New Versus Old Bausch & Lomb Versus Ciba Vision
The contact lens industry is flooded with choice at the moment.
The major companies are involved in a tug of war offering ultra high tech products.
Customers can be bedazzled by choice.
They want the best, but how should they choose between a company such as Bausch & Lomb and Ciba Vision? Should they judge by marketing material or price? Or should they take a closer look at the companies themselves? I've chosen these two companies because although the products on offer are broadly similar they have very different images.
While Bausch & Lomb traces its roots back to the 19th century when two German immigrants opened up an eyewear shop, Ciba Vision was founded with the eighties.
While one can draw upon its extensive heritage in the sector, the other can present itself as a young, upwardly mobile company surging ahead to the future.
So what - you might think.
That's all just a lot of marketing hype and indeed you're right.
However, there is some value in it and to explain, I have to talk a little about the world of corporate investment.
When choosing which company to trust with precious funds, professional investors generally look at the ethos of the company.
For example, do they concentrate on cost savings with cutbacks or invest money into research and development? Do they have a track record of expertise in the industry or are they simply dipping a toe in the market.
The answers to all these will determine the likelihood of their products being successful in the market place.
These factors are of course highly generalised and only begin to scratch the surface of what an investment firm does in terms of its quality testing, but it does give customers a starting point.
For example does Bausch & Lomb's track record mean it is stuck in its ways or does it have the gravitas with which to approach the market in a more effective way than its competitors.
Does Ciba Vision's modern outlook point to a lack of experience or quality of innovation.
Next what about their main competitors in this space? What about a company such as Acuvue which is being highly active in the realm of silicone hydrogel technology? Then there's Coopervision, which promotes its Biofinity lenses using a special new material they call Aquaform.
How do we know how to trust that their grand sounds products can do what they say.
The secret is to take a close look at the company.
See what information they offer.
Can you phone up and speak to someone at the company to give you good advice.
How much do they know about their products? Have they done testing? Are they planning to bring in new ranges? How big is their corporate structure? If it's slow and cumbersome that will give overheads and make their product less price competitive.
Once you judge that you can get a good starting point as to which product is likely offer the best advantage and whether a company like Bausch & Lomb which has been going for 150 years can cut it in the modern marketplace.
Heritage is good.
If that's combined with good modern business practices then customers will feel extremely comfortable.
The major companies are involved in a tug of war offering ultra high tech products.
Customers can be bedazzled by choice.
They want the best, but how should they choose between a company such as Bausch & Lomb and Ciba Vision? Should they judge by marketing material or price? Or should they take a closer look at the companies themselves? I've chosen these two companies because although the products on offer are broadly similar they have very different images.
While Bausch & Lomb traces its roots back to the 19th century when two German immigrants opened up an eyewear shop, Ciba Vision was founded with the eighties.
While one can draw upon its extensive heritage in the sector, the other can present itself as a young, upwardly mobile company surging ahead to the future.
So what - you might think.
That's all just a lot of marketing hype and indeed you're right.
However, there is some value in it and to explain, I have to talk a little about the world of corporate investment.
When choosing which company to trust with precious funds, professional investors generally look at the ethos of the company.
For example, do they concentrate on cost savings with cutbacks or invest money into research and development? Do they have a track record of expertise in the industry or are they simply dipping a toe in the market.
The answers to all these will determine the likelihood of their products being successful in the market place.
These factors are of course highly generalised and only begin to scratch the surface of what an investment firm does in terms of its quality testing, but it does give customers a starting point.
For example does Bausch & Lomb's track record mean it is stuck in its ways or does it have the gravitas with which to approach the market in a more effective way than its competitors.
Does Ciba Vision's modern outlook point to a lack of experience or quality of innovation.
Next what about their main competitors in this space? What about a company such as Acuvue which is being highly active in the realm of silicone hydrogel technology? Then there's Coopervision, which promotes its Biofinity lenses using a special new material they call Aquaform.
How do we know how to trust that their grand sounds products can do what they say.
The secret is to take a close look at the company.
See what information they offer.
Can you phone up and speak to someone at the company to give you good advice.
How much do they know about their products? Have they done testing? Are they planning to bring in new ranges? How big is their corporate structure? If it's slow and cumbersome that will give overheads and make their product less price competitive.
Once you judge that you can get a good starting point as to which product is likely offer the best advantage and whether a company like Bausch & Lomb which has been going for 150 years can cut it in the modern marketplace.
Heritage is good.
If that's combined with good modern business practices then customers will feel extremely comfortable.
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