For the Pharmaceutical industry, it is difficult for consumers to tell the difference between an excellent, acceptable or poor quality product. For this reason, safety, quality and reliability problems can go undetected until the FDA detects them during an inspection or after investigation for a product recall. By then, the problems can be out of control and can result in a Warning Letter or Consent Decree.
The below excerpt can be found here:
“ Seth’s Blog: The tragedy of the last 10%
In a competitive market, if you do the work to lower your price by 10%, your market share grows.
If you dig in deep, analyze, re-engineer and make thoughtful changes, you can lower your price another 10%. This leads to an even bigger jump in market share.”