Cases - Business

A recent vending machine industry-wide survey revealed that the vending machine industry is losing many potential consumers due to a l

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

ack of consumer education. The study surveyed 2,223 people over the Internet. The objective of the new vending machine industry study

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

Examples of combination products may in

was to determine vending machine consumer motives for purchase decisions. The study also examined potential areas to expand vending ma

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

chine use and the general public's awareness of new vending machine technology and products.

The key findings of the vending machine

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

industry survey are listed below.

- Reasons for vending machine purchases. Vending machine consumers cited convenience and ease a

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

Combination pro

s the top reasons for making vending machine purchases.
- Vending machine consumers were hesitant to make vending machine purchas

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

es mainly because of poor selection and a misconception that vending machines do no offer healthy options.
- Brand recognition is

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

vital to vending machine sales. Vending machine consumers expressed a high brand loyalty. Most vending machine consumers browse vendi

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

ng machines prior to purchase and select a familiar item.
- Potential vending machine consumers think vend prices are high in com

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

parison to other retail outlets. Vending machine consumers are unaware that sales tax and bottle deposits must be included in the pric

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

e of vending machine products.
- Most vending machine customers are unaware of new vending machine technology. New vending machin

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

Following aspects would a

e technology like cashless payment options appealed to a good portion of those surveyed. Also, vending machine consumers did not know

dd to the challenges in developing combination products:

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

about new technology that ensures product delivery.

Most potential vending machine consumers were hesitant to make vending machine pu

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

rchases because of a belief that vending machines do not offer healthy or fresh products and a perception of high vending machine pric

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

es. Vending machine customers expressed a desire to read nutrition labels prior to purchase. Also, potential vending machine consumers

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

felt they could not trust the freshness of vending machine items.

If vending machine operators can make nutritional information acce

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

Professional from academic institutions, pharmaceutical industries, health care indust

ssible, and alert consumers to the freshness of items in vending machines, they can expand their consumer base. The vast majority of v

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

ending machine consumers browse selections before making a choice. Therefore, point of sale promotions, like digital displays are a gr

.

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

eat way of capturing impulse vending machine sales.

Vending machine operators can use this information to improve the vending machine

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

Companies that provide selfless information through particip

industry. There is no doubt that better advertising and consumer education are needed to improve vending machine consumer confidence.

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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