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Hispanic Trends

September 8, 2016

4. Ranking the Latino population in the states

By Renee Stepler and Mark Hugo Lopez

By 2014, eight states had Latino populations of at least 1 million: California, Texas, Florida, New York, Illinois, Arizona, New Jersey and Colorado. 14

With 15 million Hispanics residing in California, its Hispanic population accounts for more than a quarter (27%) of the nation’s Hispanic population. California also passed a milestone in 2014, when the state’s Hispanic population was for the first time ever the largest of any Ileana Makri Diamond sapphire tsavorite amp; yellowgold ring 3cHDmDkfYZ
.

Following California is Texas. Nearly one-in-five Hispanics nationwide (19%) reside in Texas, where the Hispanic population reached 10.4 million in 2014. In third place is Florida, with 4.8 million Hispanics, accounting for nearly one-in-ten (9%) of the nation’s Hispanics.

Nearly half (48%) of New Mexico’s population is Latino, the highest share among the states. New Mexico is followed by California and Texas, whose populations are 39% Latino in each. Nearly one-third of Arizona’s population (31%) was Latino in 2014, as were about a quarter of Nevada’s (28%) and Florida’s (24%). In Colorado (21%), New Jersey (19%), New York (19%) and Illinois (17%) about one-in-five people were Latino.

From 2000 to 2014, the Latino population in South Dakota Gloria Vanderbilt Gray 1 Inch Stud Earrings n9UJMo
. South Dakota’s Latino population has nearly tripled, reaching 29,000 in 2014 – up from 10,000 in 2000. The Latino populations in Tennessee and South Carolina have also nearly tripled. In 2014, Tennessee had 322,000 Latinos, up from 117,000 in 2000, and South Carolina had 258,000 Latinos in 2014, up from 95,000 in 2000. North Dakota and other Southern states rounded out the top 10 states for Latino population growth.

The Hispanic population in North Dakota, however, has been the fastest-growing between 2007 and 2014 – the number of Hispanics has nearly doubled in that time. In 2014, about 18,000 Hispanics lived in North Dakota, up from 9,000 in 2007. Others in the top five for the fastest-growing state Hispanic populations between 2007 and 2014 are Kentucky (66%), Louisiana (64%), Delaware (64%) and Maryland (60%).

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Posted on by Tapan Ray

“Pharma industry, including the patients in India are so different from other countries. Thus, any strategic shift from conventional pharma brand marketing approach – going beyond doctors, won’t be necessary.”

The above mindset is interesting and may well hold good in a static business environment. But, will it remain so when ‘information enabled’ consumer behavior is fast-changing?

“Shall cross the bridge when we come to it” – is another common viewpoint of pharma marketers.

Many might have also noted that such outlooks are not of just a few industry greenhorns. A wide spectrum of, mostly industry-inbred marketers – including some die-hard trainers too, subscribe to it – very strongly.

Consequently, the age-old pharma marketing mold remains intact. Not much effort is seen around to reap a rich harvest out of the new challenge of change, proactively. The Juggernaut keeps moving, unhindered, despite several storm signals.

Against this backdrop, let me discuss some recent well-researched studies in the related field. This is basically to understand how some global pharma companies are taking note of the new expectations of patients and taking pragmatic and proactive measures to create a unique ‘patient experience’ with their drugs.

Simultaneously, I shall try to explore briefly how these drug companies are shaping themselves up to derive the first-mover advantage, honing a cutting edge in the market place. This is quite unlike what we generally experience in India.

As I look around:

When I look around with a modest data mining, I get increasingly convinced that the quality of mind of pharma marketers in India needs to undergo a significant change in the forthcoming years. This is because, slowly but surely, value creation to provide unique ‘patient experience’ in a disease treatment process, will become a critical differentiator in the pharma marketing ball game. Taking prime mover advantage, by shaping up the change proactively for excellence, and not by following the process reactively for survival, would separate the men from the boys in India, as well.

Patient experience – a key differentiator:

A recent report titled, “2017 Digital Trends in Healthcare and Pharma”, was published by Econsultancy in association with Adobe . This study is based on a sample of 497 respondents working in the healthcare and pharma sector who were among more than 14,000 digital marketing and eCommerce professionals from all sectors. The participants were from countries across EMEA, North America and Asia Pacific, including India.

Regarding the emerging scenario, the paper focuses mainly on the following areas:

Commensurate digital transformation of pharma industry is, therefore, essential.

Prompts a shift from marketing drugs to marketing outcomes:

The above study also well underscores a major shift – from ‘marketing drugs and treatments’ – to ‘marketing outcome-based approaches and tools’, both for prevention and treatment of illnesses. This shift has already begun, though many Indian pharma marketers prefer clinging on to their belief – ‘Indian pharma market and the patients are different.’

If it still continues, there could possibly be a significant business impact in the longer-term future.

Global companies have sensed this change:

Realizing that providing a unique experience to patients during the treatment process will be a key differentiator, some global companies have already started acting. In this article I shall highlight only one recent example that was reported in March 01, 2018.

Reuters in an article on that day titled, “Big pharma, big data: why drugmakers want your health records,” reported this new trend. It wrote, pharma players are now racing to scoop up patient health records and strike deals with technology companies as big data analytics start to unlock a trove of information about how medicines perform in the real world. This is critical, I reckon, to provide a unique treatment experience to the patients.

A recent example:

Vindicating the point that with effective leverage of this powerful tool, drug manufacturers can offer unique value of their medicines to patients, on February 15, 2018, by a Media Release , Roche announced, it will ‘acquire Flatiron Health to accelerate industry-wide development and delivery of breakthrough medicines for patients with cancer.’ Roche acquired Flatiron Health for USD 1.9 billion.

New York based Flatiron Health – a privately held healthcare technology and services company is a market leader in oncology-specific electronic health record (EHR) software, besides the curation and development of real-world evidence for cancer research.

“There’s an opportunity for us to have a strategic advantage by bringing together diagnostics and pharma with the data management. This triangle is almost impossible for anybody else to copy,” said Roche’s Chief Executive Severin Schwan, as reported in a December interview. He also believes, “data is the next frontier for drugmakers.”

Conclusion:

Several global pharma companies have now recognized that providing unique patient experience will ultimately be one of the key differentiators in the pharma marketing ballgame.

Alongside, especially in many developed countries, the drug price regulators are focusing more on outcomes-based treatment. Health insurance companies too, have started looking for ‘value-based pricing,’ even for innovative patented medicines.

Accordingly, going beyond the product marketing, many drug companies plan to focus more on outcomes-based marketing. In tandem, they are trying to give shape to a new form of patient expectation in the disease prevention and treatment value chain, together with managing patient expectations.

Such initiatives necessitate increasing use advanced data analytics by the pharma marketers to track overall ‘patient experience’ – against various parameters of a drug’s effectiveness, safety and side-effects. This would also help immensely in the customized content development for ‘outcomes-based marketing’ with a win-win intent.

Providing unique ‘patient experience’ is emerging as a new normal and a critical brand differentiator in the global marketing arena. It will, therefore, be interesting to track how long the current belief – ‘Pharma industry and the patients in India are so different from other countries’, can hold its root on the ground, firmly. Or perhaps will continue till it becomes a necessity for the very survival of the business.

By: Tapan J. Ray

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