Biopure marketing case
How do you assess biopure potential in the human market the animal market
Also, we noted blood transfusion is mainly used in emergency cases instead of ordinary cases. Although, sellers charge the very high price, the patients still need bloods for their treatment. Uncertainty of market acceptance of blood substitute as they confront deeply rooted blood transfusion treatment, which is proved to be very effective. Buyers are not very price-sensitivity weak The most important thing for the pet owners is how to cure their pet to become healthy and they do not care about the price too much. Oxyglobin would create an unrealistic price expectation for Hemopure if released first. So we can choose to price based on critical case. Again, if it is possible to determine the areas which tend to have more emergency care and the largest primary care vets likely to be near larger cities , those areas with trade shows should be targeted.
On the contrary, Biopure utilizes the cattle blood as its source of hemoglobin. Realistically, this cost for a human blood substitute will not make waves due to its benefits over donated blood and the fact that the cost is passed on from hospital, to patient, and finally to insurance company.
Biopure case study essay
However, emergencies care practice mainly accepted only critical cases, which required a huge amount of blood. Biopure can choose to do market survey about the pricing if excess budget is available, or can do trial ;amp; adjusting however is not recommended because delivering consistency is also important. At the same time, Biopure management realizes that launching Oxyglobin immediately has many benefits, including providing an instant revenue stream and enhancing Biopures reputation. Buyers are not very price-sensitivity weak The most important thing for the pet owners is how to cure their pet to become healthy and they do not care about the price too much. This approach would help firm to save 30 percent of distribution cost charged by distributors. Biopure should position Oxyglobin as the only life-saving veterinary blood substitute available, that offers more convenience in storage and administration than the real thing, for practices that handle many canine surgeries and traumas. And the products in this market are only donating blood and blood substitutes. In order to evaluate and make a decision, we analyze the blood substitute markets along with the analysis of the two scenarios. Firms need to do research ;amp; development and do the experiment several times to ensure their product efficient before asking for the approval from FDA.
Buyers In this case, we will analyze the buyers as the intermediate buyers which mean to professor and final buyers which mean the patients. Is there any effect of using bovine red blood cells in human? Biopure desperately needs to enhance its reputation and increase awareness among customers since it has not yet launched any products and it is not a public company in contrast to Baxter, for example.
Since this is related to human lives, if there is any mistakes occur, not only the reputation of the doctors but also the reliability of firm will be destroyed and it will difficult for them to recall their trusts.
By understanding the market, customer, and final consumer, Biopure can then effectively make projections and future marketing plan accordingly.
Moreover, as of right now, there will be no potential competitors for the next years, since there is no one engaging in animal blood substitute practices. Scenarios Analysis: Advantages vs. If the products are sold nationwide and severe allergic cases are discovered, this will drastically affect sales of Oxyglobin and Hemopure.
In case Oxyglobin succeed in animal blood market, Biopure can use some aspects of the success model to apply in the human market.
based on 107 review