CHICAGO & ORLANDO--(BUSINESS WIRE)--Prescription (Rx)-to-over-the-counter (OTC) products are now many consumers’ first line of defense in treating everyday conditions, such as allergies and heartburn. Therefore, it is increasingly important for OTC marketers to implement sound marketing tactics to ensure a successful switch from RX to OTC, according to the new IRI Point of View: “Best Practices for Rx-to-OTC Product Launches.”
“When studying Rx-to-OTC switches, we found that order of entry is one factor, but it is not necessarily the driving factor for success,” said Robert Sanders, executive vice president and healthcare practice leader, IRI. “More specifically, the concept of an unmet consumer need continues to trump many of the other variables.”
The Point of View takes an in-depth look at previous Rx-to-OTC product launches and gleans best practices to follow and warns of pitfalls to avoid.
“We know that a new wave of Rx-to-OTC products will drive OTC growth in the long term,” explained Sanders. “Lessons learned from previous case studies will help maximize success for future brands as they move into this space.”
Additionally, Robert Sanders and Piyush Chaudhari, president of the Americas and Global Strategy, IRI, are scheduled to speak at the Consumer Healthcare Product Association’s (CHPA) 2014 Annual Executive Conference on Tuesday, March 18 at 10 a.m. EST in Amelia Island, Fla. During their presentation, “Market Performance Data and Rx-to-OTC Switch Analysis,” they will discuss how the OTC and dietary supplements market is performing in the United States and explore the value proposition for Rx-to-OTC switch.
To download the free Point of View, please visit: http://www.iriworldwide.com/Insights/Publications/PointofView.aspx.
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