Subjects - Business

This article will provide a brief overview about the concept of hospitality industry, the problems faced by this industry and importance of hospitality marketing to ensure customer satisfact

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

ion and business growth.

Hospitality industry has a long evolutionary history. In older times, analysts suggest that the concept of this industry was initially known with a synonym, hotel i

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

Examples of combination products may in

ndustry. However in modern era the terminology of ‘Hospitality Industry’ is more common that comprises those businesses that provide services such as accommodation, food, and beverages to tr

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

avelers seeking pleasure as well as those who travel due to business reasons (Gray & Liguori, 1996). Moreover it is argued that to some extend components of leisure industry such as cruise s

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

hips restaurants and to some lesser degree airlines are also considered part of hospitality industry as well (Papers4you.com, 2006).

Though the industry is assumed to be in nevr lasting dem

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

Combination pro

nd but there are certain problems that this industry regularly faces. These problems may include uncertainty to the costs of even most economic source of energy, increased trend of problems

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

in maintaining profitable food and beverage facilities, comparatively more increase in labor costs as compared to productivity, customer dissatisfaction due to increase in size and number of

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

rooms as it is claimed to increase registration and other services process time and more importantly very high competition that induces heavy rate cuts to survive (Gray & Liguori, 1996).

K

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

eeping these factors in view, in particular customer’s dissatisfaction and profit reduction, Lewis & Chambers (1989) asserts that hospitality industry historically did not realize importance

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

of marketing and a remedy to industry’s problem is encapsulated in ‘hospitality marketing’, both in its foundation and practices. It was further asserted that in 1950s and 1960s, industry f

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

cused on technology and updating their telephone reservation systems. Similarly in 1970s and later, businesses were focused to increase assets and forgot the essence of industry, that is, ‘c

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

Following aspects would a

ustomer oriented service’.

It was suggested that players in hospitality industry should realize that hospitality product is different, that is in fact, something intangible that they are se

dd to the challenges in developing combination products:

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

lling and as both product and reasons for buying it are different also different so it demands a different marketing strategy, something like hospitality marketing that requires customer cen

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

tered hospitality need identification, specific segmentation & positioning and ‘the hospitality marketing mix’.

Such trend can be observed around the world (Papers4you.com, 2006). Food chai

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

ns like McDonalds, Pizza Hut etc are now focusing on customer’s service and taste rather than focusing on their own brand name only. McDonalds in India, for instance, operates differently wh

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

le focusing on the ‘vegetarian aspect’ of their tradition than McDonalds in USA where focus is more towards an easy accessible food facility.

Hence the discussion may conclude that hospital

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

Professional from academic institutions, pharmaceutical industries, health care indust

ity industry provided ever needed services. Nonetheless it may face certain specific issues that can be counterattacked through industry specific ‘hospitality marketing’

References

Gray, W

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

& Liguori, S, C, (1996), ‘Hotel and Motel Management and Operations’, Third Edition, Singapore: Prentice Hall Simon & Schuster (Asia) Pte Ltd

Lewis, R, C & Chambers, R, E, (1989), ‘Marketi

.

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

ng Leadership in Hospitality- Foundations and Practices’, New York: Van Nostrand Reinhold

Papers For You (2006) "C/M/142. Dissertation. Measuring service quality in a Hotel", Available from

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

Companies that provide selfless information through particip

http://www.coursework4you.co.uk/sprttrav6.htm [22/06/2006]

Papers For You (2006) "P/B/582. Benefits and problems of small hospitality businesses", Available from Papers4you.com [21/06/2006

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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