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Just Other Articles - Seasonal Fashion Merchandising
Introduction
Seasonal merchandising refers to the process of merchandising that is the management of products and stocks acco
Seasonal merchandising refers to the process of merchandising that is the management of products and stocks acco
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
rding to the seasonal trends or fashions prevailing in the market. Seasonal merchandising is fast becoming the mantra in the 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
Examples of combination products may in
ndian retail scenario.
Seasonal merchandising has its own benefits as well as limitations. The following points analyze the c
Seasonal merchandising has its own benefits as well as limitations. The following points analyze the c
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
ncept as a whole:
Accurate forecasting
In order to generate more sales through seasonal forecasting, it is necessary to be a
Accurate forecasting
In order to generate more sales through seasonal forecasting, it is necessary to be a
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
ble to forecast the market trends accurately. You should have a fair idea of what is in demand in the international market and
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
in other markets in your country. A trend might be very popular in one country, but it might not have the potential to dominat
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
e the national market. You should have the ability to determine which trend is just a passing fad and which one is likely to b
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
come popular and manage your stocks accordingly. A wrong forecast can lead your firm to great troubles.
Timeliness
Timelines
Timeliness
Timelines
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
s is the key to successful seasonal merchandising. While deciding to stock a particular product, you should ensure that you ar
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
not bringing in a trend earlier than its time. At the same time, you also need to ensure that you are not stocking an outdate
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
d item. You have an added advantage over other retailers if you are able to spot a trend and be the first to stock it in your
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
store.
Customer base
While undertaking seasonal merchandising, you should have a fair idea of what customers each type of se
Customer base
While undertaking seasonal merchandising, you should have a fair idea of what customers each type of se
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
sonal product would attract. Sometimes, products that are in fashion may attract only a specific class of customers, while som
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
e other products might attract a large number of customers. This gives an idea of how much of the product should be stocked an
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
situations like overstocking and understocking can be avoided.
Managing risks
You should have well-planned strategies for r
Managing risks
You should have well-planned strategies for r
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
isk management in order to make seasonal merchandising successful. In case overstocking happens, you should take into account
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
ays for stock clearance, discounts and exploring other potential markets. Some retailers have well-defined sections such as co
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
re products and seasonal products. Core products are the basic or classic products offered by the retailer, while seasonal pro
.
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
ucts are those that are currently in fashion.
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
on-industry-article/seasonal-fashion-merchandising/seasonal-fashion-merchandising1.asp">View Full Article
Copyright © 200
Copyright © 200
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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