Hype or reality Health and wellness - Essay Example

). The fact that competition has increased, is not only because of the desires of businesses to grow larger and better but also because of the ever growing unique needs and wants of consumers. These unique needs are a result of high level of awareness amongst consumers, which in turn is because of immense media proliferation, through internet, social networking sites, television, radio, print media, telephones etc (Top Ten Trends for Healthcare & Wellness in 2012 | HealthFlock). An aware consumer comprehends his needs better, identifies what is his requirement, and marketers or on large businesses, face the challenge to get into that consumer’s mind identify his needs and come up with such a combination of products and services as to satisfy that particular segment of large target market and sustain their aggressive approach towards understanding consumer needs (Top Ten Trends for Healthcare & Wellness in 2012 | HealthFlock). . ellness is different in a way that it almost created a new canvas for itself to inflate in the industry that was a part of cosmetic beauty and medicine industry yet very different because of the amalgamation of ideas being brought together to generate the need in the minds of consumers (Market Trends Project More Growth for Wellness Industry | Company News | Wellsource).

This was not an easy task to generate a need for a product or service which has many indirect competitors coming from several other fields of life and business, besides that the product offered was not a commodity but a luxury availed by the elites of societies, who had reserves of unlimited disposable income available to them all the time. A swift transition can strengthen the base of industry. Transition of health and wellness services to be perceived as an essential commodity for personal care, from the establishment time concept of it being a luxury item made for the entertainment of elitist classes of societies.

Before moving on a few fact and figures related to industry, one must not forget to mention about the logic of ‘The Wellness Guru’, Paul Zane Pilzer, in his book ‘The Next Trillion’ claims that ‘more than half of the US population is unhealthy and overweight’ because of the health and wellness industry and the exponential growth in food industry (The Wellness Revolution). According to Paul Zane Pilzers’ ‘The Wellness Revolution’ $1.5 trillion of the US economy today is emerging from the wellness sector of the nation (The Wellness Revolution), while the Guru also extrapolates these figures to generate an estimated amount of $1 trillion additional to be invested in the sector by the end of year 2010, with the motive of ensuring a healthier, prettier and long lasting fresh