COMPETITIONThere are a number of weight loss products and services in the U.S. market today, ranging from chemical and herbal treatments to various kinds of programs and equipment that people can use. However, for our product our main competitors are other non-prescription tablets such as; Metabolife, Trimspa Fat Blocker, Xenadrine, Cortislim, Curb Your Cravings, Thermo-Burn and many more (www.healthy4life.com). Other competitors include; prescription tablets such as, Xenical, Phentermine, Adipex, Meridia and Tenuate (www.healthy4life.com), herbal weight loss such as, Green Tea, weight loss eating programs such as Jenny Craig, exercise equipment such as, the Ab-Doer and to the extreme, weight loss surgery such as liposuction.In addition, scenarios that may cause the industry to change in the future could be due to the following:1. ...view middle of the document...
Medical practitioners might then encourage patients to seek other treatments such as weight loss tablets like ours, hence increasing the demand for our product.2. Due to technology continuously progressing there are shifts beginning to develop from heavy work to light work ( Phillipson, 1999). Especially in a postindustrial and redistributive society like America, most work entails little exercise and not working surely doesn't reduce weight, hence people must pay for undertaking rather than be paid to undertake physical activity. Again increasing the demand for our product.3. People these days are also working longer hours and have very busy lifestyles. Time is considered very precious and so people want to spend quality time with their family and friends, which ultimately means no time for physical activity. Hence, opting for weight loss tablets would be more convenient and less time consuming.4. In relation, working more hours equals higher income. Average incomes are rising and people are tending to dine out more, increasing their calorie consumption. Although none of us likes the fact that these situations are having a negative affect on peoples health, the weight industry is surely expanding.In contrast, these conditions will also force plenty of competition, whether it being from already existing competitors, the threat of new entrants or the threat of substitute products or services. To gain a competitive advantage would then be up to us to differentiate and improve our product, for example by maybe making the formula more powerful and natural.SOURCES: The textbook www.healthy4life.com Finkelstein, E.A. 2003, 'National Medical Spending Attributable to Overweight and Obesity', Health Affairs, The Policy Journal of the Health Sphere, pp2-3 Phillipson, T.J. 1999, 'The Long-Run Growth in Obesity as a Function of Technological Change', Social Science Research Network Electronic Library, p.1
