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Understanding Switching Dynamics: Maximizing Customer Retention in the Life Sciences

BioInformatics, LLC
March 1, 2008
173 Pages - SKU: BIF2476756

Abstract Table of Contents Related Reports

You have a solid relationship with a client and your products are integral to their research program. But one day you notice sales dropping and wonder why your calls not being returned…you have been supplanted by another supplier and don’t know why. Frustrating! Or, maybe you have not been able to penetrate a high value account even though you have a superior product. What can you do to get in the door? These are the two sides of the switching dilemma. For the first time, BioInformatics, LLC examines the drivers behind what motivates buyers to switch brand allegiances. We go beyond the basics of price, service and delivery to provide a thorough analysis of the factors that create “customers for life” and enable you to take advantage of opportunities to secure new accounts.

Introduction
Significant Findings
Life Science Market Dynamics
Assessing the Market’s Potential to Switch
Life Science Brands:: • Percentage of Scientists Currently Deciding Whether to Switch Brands; • Major Reasons Scientists Do Not Consider Switching Brands; • Reasons Scientists Consider Switching Brands; • Brands Scientists Are Considering Switching From Using
Characterizing the Who, What and Why of
Customer Switching:: • Percentage of All Scientists Who Have Switched Brands in the Past 12 Months; • Customer Demographics and Switching Behavior; • Brands Scientists Have Switched From in the Past 12 Months; • Advantages of New Brands Over Old Brands
Attracting and Growing Your Customer Base
Preventing and Managing Customer Problems:: • Vulnerable Business Areas and Time Allowed by Customers for Resolving Problems in These Areas; • Top Reasons that May Cause Switching and How Often Problems Would Need to Occur Before Switching; • Personnel to Whom Scientists Would Direct Complaints
Maximizing Your Competitive Advantage:: • Expected Primary Motivation for Switching Brands; • Most and Least Important Service Offerings from New Brand; • Minimum Price Savings to Consider Switching Brands
Building Customer Loyalty Programs:: • Preferred Type of Loyalty Program; • Incentives that Increase Loyalty
Demographics: • Market Segment; • Job Position; • Geographic Region; • Area of Research
BioInfo Dashboard™ Profiles: • Abcam; • Affymetrix; • Agilent Technologies; • Ambion (Applied Biosystems); • BD Biosciences; • Bio-Rad Laboratories; • Cell Signaling Technology; • Dako; • EMD Biosciences (Calbiochem, Novagen); • Eppendorf; • Eurogentec; • Fermentas; • GE Healthcare (Amersham Biosciences); • Illumina; • Integrated DNA Technologies; • Invitrogen (Dynal, Gibco); • ISC BioExpress; • Jackson ImmunoResearch Laboratories; • KPL; • Mettler Toledo; • Millipore; • Molecular Devices (MDS Analytical Technologies); • MP Biomedicals; • New England Biolabs; • PerkinElmer Life and Analytical Sciences; • Promega; • Qiagen; • R&D Systems; • Roche Applied Science; • Santa Cruz Biotechnology; • Sigma-Aldrich; • Stratagene; • Thermo Fisher Scientific; • Tocris; • UVP; • VWR International; • Waters
Study Methodology and Demographics: • Methodology; • Demographics; • Questionnaire
Appendices: • Insights and Perspectives; • Additional Analysis; • Importance of a Loyalty Program in Decision to Not Switch Vendors, by Likelihood to Continue Using Products from Brand; • Importance of a Loyalty Program in Decision to Not Switch Vendors, by Likelihood to Recommend Brand; • Other Recent Publications; • About BioInformatics, LLC; • Our Valued Clients

Understanding Switching Dynamics: Maximizing Customer Retention in the Life Sciences

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