Abstract
It 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.
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