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Digg It - Your Site in a Shopping Centre - Location, Location!
Have you ever wondered just how all the retailers who have a shop at your local shopping centre, sorted out who’d go where? If you imag 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 ined that they didn’t really care – think again. The adage in real estate; location, location is just as relevant in the shopping cent ; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug. Examples of combination products may in e placement game. Firstly some useful terms to clarify the language used: Anchor tenant – A major retailer such as a supermarket or d lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together. iscount department store who ‘anchors’ all or part of the centre. Usually found at either end. Satellite – A retail area physically sep here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe rated from the main building, but sharing the car park etc. Handy for ‘utility’ type tenants such as car servicing. Traffic – The gener d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations. Combination pro l term used for shopper ‘flow’ as identified by devices such as clickers. If you examine a selection of your local shopping centers, y 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 ou will find a pattern emerging. There will be at least one anchor tenant. A large retailer, such as a supermarket, which will be place 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 usually at either end. This anchor has the job of attracting the bulk of traffic to the centre, and is essential for success. There wi nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically ll usually be a satellite set up on an edge of the car park to house operations unsuited to any other placement. Businesses such as aut 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 mechanics or building supply warehouses. Normally these days, banks will be situated inside for security reasons, but may well have an ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi ATM ‘standing guard’ on an external wall. But what about the positioning of the retail shops? Do you see deep discounters, (dollar sto ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it. Following aspects would a res etc) sitting right outside the anchor tenant’s entrance. No chance! The anchor would simply not tolerate this. Do you see 2 or 3 je dd to the challenges in developing combination products: Which markets to tap where the combination products can do fairly well? Which combination prod elers stores placed side by side? Again, very unlikely. Conversely you may see almost all the food outlets clustered together in what’s cts are meaningful and rational? Which therapeutic categories to select? Which Combinations can address unmet needs of the patients? Do combin called a ‘food court’. This has various benefits such as common use of seating, crockery etc. So what is the best place to seek for y tions increase the patient compliance? What would be the developing cost? How to tackle the risks encountered during combination product developmen ur business? First you have to analyze your customers. Do they only come in business hours? Can they carry what they buy? The list is e 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 tensive, but in short you need to be familiar with your customer’s habits. Next you need to study the shopping centre plans. Look at wh ping new procedures for reviewing their safety, efficacy and quality. Professional from academic institutions, pharmaceutical industries, health care indust ere the anchor is. Look at the main entrances and exits. Look at corners and other places where people are likely to pause – outside a y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products ovie theatre for example. A couple of hours spent simply watching is also invaluable for this. Now match up your customers with the ch . 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 aracteristics of all the locations available. It’s no good running a video store inside the centre as your customers will want access t elopment. They need to be wiser in analyzing the market trends and the regulatory requirements. Companies that provide selfless information through particip you after-hours. Nor do you want to be stuck by the infant changing room trying to sell power tools! Copyright 2006 business-cards.co 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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