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Digg It - Leisure Industry Executives – Look for New Parents
New parents are excellent prospects for the $2.1 trillion dollar U.S. leisure industry.
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
In 2006, there were more than 4 million families that welcomed new babies into their
; 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
omes. This robust and renewable prospect source presents a tremendous revenue opportun
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
ty for leisure executives willing to target them.
Families with newborns have many obv
Families with newborns have many obv
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
ous needs; leisure industry executives can tap the hidden opportunities to find new rev
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
nue.
New parents buy all the obvious baby things: baby furniture, diapers, toys, mini
New parents buy all the obvious baby things: baby furniture, diapers, toys, mini
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
-vans …but what else are they buying? What marketers need to know is where new parents
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
are spending their dollars as it relates to them.
One of the big changes in spending h
One of the big changes in spending h
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
bits for new moms and dads is in the realm of LEISURE ACTIVITIES. During the first six
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
months of having a new child in the home, new parents spend 40% more than traditional c
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
nsumers on home entertainment. Topping the charts for most-purchased items are DVRs, la
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
rge screen televisions, home entertainment furniture, high-speed internet and premium t
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
levision programming.
Once babies reach the one-year mark, their parents’ leisure spen
Once babies reach the one-year mark, their parents’ leisure spen
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
ing patterns begin to shift to activities outside of the home. New parents, when compa
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
ed with traditional consumers, are twice as likely to spend money on vacations, time-sh
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
res, overseas travel, and cruise trips.
If you are surprised by these facts, you’re no
If you are surprised by these facts, you’re no
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
t alone. Most marketers in the leisure industry don’t consider new parents a valuable
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
rospect pool. However, research shows that new parents in their 30s and 40s are making
.
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
leisure activities an important part of their lives -- they are willing to spend money
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
o create their own personal Zen.
If you aren’t marketing to new parents, you should be
If you aren’t marketing to new parents, you should be
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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