Custom Research Solutions

		What product or service attributes are not meeting my customers' expectations? Customer Satisfaction What product or service features are necessary and which are most enticing to my customers? Preferred Product Features What combination of product features and price is most appealing to my customers? Will they pay more for extra features? Product Feature / Price Tradeoffs What is the optimum price point for my products to maximize sales and profit? Pricing and Value Perception Are my customers acting as brand promoters or detractors? Are they loyal to my brand? Customer Loyalty

When launching a new product or optimizing an existing product, your choice of which features will be included and at which price point is challenging—but key to winning customers. What ends up in the final product offering often stems from discussions among executives internally; matching and exceeding what competitors are offering; and customer anecdotes.

Often, however, these sources lead to unbalanced information. Internal discussions among executives can involve personal rationalizations or groupthink instead of factual customer data. Anecdotal evidence and small focus groups can be case-specific, subjective, and unrepresentative of the diverse customer segments that purchase your products. Offering a better performing feature than a competitor's product may generate more sales, but only if customers in your targeted market segment value that product attribute with its associated package at that price point.

To make highly informed decisions, you also need a representative portion of your potential customers to tell you what product features are most important to them, at what prices, in an easily quantifiable way.

Using BioInformatics' solutions, you can make decisions based on your customer's satisfaction with detailed aspects of your products and services using Customer Satisfaction analysis. You can also identify which product features your customers consider necessary and which features make your product more attractive than competitors' using our Preferred Product Features analysis. Choose to provide your potential customers with the right package product features at the right price points using Product Feature / Price Tradeoffs analysis. Or, find the optimum market price for your products to maximize sales, profit, and customer value perception by leveraging our Pricing and Value Perception technique. Additionally, you can gauge loyalty to your brand and discover how your customers are promoting or detracting from your brand via our Net Promoter Score analysis tailored to life science suppliers.

For life science executives seeking a proven quantitative approach instead of focus groups and echoing debates among management, BioInformatics offers bProducts, custom market research solutions that leverage the power of true customer analytics to give you product-specific insights for savvy life science business decisions. Our approaches are based on sophisticated, time-tested statistical techniques and 60+ years of combined experience in the life science industry.