Useful Advices - Business

Family plays an integral role in influencing our purchasing behavior, as a child the choices are

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

determined by parents based upon safety and need of child considerations. Similarly the child 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

nfluences the decision making process related to whole family like color of family car etc.

The

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

family purchasing decisions can be examined from four perspectives – Role Structure, Power Struc

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

ture, Decision Making Stage and Family culture.

Role Structure

Like societies, families are al

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

Combination pro

so structured of roles and each family member occupied his or her role. For ex Gender role prefe

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

ences reflect culturally determined attitudes toward the role of husband and wife, mother and fa

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

ther in the household. Perception of these roles based on gender affects the decision making pro

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

cess and household decision process.

Power Structure

There are various power structure which a

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

cordingly affect the decision making process in the family, for example in patriarchal societies

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

man is the head of the family and makes most of the major decision while in the matriarchal soc

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

Following aspects would a

iety woman is the head of the family and makes all the major decision. While in equalitarian soc

dd to the challenges in developing combination products:

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

ety both share equal decision making powers.

Decision Making Stage

Marketers today focused on

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

understanding the whole buying stage rather than the final purchasing act. Each family member af

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

fects the purchasing behavior at different stages. For example when a family decides to buy a ca

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

, the women usually specify the needs accordingly man usually decides upon the model of the car

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

Professional from academic institutions, pharmaceutical industries, health care indust

based on technological competence while children play a very important role in deciding the colo

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

r of the car.

Family Culture

Each family has different internal culture which influences its p

.

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

rchasing decision. These differences could be due to cultural background, social upbringing and

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

Companies that provide selfless information through particip

family values. Most marketers today try to focus on few prominent cultures to segment the market

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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Most of us would never even consider eating our lunch in the bathroom, yet we do it all the time in our office. Recent studies show there are more germs in the average office than in the average bathroom! Perhaps that is a good indicator that keeping your office clean is really important.

Recent marketing studies reveal that most marketing strategies directed toward women fail to live up to potential due to lack of appropriate market segmentation.
Businesses that are the most successful and consistently reach women with targeted marketing efforts take advantage of the different ways in which women collect information and make consumer decisions. As a business owner you can capture the female buying power through specifically targeted marketing strategies toward women versus the traditional marketing strategy.

In the arena of marketing, the weapon of choice is always advertising. Only through advertising can the target market know about your product, what it can offer and what edge it has above other brands, products or services in the same category.

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Useful Advices - Consumer Behavior: Family Purchasing Decisions Making Process

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