Aug 3rd, 2007
What industry are we in anyway?
Paul Zane Pilzer, keynote speaker at Health+Fitness Business Expo & Conference, raised an interesting question during his address. What industry are we in today?
Is it the exercise industry? The fitness industry? The health industry? The weight loss industry?
With the graying of America and the increasing living standards (both here in the U.S. and abroad), Pilzer suggested that, in fact, the companies, organizations and individuals attending H+FB were now in the “Wellness Industry.”
The Wellness Industry touches all things concerned with keeping people “well,” as opposed to the medical industry which is focused on getting people “better” when they get sick.
Pilzer claims that the Wellness industry already generates more than $500 billion in revenues per year and is on its way to topping $1 trillion annually in the near future.
I think this was a new concept for most listeners in attendance.
And although I wish he would have used a PowerPoint presentation to support his speech, I thought Pilzer was spot-on with this concept.
Often the most important thing an executive can do from time to time is to objectively analyze one’s industry, company, product/service mix, positioning, branding, messaging, etc. and ask reflectively, “Are we still on point?” In other words, “Has anything changed in the marketplace that we need to be aware of and make adjustments for?”
Pilzer’s presentation gave me great food for thought about the entire “Wellness Industry” in all of its various aspects, something I hope the other attendees experienced as well.