Summary
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In a crowded life science market, lists of advantages and product features are no longer sufficient to differentiate one company's offerings from another's. A strong corporate brand can have a halo effect on a company's products across market segments, generating excitement and a premium on that company's goods and services. A brand that can establish an emotional connection with customers will benefit from the luxury of "earning" time with scientists. This allows the company to make a rational, persuasive case for buying their products over the multitude of companies vying for scientists' attention.
BioInformatics' latest report, Maximizing Market Share Through Brand Differentiation, provides suppliers with a frank and unbiased assessment of how their customers perceive their brands compared to competing corporate brands. Based upon the opinions of over 1,000 life scientists worldwide, these insights will help suppliers better differentiate themselves from their closest competitors and pinpoint brand characteristics most critical to building customer loyalty.
Knowing what your customers think helps you retain old customers. Knowing what hundreds of your competitors' customers think of your brand helps you gain new customers.
Brand Differentiation Analysis-Position each supplier in head-to-head competition with the field
- See how customers perceive you in relation to your competition
- Find out which companies you are most likely to acquire customers from
- Discover which suppliers are the most differentiable in the eyes of the market
Identifying the least satisfied portions of your competitor's customer base helps you acquire those weakly bonded to select factors.
Brand Share Index-Dissect the customer base of each leading brand to identify factors that strengthen and weaken bonds with specific customer segments
- Understand your customers' levels of satisfaction with your Promotion, Product, Price, Placement, and Service
- See how your competitors stack up on the same five factors
Acquiring customers from competitors increases share, but acquiring from brands with the highest value customers maximizes your company's market share.
Customer Value Score-Evaluate profitability in terms of frequency, recency, and value of customer purchases
- Compare your Customer Value Score to other suppliers
- Learn which companies have the highest-value customer base
Understanding the characteristics and benefits that are (or are not) top of mind when customers consider your brand helps your company manage and refocus existing perceptions. Brand Personality Scorecard-Discover what perceived benefits customers attribute to certain life science suppliers
- Learn how customers view and feel about your brand
- Compare your strengths and weaknesses against your competitors
- Exploring life science brands through five personality traits: sincerity, excitement, competence, sophistication and ruggedness
- Pinpoint areas of improvement for your company and target areas of opportunity among your competitors
Benchmarking your company's mindshare against leading brands provides a blueprint for to build up brand strength and brand equity at your company.
Brand Equity Pyramid-deriving brand equity through an analysis of presence, relevance, performance, advantage and bonding
- Find out which suppliers possess the building blocks of brand strength.
- Understand brand strength in terms of Presence, Relevance, Performance, Advantage, and Bonding
Companies who use Maximizing Market Share Through Brand Differentiation will not only know what their customers think, they will also know what their competitors' customers think. Suppliers will be able to strengthen both their offensive strategy (i.e., from which companies can market share be taken?) and defensive strategy (i.e., from which companies should market share be protected?). These advantages will be critical in growing and maintaining market share in 2006 and beyond.
Companies Compared
This report includes comparative corporate brand analysis of the following companies:
- Affymetrix
- New England Biolabs
- Applied Biosystems
- Promega
- BD Biosciences
- Qiagen
- Bio-Rad
- Roche Applied Science
- Eppendorf
- Sigma-Aldrich
- Fermentas
- Stratagene
- Fisher Scientific
- Takara
- GE Healthcare
- Thermo Electron
- Invitrogen
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