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Know Your Brand Strengths and Weaknesses
Leading life science suppliers seek ways to improve marketing and sales performance have a new and powerful tool at their disposal. BioInformatics has developed a research model to assess five key areas of performance: Promotion, Product, Price, Placement and Service. Using our technique, suppliers can tackle current market challenges by identifying areas for improvement and by formulating a comprehensive strategy to improve their Brand Evaluation.



			Case Study: In which areas are my competitors weakest? A recent BioInformatics syndicated report provided readers with in-depth insight into the strengths and weaknesses of their competitors. After the report was published, we advised a leading life science supplier (and purchaser of the report) on how to acquire customers from their competitors based upon an analysis of their weaknesses. Based upon this information, our client has developed a marketing approach that highlights the areas in which their competitors are weak and has begun capitalizing on their own strengths as well. Using the Brand Evaluation for a number of competitors, our client is pursuing customers in a new strategic way.

Understanding Brand Share Index Used in Brand Evaluation
The Brand Share Index analyzes a supplier’s customer base. This analysis is based upon measurements of:
Promotion— Percentage of respondents aware of a brand's products
Product— Degree to which respondents are interested and favorably inclined to a brand's products
Price— Percentage of respondents who believe a brand's products are priced appropriately
Placement— Percentage of respondents who can readily purchase a brand's products
Service— How supportive respondents perceive a brand's service to be

The methodology assumes that customers become more bonded or loyal to a brand as the number of attributes for which they are satisfied build upon one another. The point at which respondents are not satisfied is indicative of where the supplier has the weakest bond with the customer.

Looking at the Brand Share Index pathway below, Company X can determine that their two greatest areas of improvement are Promotion and Price. Company X could benefit from marketing campaigns aimed at increasing brand awareness because 43% of survey respondents are not familiar with the brand. Turning to Price, 29% of respondents aware of the brand and the products feel that Company X’s prices are unacceptable. Company X can work towards changing this perception by lowering its prices through a sales promotion, or perhaps by using BioInformatics’ Van Westendorp Analysis to determine a more acceptable pricing strategy.

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Delivering Results
Findings from BioInformatics’ Brand Share Index have allowed our client to pinpoint areas of weakness for each of their primary competitors. Understanding this information is critical to a marketing strategy for acquiring customers from competitors.

To get more information on BioInformatics’ Brand Evaluation or to discuss further details of your potential study, please contact us at 703.778.3080 ext. 12 surveys@gene2drug.com.