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Main Subject - Marketing To The New Middle Age - Their Credo - Their Faith
As baby boomers start turning sixty, and health care innovations continue to increase longevity, many people in their fifties, sixties, and even seventies have come to think of themse
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
lves as part of a new middle age.
This new group of middle age people (NMAP) has strong opinions of what they want to buy to make their lives happier and healthier and how they want
This new group of middle age people (NMAP) has strong opinions of what they want to buy to make their lives happier and healthier and how they want
; 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
o live. Marketing to them successfully requires getting rid of many of the myths and assumptions associated with this age grouping.
To some extent it is a matter of NMAP crying out,
To some extent it is a matter of NMAP crying out,
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
I don’t need it, I don’t want it, give me all you got.” Isn’t it time we started listening to what they really want?
The successful marketer has to make a conscious effort to discern
The successful marketer has to make a conscious effort to discern
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
what NMAP really want as opposed to what current perceptions of what they want are. The idea that middle-age people won’t change brands easily is a myth. They will switch brands if th
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
y perceive that a different brand offers them something new or of greater value than their old brand.
The NMAP are interested in buying products that will enhance and prolong their a
The NMAP are interested in buying products that will enhance and prolong their a
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
tive lifestyle including pain relievers, holistic treatments, and leisure products. They are also keen on financial products that will maximize their disposable income while providing
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
security of principal. They want to spend and enjoy what they have while preserving their capital.
Another myth worth dispelling is that NMAP have survived and prospered because they
Another myth worth dispelling is that NMAP have survived and prospered because they
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
have gotten rid of all their addictive vises. People over the age of forty-five still account for forty-two percent of all smokers, and even those over sixty-five still account for mo
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
e than nine percent of smokers in the US. Is anyone making a concerted effort to sell the NMAP stop smoking programs?
There are more than seventy million grandparents in the US and C
There are more than seventy million grandparents in the US and C
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
nada including more than thirty-nine million baby boomers who are interested in real estate, travel, health care products, finance, and autos. When was the last time you saw a automob
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
le television ad featuring people in their sixties? But these are the very people that have the wealth to purchase expensive vechicles. It is time to start marketing to who the real p
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
tential customer is.
As divorce rates escalate, people over fifty may be as likely to be dating as their younger single counterparts. They may be in their prime earning years or retu
As divorce rates escalate, people over fifty may be as likely to be dating as their younger single counterparts. They may be in their prime earning years or retu
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
ning to school or starting a new business. The old stereotypes no longer hold true. The NMAP are changing the consumer landscape with their vast purchasing power. To market to them e
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
fectively we have to change our perception of them.
MAP don’t think of themselves as old, and they don’t want to be marketed to as if they were. Ads that target ‘seniors’ or ‘the old
MAP don’t think of themselves as old, and they don’t want to be marketed to as if they were. Ads that target ‘seniors’ or ‘the old
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
r generation” will not be well received. NMAP are very well aware of their limitations and don’t want to be reminded of the inevitable. What they really want is to live active and pos
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
tive lives. They will buy products that will help them achieve their goals. They will buy products that make them feel good. In this respect they are just like everybody else. The key
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
to higher sales is to determine what interests them.
Marketing to people in their fifties, sixties, and seventies, will be most successful when it appeals to their emotions and their
Marketing to people in their fifties, sixties, and seventies, will be most successful when it appeals to their emotions and their
.
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
instincts, rather than when it relies solely on reason. They have after all exhibited the good instincts and emotional wellbeing to get to this stage in their lives to begin with. Let
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
s give them what they really want. Let’s help them live longer and continue to prosper, keeping in mind that quality of life issues and faith in God are very important to most of them
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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