Friday, June 21, 2013

Customization

This post is more of a question.  In the Seth Godin video, he talks about how mass marketing concepts are moving toward individual marketing instead.  It isn't enough to know your market segments, companies need to know their customers.  In an age where retail products are getting more and more custom, I can't help but notice that the medical device industry is moving in the exact opposite direction.    Back in the 60's - 80's, a doctor could call up a medical device company, explain what they need, and it would be built and shipped out that day.  Due to a significant increase in regulation, it is no longer possible to make custom medical products.  A simple, low risk product like a needle now takes years to design, develop and approve.  A doctor may have a need today that cannot be met until several years in the future.  I don't have an answer for this, but I find it very fascinating that although information and innovation seems to move faster in the retail world, it is actually moving slower in my world!

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