Study Examines Brand Strength of Leading Molecular Biology Suppliers
June 15 2004 - 9:57AM
PR Newswire (US)
Study Examines Brand Strength of Leading Molecular Biology
Suppliers ARLINGTON, Va., June 15 /PRNewswire/ -- Over the years,
life science suppliers have recognized that strong brands do
contribute to market success. As a result, a number of suppliers
have achieved high levels of brand equity in the molecular biology
market, including Invitrogen (NASDAQ:IVGN), Qiagen (NASDAQ:QGENF),
Amersham Biosciences (NYSE:GE) and Bio-Rad (AMEX:BIO). Brand equity
is an intangible quality that results from the interaction of many
components such as awareness, satisfaction, loyalty, perceived
value and associations. These factors were examined in "Building
Brand Equity in the Molecular Biology Market," a report recently
released by market research firm BioInformatics, LLC
(http://www.gene2drug.com/). Based on a survey of more than 1,500
life scientists, the report provides an in-depth look at ten
product categories in the molecular biology market -- from basic
products like enzymes to cutting-edge technologies like DNA
microarrays and RNA interference (RNAi) products. According to the
study, the largest players in this market have enviable positions,
but corporate size alone does not result in high levels of brand
equity. "Interestingly, while the sheer size of a company and its
financial investment in marketing are important factors in
determining brand equity, other smaller companies have achieved
strong brands and positive images through their focus on specific
niches within the market and careful positioning," said Bill Kelly,
President of BioInformatics, LLC. For example, the report finds
that the specialty supplier Dharmacon has only a small share of the
molecular biology market as a whole but is building a strong brand
as a supplier of products for studying RNAi. The report "maps" the
relative brand strength of leading molecular biology suppliers
using numerical scores derived from how their customers answered
questions relating to: * Brand associations * Brand personalities *
Changes in customer opinions * Use of the company's products *
Satisfaction with product performance * Satisfaction with supplier
performance * Overall customer satisfaction * Overall customer
loyalty * Customer longevity * Company performance compared to
customer expectations The survey data is presented both in
aggregate for the molecular biology market as a whole and at the
product category level. Individual companies can be analyzed on a
custom basis. Analysis of the survey data reveals that many
suppliers have successfully positioned their brands in ways that
reflect the values of the molecular biology customers they serve.
For example: * Affymetrix (NASDAQ:AFFX) is the company most
frequently described as "influential." * BD Biosciences (NYSE:BDX)
has the highest percentage of customers that have an increasingly
positive opinion of their primary supplier. * New England Biolabs
has the highest percentage of satisfied customers. Strong brand
equity enhances a company's products and makes premium pricing
possible. Additionally, strong brands encourage customers to try a
company's products for the first time and continue choosing them
over similar products offered by competitors. "It should be noted
that virtually all suppliers in the molecular biology market enjoy
high scores in important areas such as product performance,
customer satisfaction and customer loyalty. However, to break out
from the pack, suppliers can use this report to evaluate their
current positions and determine how brand issues may be affecting
their competitiveness in this crowded market. This report is
helping our clients understand how their brands are perceived by
scientists and what adjustments may be needed to implement a more
powerful brand strategy," concluded Kelly. For a complimentary
Executive Summary of this 366-page report, please visit:
http://www.gene2drug.com/reports.75.html ABOUT BIOINFORMATICS, LLC
BioInformatics, LLC (http://www.gene2drug.com/) is a market
research firm located in Arlington, Virginia. BioInformatics
supports marketing, sales and R&D executives in the life
science, medical device and pharmaceutical industries through
published research reports, custom research and consulting.
BioInformatics sponsors the world's largest market research panel
of scientific customers -- The Science Advisory Board
(http://www.scienceboard.net/) -- which consists of more than
20,000 scientists, physicians and other life science and medical
professionals from 62 countries who participate in surveys that
address emerging technologies, test customer reactions to new
product concepts, measure brand awareness and assess advertising
effectiveness. CONTACT: Alyssa Martin of BioInformatics, LLC,
+1-703-778-3080, ext. 12, Fax: +1-703-778-3081, or DATASOURCE:
BioInformatics, LLC CONTACT: Alyssa Martin of BioInformatics, LLC,
+1-703-778-3080, ext. 12, Fax: +1-703-778-3081, or Web site:
http://www.gene2drug.com/ http://www.scienceboard.net/
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