Toothpaste (previously removed post)
The toothpaste companies are missing a huge opportunity. What are two things that almost every american pays for? Dental Insurance and Toothpaste. Why doesn't Colgate, or some other tootpaste giant start a dental insurance plan? Companies get group discounts on insurance. Imagine how many people Colgate could get together! Is 10,000,000 unrealistic? Is 50,000,000 possible? Not to mention that the money in this country is in insurance. Why not have a toothpaste giant offer a retainer program...you get a years supply of toothpaste and dental visits for x amount of dollars. That would also decrease people switching toothpaste brands based on price and promotion.
Think of the international market for Colgate offering a dental insurance plan!
Why isn't butter sold in toothpaste tubes?
Leave me some comments. Is this a good idea? Why wouldn't it work? What other companies could do this? (e.g Boeing should sell annihilation insurance, Altria could sell health insurance). Let me hear/read your ideas. (I am still surprised that my techie readers didnt comment on the previous blog).
posted by Greg at 8:19 AM
7 Comments:
I don't think it would work unless a toothpaste company was bought out by a HMO or other Health insurance related company. They can't just decide one day to jump into H.I., the startup costs are too great.
It'd be a partnership. Colgate would not start up an insurance plan. (which they could easily afford...startup for insurance companies is cheap, its just borrowing people's money, aka premiums and investing them in mutual funds).
According to your logic every company that offers insurance is owned by an HMO or "H.I." related company. That is obviously not the case.
Colgate's response to me emailing them this last year also disagrees with you.
How can this work?
Yes the toothpaste companies are missing a huge opportunity just like thousands of other company’s
are. Why specifically pick out the toothpaste Industry? Do you have knowledge beyond the average person into the toothpaste industry? (Including the toothpaste execs?) If so what perspective do you see? You say that the Dental Insurance would be a partnership yet in your post you say "Why doesn't Colgate or some other toothpaste giant START a dental plan?" The fee for backing an insurance company seems immaterial on the surface but it would costs tons of marketing dollars to actually attract customers and implement the infrastructure to get a dental plan executing successfully? Why would customers stray from their current dental plan and join Colgate or Crest? Can Colgate actually offer a plan that is cheaper than current Dental plans especially if they are the newcomer in an industry (they would take a huge loss and probably negate any profits they make from the manufacturing side for at least five years before they gain any type of a market share and if they think this new strategic driver would eventually work would it be worth the risks? Yet a newcomer would probably be welcomed, I see your point especially with escalating prices in dental plans) Toothpaste companies have the Dentists’ Association in their pocket already and I doubt that the DA would back Colgate or any company that provides dental insurance because that would be unethical to recommend a product and a service just because they lobby the association and fund it, that would most likely strip Colgate with the title of ADA approved? What does Colgate have to offer
that the current providers don't? Colgate is strictly a manufacturing company that uses R+D
and heavy marketing to get the sales volume they have... that's it. Their strategic plan doesn't currently involve this idea, nor does the future (strictly opinion, obviously open for discussion). You don't see many businesses dipping in to both pots. Why doesn't McDonalds sell Groceries?
Why doesn't State Farm do their customer’s auto collision repairs?
Colgate makes their money like pharmaceutical company’s make theirs, they pay their dentists
to hand out Colgate. If they start their own insurance practice
that would open a new can of worms and cut out too many people in their current system. I’m not saying they couldn’t make the system work because anything can work in the right situation but they would have to change and risk too much in my opinion. So to answer your ending question, I don’t see how it could work at the moment because they would have to change their industry as long as the Dental Insurance industry to be successful.
Think of it like the same dental plan your company has. I work for a company that has 30k employees. There is no doubt we get cheaper dental insurance than a company with 10 employees, due to economies of scale.
The idea behind my post is the same. Colgate/Crest have 10's millions of customers...imagine the wholesale discount they could get.
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and what kind of stupid assholes actually take you seriously goddamnit you stupid shitheads you are idiots he is playing you like a skinflute in a penis parade you dipshit assholes
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