Marketing For Biotech Product
... 0 MARKETING OBJECTIVES There is a market demand for an effective and definitive diagnostic devise for major respiratory diseases that is simple, fast, cheap and objective. ... Development and commercialization of a PCR based molecular diagnostic product for major respiratory viruses will meet this demand. The first of these diagnostic products will be a single test to detect SARS and other major respiratory viruses and 35% of the initial profits from this product will be reinvested into research and develop of similar tests for other viruses. ... The product is scheduled to be launched by January 2006 and we aim to take a 35% share of the market within two years. ... 0 MARKETING MIX A well-balanced marketing strategy will allow the PCR diagnostic products to perform extremely well against the current inferior antibody based and Direct Fluorescence Antigen tests. ... 1 Product The product is a highly accurate PCR based diagnostic device for detecting whether a patient is carrying the SARS virus or another respiratory virus. The product will have a shelf life of 2 years and be covered under warranty for this period. ... The product will include both positive and negative control tests for greater accuracy. This product will be especially useful for health care workers because the virus can be detected before symptoms are present. The packaging will not have to be colorful as it will be directed at hospitals not for consumer use and a superior product with all of the necessary instructions will be provided, however it will have to be easily recognizable and professional. The product will be packaged in bulk, as it will be sold to testing centers rather than for personal use. ... 2 Price This product will take a market skimming price strategy. As there are many competitors trying to develop similar products, the price will be set above market price due to the product being superior to anything currently available.