Brookfield, WI-June 26, 2003 Longevity Through Prevention’s Chief Scientific Officer, Dr. Gina L. Nick, is scheduled to speak at Supply Side West in Las Vegas, Nevada at 12 PM on October 2, 2003. A recognized expert in marketing and selling nutraceuticals to the healthcare professional, Dr. Nick was invited by Virgo Publishing (producers of the Supply Side Shows) to discuss the Practitioner Market as an Alternative Distribution Channel. This channel is made up of over 1.1 million MD’s, complementary physicians and allied healthcare professionals. Analysis of statistics provided by Nutrition Business Journal, indicates that growth in nutraceutical sales in the practitioner market has surpassed traditional, consumer-focused channels, with an average increase in sales to practitioners of 14% from 1997 to 2001, as compared to a 7% growth rate for the entire supplement market during that same time period. Further, the practitioner market is estimated to grow at a rate of 9-19% over the next three years.
When asked about the necessity of research to tap into the practitioner channel, Dr. Nick said, “A quality research study costs between $25,000 and $100,000 and will typically take 2 to 10 years to complete. Further, what is to stop a competitor from using your research to develop and market their products at a fraction of your cost, with minimal investment and minimal risk? That being said, research is still a prerequisite to gaining practitioner market share in the nutraceutical industry. I will be discussing the use of peer-to-peer, Natural Product Advisory Sessions™, an effective solution to gaining a timely return on research investment. Big Pharma has been successfully using these marketing/sales sessions for over twenty years now as a means of capitalizing on the research money they spend, sometimes even before a clinical trial of their products is published.”
Supply Side West is the world’s largest trade show for healthy and nutritional ingredients, attracting nearly 5,000 executives from dietary supplement, food, pharmaceutical and cosmetic companies each year. For more information about Supply Side West 2003 visit www.supplysideshow.com/west.
About Longevity Through Prevention
Longevity Through Prevention, Inc. is a business-to-business consulting firm that offers turnkey research, marketing, sales, technology and business solutions to the nutraceutical industry. LTP offers peer-to-peer Natural Product Advisory Sessions™ exclusively to the nutraceutical industry. The company can be reached toll free at (866) 587-4622 or on-line at http://www.ltponline.com.