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The Market for Restriction Enzymes: Cutting Out Your CompetitionPublished by: BioInformatics, LLC Published: Feb. 1, 2006 - 142 Pages Table of Contents
AbstractIt is difficult to imagine life in the lab today without the benefit of restriction enzymes. Because they are so ubiquitous, these tools have become indispensable to many scientists even at the same time that they are often taken for granted. Nonetheless, restriction enzymes support many quintessential molecular biology applications including cloning, genotyping, mutation analysis and sequencing. Furthermore, given their wide degree of usage and the fact that most suppliers have long ago re-cooped their R&D investment on them, restriction enzymes are a reliable source of income for many suppliers. Additionally, since many scientists tend to use related kits and reagents from the same supplier, restriction enzymes serve as a conduit for increased product sales.Scientists must decide amongst the many suppliers that offer a variety of restriction enzymes—often with similar label specifications. The challenge suppliers face is how to “brand” their products to distinguish their enzymes from their competitors. To effectively create a brand, suppliers must first inform their customers “who” the product is by creating an identity for it. Next, suppliers must tell customers “what” a product does and finally, “why” their product is better than others on the market. For branding strategies to be successful—regardless of whether the brand has been around for decades or is brand new, customers must be convinced that there are significant and meaningful differences among restriction enzymes. Produced from the results of a 23-question survey of over 700 researchers who use restriction enzymes, The Market for Restriction Enzymes: Cutting Out Your Competition will examine what motivates scientists to purchase a restriction enzyme from one supplier over another and whether market segment or geographic region influence these decisions. It will provide insights into scientists’ purchasing preferences, i.e., how scientists prefer to buy restriction enzymes (e.g., central stockroom versus director from the supplier) and what factors (e.g., pricing, institutional practices, convenience) influence their purchasing decisions. Additionally, the report will present a detailed brand share analysis based upon usage rates and relative expenditure in two different market segments: industrial and academia and three geographic regions: North America, Europe and the rest of the world. Accompanying this analysis is an assessment of study respondents’ likelihood for brand switching and the motivations driving these decisions. Unique to this study is the estimation of brand equity in the restriction enzyme market based upon the past performance and future value of the major brands. This report is designed to help suppliers better understand how their customers use their products as the essential first step in evaluating the effectiveness of their existing brand. The report looks at the relationships between retention, satisfaction and loyalty and provides suppliers with a custom evaluation of these fundamental components, which determine one’s customer base. With these detailed insights, suppliers should be able to reassess their market position and develop new or adapt existing strategies to both increase customer value and achieve their profitability goals. Get Full Details About This Report >> |
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