the market.

Choices of tenants of landlords

The landowners want the best of the rent for themselves and the tenants want the best of the deal from them. The tenants want the most cost-efficient deal for themselves. This keeps the existing customer and helps in acquiring new ones. There is another form of development in the drug patent work that is affected by the companies for the benefit of the business. The increase in profit and overall revenue is a key aspect of the production of the drug. Several other deals look attractive to the landowners and the tenants for obvious reasons.

References

Correia, M. G. S., Briuglia, M. L., Niosi, F., & Lamprou, D. A. (2017). Microfluidic manufacturing of phospholipid nanoparticles: Stability, encapsulation efficacy, and drug release. International journal of pharmaceutics, 516(1-2), 91-99.

Larsson, D. J. (2014). Pollution from drug manufacturing: review and perspectives. Philosophical Transactions of the Royal Society B: Biological Sciences, 369(1656), 20130571.

Lee, S. L., O’Connor, T. F., Yang, X., Cruz, C. N., Chatterjee, S., Madurawe, R. D., … & Woodcock, J. (2015). Modernizing pharmaceutical manufacturing: from batch to continuous production. Journal of Pharmaceutical Innovation, 10, 191-199.

Niazi, S. K. (2019). Handbook of Pharmaceutical Manufacturing Formulations: Volume Two, Uncompressed Solid Products. CRC press.

Norman, J., Madurawe, R. D., Moore, C. M., Khan, M. A., & Khairuzzaman, A. (2017). A new chapter in pharmaceutical manufacturing: 3D-printed drug products. Advanced drug delivery reviews, 108, 39-50.

Tseng, J. H., Liao, Y. C., Chong, B., & Liao, S. W. (2018). Governance on the drug supply chain via the gcoin blockchain. International journal of environmental research and public health, 15(6), 1055.