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Opportunities for Pharma Companies in US | March 27 2003 |
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Retailers and prescription drug and consumer healthcare products manufacturers must evolve their traditional approaches to marketing and begin seeking new ways of understanding the total wellness needs of the individual -- from a consumer, patient, and customer perspective -- according to Ed Kuehnle, North America Group President of Information Resources, speaking at the recent Consumer Healthcare Product Association's (CHPA) annual conference. 'The once-clear lines between prescription (Rx), over-the-counter (OTC), and natural remedies are blurred if not obliterated -- it's a whole new game. Now more than ever, manufacturers and retailers must take a more holistic view of healthcare products by adopting a 360 degree view of the total marketplace to gain a solid understanding of individual consumers and their behaviors,' said Kuehnle. IRI research shows that consumer attitudes have changed drastically. Consumers are increasingly adopting a self-care attitude, relying on prevention as a first line of defense. Treatment is reserved for ailments/conditions that break through the 'total wellness' roadblock. As integral and active participants in caring for their own health, consumers demand understanding and treatment at the individual level. Consumers' treatment thought processes are also changing as new prevention and treatment options enter the marketplace. However, despite changing needs, the consumer/patient/customer remains a single individual, providing marketers and retailers with the opportunity to significantly focus their efforts. Also, an array of market and economic forces including regulatory restrictions, Rx-to-OTC switch activity, direct-to-consumer advertising, and changing demographics have combined to have a profound impact on the pharmaceutical industry. Total wellness is the central theme in this evolution, leaving manufacturers and retailers competing with each other like never before. 'Manufacturers and retailers who embrace new opportunities for partnership and cross-promotion can address the full spectrum of wellness from prevention all the way to treatment, thus effectively building total front end and Rx sales,' concludes Kuehnle. Simple printable version of this article. Email this article to a friend.
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