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Digg It - Why Market To Women, & How Should You Do It?
Even if the decision to buy appears to rest elsewhere, women frequently have a major influence on whether or not the sale is made. It’s easy to consider the car industry as predominantly male-driven. The majority of salesperson
According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product
s, journalists and mechanics are male, and published statistics of new car sales are weighted toward men.
For example, in 2002, almost 850,000 new cars were sold in Australia, according to the Federal Chamber of Automotive Indus
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
ries. It is estimated that sole female car purchases represent between 20 and 48 percent of this figure, but female influence on those same purchases is around 70-80 percent.
This takes us back to the basic marketing concept of
This takes us back to the basic marketing concept of
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
emembering that the decision-maker is not always the person who pays the bill, a rule frequently forgotten by administrators of hotel loyalty cards who do not allow points to be collected by guests if the bill is being sent back
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
o the company.
Another area often considered to be a male dominion is that of technology. Looking at DVD sales, for instance, we find that in 2002, only a third of women claimed to be their family's primary DVD purchaser but by
Another area often considered to be a male dominion is that of technology. Looking at DVD sales, for instance, we find that in 2002, only a third of women claimed to be their family's primary DVD purchaser but by
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
2004 that figure had increased by more than half.
What is interesting here is not so much the size of the market, but the speed of its increase. Therefore, companies that have traditionally geared their marketing to men and con
What is interesting here is not so much the size of the market, but the speed of its increase. Therefore, companies that have traditionally geared their marketing to men and con
ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc
tinue to do so because the male market has always been their main source of custom may be guilty of backward thinking.
Another aspect flagged up by the speed of change is how challenging it can be for companies to stay ahead of
Another aspect flagged up by the speed of change is how challenging it can be for companies to stay ahead of
easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi
he game when marketing to women. Factors that affect women’s desires and purchasing power such as levels of education, income and independence are all increasing at a more rapid rate than those of men.
What women want that’s dif
What women want that’s dif
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
erent to what men want
The lives of the majority of women today are infinitely more complicated than the lives of their male counterparts. It is the woman in the relationship who will generally be looked to when it comes to the
The lives of the majority of women today are infinitely more complicated than the lives of their male counterparts. It is the woman in the relationship who will generally be looked to when it comes to the
and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ
multi-faceted operation of the home. The woman is likely to be the one who keeps the environment clean and organized, ensures the family or partner is clothed and fed, shops, irons, recycles, handles the help, ferries the kids a
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
d keeps tabs on everyone’s social diaries. On top of this, she’s very likely to be holding down one of more jobs or developing a business or career.
So the entire running of the household is likely to have the female as the lyn
So the entire running of the household is likely to have the female as the lyn
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
ch-pin. This often includes the handling of the household finances and yet the majority of financial products, along with cars and technology, are still considered male-gender specific.
How women make the decision to buy
Frequ
How women make the decision to buy
Frequ
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
ntly, when seeking solutions to problems, women will have conducted research online and be extremely well-prepared prior to placing themselves in line for a sales pitch. Any company that does not acknowledge this and insists on
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
asting a woman’s increasingly valuable time is likely to trigger a negative response as she can feel patronized by a “step-by-step, start from the beginning”, approach that may be unnecessary.
With such complicated lives, women
With such complicated lives, women
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
eek simplified solutions. When looking at your product, consider how your marketing can also be simplified to avoid adding to an already stressful life. Is it possible for your entire product and its benefits to be presented in
t?
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
such a way that it solves problems for over-stressed women? Does your marketing show how your product will support her busy lifestyle?
It is not even as simple as the traditional method of asking questions and identifying what
It is not even as simple as the traditional method of asking questions and identifying what
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
she wants because she will make purchasing decisions based, not only on her own needs, but also on the needs of her family. The first consideration should always be an acknowledgement of the complications in her life.
So she nee
So she nee
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
s to know that you understand the problems she faces. Can your sales force show that they identify with her?
Women are three times as likely to learn about a new product from another woman. It is likely that women purchasers as
Women are three times as likely to learn about a new product from another woman. It is likely that women purchasers as
.
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
ume that another woman can more easily understand her challenges than a man. If a woman is presenting your product and is able to show how your product or service makes sense in the world they both occupy, the purchase is a natur
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
l progression.
When the sale is made in this manner, your female purchaser feels valued and acknowledged and knows that she has been offered a solution, rather than having been pushed into a sale which she will inevitably cancel
When the sale is made in this manner, your female purchaser feels valued and acknowledged and knows that she has been offered a solution, rather than having been pushed into a sale which she will inevitably cancel
tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
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