Subjects - Business

In 2005, hotels in America generated $100 billion in profits, mostly from the food services sector. Luxury hotels also did brisk business, and sma

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

ller hotels too brought in additional revenues through value added services. Since the hospitality industry is booming, it is a good time for vend

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

ors to cash in on this boom and market themselves to the industry representatives.

Hotel Planners:

If you are planning to display your products

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

nd services to the hospitality industry, you need to approach hotel planners. There are over 70,000 hotel planners in the US, and their ideas and

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

initiatives have generated $44 billion in revenue for the hotel industry. In order to market your services to the hospitality industry, you need t

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

meet the planners and executives of hotels.

How to Market to Hospitality Industry:

In order to sell your services to the hospitality industry,

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

you need to reach the planners and hotel managers. However, it is not easy to reach them, as they place a great value on their time, and have prob

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

bly been approached by dozens of vendors before you.

1) Identify industry sectors where your products are going to be most useful. If the planner

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

s think that your products are of use, they will definitely want to know more.
2) Plan your marketing strategy before you approach people in

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

he hospitality business.
3) Internet, emails, direct mailing, print media are all good mediums of getting your message across to people in t

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

he hospitality business.
4) Become a member of any association of vendors or related sector in the hospitality industry. This will lead to hi

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

gher exposure of your services to people in the hospitality industry.
5) Provide hotel planners with information regarding your products, an

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

cut down on the sales talk. Planners are hard pressed for time; and they will not be too happy if they take time out to listen to you, only to di

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

scover that you have nothing much to tell them.
6) Use innovative marketing strategies to get the attention of planners. Schedule calendars,

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

calculators, software for charts etc. are always in demand within the hospitality industry, so you can demonstrate the use of such innovative tool

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

s to hotel executives and planners.

Hospitality Industry: Sectors of Growth.

High growth areas of the hospitality industry include food and beve

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

ages, and full service hotels. Food and Beverage departments of major hotels have been given more autonomy, so you can approach the department man

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

ager directly for marketing purposes. Vendors and suppliers of food items, drinks, kitchen devices, cutlery, table linen and furniture can benefit

.

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

a lot from this.

With so many opportunities for vendors to take advantage of, it is no wonder that they want to cater to the hospitality industry

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

. With proper planning and the right marketing strategies, you should be able to get ahead of your competitors and bag lucrative deals from hotels

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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Subjects - B2B Marketing: Selling To The Hospitality And Travel Industry

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