May 3rd 2013
Abstract Marketing any product can be quiet challenging if not done properly. There are many forces and environmental factors that a company must consider before doing so. Research must be conducted to ensure that all ingredients that are being used all meet strict FDA rules and that the approach to “selling” the item is not offensive to any particular group of consumers. By looking at statistics and taking polls is the most used way to see how consumers feel about that product.
A major marketing environment force that impact Herbal Products or Nutritional Supplements is the strict regulation that they must endure. Most of these products are consumed in the United States by overweight and obese consumers. Over $30 billion is spent yearly on weight-loss dietary supplements, books, foods, and related services in the United States (Jordan & Haywood, 2007). In 1994 the Dietary Supplement Health and Education Act (DSHEA) was created to help consumers understand the labeling these products must have along with general information that have to include the product name, net contents who the manufacture is (Jordan & Haywood 2007).
This is separate from the Food and Drug Administration (FDA). Since the FDA has not generally cleared most of these products the labels must also state “This statement has not been evaluated by the FDA”. This is due to the fact that they do not require the strict studies prior to marketing by the FDA.
This can be a major marketing impact because most consumers want to see a product cleared by the FDA just like all prescription medications do. Since most consumers have chosen to use herbal or nutritional supplements this weighs heavily on the choice of the consumer to have faith in the label that the listed ingredients are true and pure to what it states. With the rising cost of health care coverage, many have elected to self-medicate and treat their common ailments.
It falls on the manufacture to ensure that they are following the guidelines laid out by the DSHEA for consumer safety and well-being. If they fail to they will lose the trust of the consumer and they will eventually switch to a competing brand costing the initial manufacture millions in lost profit. That is the last thing a company wants to happen.
A second marketing environment force is the rising cost of conventional drugs and medicines this is an opportunity for people to start thinking more about herbal and nutritional supplements (P. R.R., 2007). The choice of the consumer is weighed heavily by the input of their friends and family members who have tried various things to treat their aliments. A report shows that almost 50% of naturals consumers stated that they used a store employee as a person that they trusted for which product should they select (P, R.R., 2007).
Most companies state in their commercials or any source of advertising that it is best to consult with your physician before starting any new drug or diet. This can both hurt and strongly help these major companies. By stating very clearly that you should consult your doctor gives consumers a sense that they are not being mis-lead by these companies and makes them more secure in their faith to make that purpose. However, by making that statement some consumers might have the opposite reaction and wonder why a company would say that if they were not fully confident in their product. Either way, it has been proven time and time again that more consumers are choosing to use herbal and nutritional supplements than ever before.
A third marketing environment force is how herbal products and nutritional supplements are misused and given a bad reputation. Many consumers every year have adverse effects from taking herbal products or nutritional supplements simply because the accidentally overdose on them. Just because a product is labeled organic or all natural does not mean that